Bitcoin

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 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.
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In an October 3 <a style="color: #0000ff;" href="https://x.com/Metaplanet_JP/status/1841718887689187627?t=Y-FR4BFKQzrU96i_JbzcjQ&amp;s=19" rel="noopener noreferrer nofollow">announcement</a>, 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
<blockquote>
 “This transaction allows the company to capitalize on Bitcoin’s volatility by generating premium income while maintaining a fully cash-secured position,”&nbsp;
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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.&nbsp;
<blockquote>
 “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,”
</blockquote>
stated Metaplanet.
On October 1, Metaplanet<a style="color: #0000ff;" href="https://defi-planet.com/2024/10/metaplanet-purchases-another-107-btc/" rel="noopener noreferrer nofollow"> acquired</a> 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.
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This followed the company’s recent move in August to<a href="https://defi-planet.com/2024/08/japans-metaplanet-inc-secures-6-8m-loan-to-buy-more-bitcoin/" rel="noopener noreferrer nofollow"> secure</a> 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.<a style="color: #0000ff;" href="https://drive.google.com/file/d/1Nb8eP_8_Ko-BDfCXrYqgfBD02cgNKe4V/view" rel="noopener noreferrer nofollow"> Metaplanet also announced</a> 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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The post <a href="https://defi-planet.com/2024/10/metaplanets-bitcoin-reserves-reach-530-72-btc-following-recent-options-transaction/" rel="noopener noreferrer nofollow">Metaplanet’s Bitcoin Reserves Reach 530.72 BTC Following Recent Options Transaction</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Metaplanet’s Bitcoin Reserves Reach 530.72 BTC Following Recent Options Transaction

DeFi Planet

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