Metaplanet adds BTC holdings after put options sale with QCP Capital

Metaplanet, a Japanese investment firm, has increased its BTC holdings after completing a put options sale with Singapore-based digital asset trading firm, QCP Capital. The transaction resulted in Metaplanet acquiring 23.97 Bitcoin, bringing its total Bitcoin holdings to 530.72 BTC. The sale involved 223 put options contracts worth $62,000, set to expire on Dec. 27, 2024. Metaplanet recognized the 23.97 BTC in option premium as revenue and stated that the deal allows the company to leverage Bitcoin’s volatility to generate income while maintaining a cash-secured position. This recent acquisition is part of Metaplanet’s strategy to combat economic challenges by increasing its Bitcoin reserves since the decline of Japan’s currency in May 2024. Alongside this, the firm has invested a total of 4.96 billion yen into Bitcoin with an additional ¥215 million from the put options sale. Metaplanet also intends to raise $70 million through stock rights offerings, with over 80% allocated to its Bitcoin strategy. The company’s move aligns with a broader trend of Japanese investment managers showing a growing interest in crypto investments. The recent election of Japan’s Prime Minister, Shigeru Ishiba, has further reinforced the country’s focus on blockchain and its potential to boost the economy.