Metaplanet Expands Bitcoin Holdings

U.Today – Metaplanet, dubbed "Japan's MicroStrategy," has acquired an additional 23.9 Bitcoin (BTC) as part of its Treasury Allocation effort. The update was shared on the X platform, detailing that the BTC was earned through put option sales.

Metaplanet and Unrelenting Bitcoin Push

The firm revealed that it initiated a Bitcoin Options contract transaction with QCP Capital, involving 223 contracts maturing in December 2024 at a valuation of $62,000 per BTC.

With a nominal yield of 10.75%, Metaplanet generated a premium of 23.972 BTC worth 8.95 million yen. Following this transaction, its total Bitcoin holdings have risen to 530.717 BTC, valued at approximately 4.965 billion yen.

Since July, Metaplanet has consistently bought Bitcoin at least once a month, demonstrating its commitment to accumulation. The firm models its strategy after MicroStrategy, one of the largest Bitcoin holders in Asia.

MicroStrategy often makes substantial lump-sum purchases, with its last acquisition in September totaling over $458 million, bringing its total holdings to 252,220 BTC worth around $9.9 billion.

Best Time for Bitcoin Deal

Metaplanet's recent put options deal with QCP Capital appears strategic, considering the market's current state. As of press time, Bitcoin's price has dropped by 1.1% in 24 hours, trading at $61,217.22.

The cryptocurrency market is undergoing bearish consolidation, influenced by various events, including geopolitical tensions in the Middle East and the U.S. SEC's appeal against the Ripple lawsuit, contributing to market uncertainties that provide investors with discounted prices.

This article was originally published on U.Today