Key Points
- Metaplanet acquired 23.97 Bitcoin from an options transaction with QCP Capital, increasing its total Bitcoin holdings to 530.72 BTC.
- The Japanese investment firm is also planning to raise $70 million through stock rights offerings, with over 80% allocated to its Bitcoin strategy.
Metaplanet Boosts Bitcoin Holdings
Japanese investment firm Metaplanet recently increased its Bitcoin holdings.
This was achieved through an options transaction with Singapore-based digital asset trading firm QCP Capital.
Metaplanet announced the deal in an October 3 notice, stating it sold 223 contracts worth $62,000 put options expiring on December 27, 2024.
This transaction resulted in a profit of 23.97 BTC for Metaplanet, recognized as revenue.
Company’s Bitcoin Strategy
Metaplanet’s strategy allows it to capitalize on Bitcoin’s volatility and generate premium income while maintaining a cash-secured position.
By selling 223 Bitcoin put options, the company can increase its Bitcoin holdings if the market price falls below $62,000 at maturity.
This strategy aligns with the company’s financial strategy to strengthen long-term Bitcoin exposure.
Since Japan’s currency weakened in May 2024, Metaplanet has been increasing its Bitcoin holdings to combat economic challenges.
The firm has invested 4.96 billion yen in Bitcoin, with an additional ¥215 million from the recent put options sale.
Future Plans and Market Interest
Metaplanet also plans to raise $70 million through stock rights offerings, with over 80% allocated to its Bitcoin strategy.
This reflects a growing interest in crypto investments among Japanese investment managers.
Japan’s newly elected Prime Minister, Shigeru Ishiba, has also revealed a pro-blockchain strategy to boost the economy.