Last updated on October 15th, 2024 at 01:12 pm
Japanese investment firm Metaplanet has acquired 23.97 Bitcoin through an options deal with Singapore-based digital asset trading firm QCP Capital, bringing its total Bitcoin holdings to 530.72 BTC.
In an October 3 announcement, Metaplanet revealed it had entered into a Bitcoin (BTC) options transaction with Singapore-based digital asset trading firm QCP Capital.
As stated in the release, Metaplanet sold 223 put option contracts valued at $62,000, set to expire on December 27, 2024. This transaction generated a profit of 23.97 BTC in option premiums, which has been recognized as revenue. They stated that
“This transaction allows the company to capitalize on Bitcoin’s volatility by generating premium income while maintaining a fully cash-secured position,”
The press release also highlighted that alongside its previous purchase valued at $6.94 million—one of its most significant single acquisitions—Metaplanet now holds 530.72 Bitcoin, equivalent to approximately $32.55 million as of October 3.
By selling 223 Bitcoin put options, Metaplanet positions itself to increase its holdings if the market price dips below $62,000 at maturity.
“This approach not only bolsters the company’s Bitcoin reserves but also strengthens its balance sheet, aligning with our long-term strategy to enhance Bitcoin exposure,”
stated Metaplanet.
On October 1, Metaplanet acquired 107.913 Bitcoin, valued at about 1 billion yen ($6.9 million), to expand its cryptocurrency portfolio. The Tokyo-listed firm announced that the purchase was made at an average price of 9.26 million yen ($64,168) per Bitcoin, bringing its total holdings to 506.745 BTC, worth approximately $32.2 million.
This followed the company’s recent move in August to secure a 1 billion yen ($6.8 million) loan at a low annual interest rate of 0.1%. The loan, due for repayment within six months, was intended for additional Bitcoin purchases. Metaplanet also announced plans for a ¥10.08 billion ($69.44 million) stock acquisition rights allotment. The funds raised, approximately 8.5 billion yen ($58.76 million), were allocated for further Bitcoin acquisitions, solidifying the firm’s status as a significant corporate Bitcoin holder.
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