Metaplanet Doubles Down on Bitcoin, Sells Put Options to Generate $1.46M in Premiums

On October 3, the firm announced that it had entered a Bitcoin put options transaction with Singaporean digital asset trading firm QCP Capital.

A Japanese firm named Metaplanet Holdings, which shifted its focus from hotel operations to cryptocurrency investments, has disclosed an innovative use of Bitcoin put options in a recent transaction.

According to an announcement on October 3, Metaplanet sold 223 Bitcoin put options contracts to QCP Capital, a digital asset trading firm based in Singapore. These contracts have a strike price of $62,000 and will expire on December 27, 2024.

The sale of these contracts brought in 23.97 BTC in options premiums for the company, which was valued at around $1.46 million at the time.

Bitcoin put options are financial instruments that grant the buyer the option, but not the obligation, to sell Bitcoin at a specified price before a particular date.

Metaplanet has gained attention for its aggressive Bitcoin acquisition strategy, which has drawn comparisons to the American firm MicroStrategy, which has also made substantial cryptocurrency investments under the direction of Michael Saylor.

Since May 2024, Metaplanet has held Bitcoin as its main treasury reserve asset, which has significantly increased its stock value. The company's stock has increased by more than 532% this year due to this strategy, showing investors' strong faith in its Bitcoin-centric approach.

Metaplanet's shift from traditional hotel operations to crypto-focused investment aligns with a broader trend among Japanese enterprises.

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