Recently, Metaplanet Inc., known as "Japan's MicroStrategy," made a strategic financial move in the crypto market by selling 223 Bitcoin put options, gaining a profit of 23.972 BTC.
The transaction was conducted with QCP capital and is slated to mature in December 2024, continuing Metaplanet’s bullishness on Bitcoin.
In the transaction on Metaplanet, Bitcoin put options at a strike price of $62,000 per BTC with maturity in December 2024. With this strategic move, the firm was able to purchase a hefty premium of 23.972 BTC, equalling about 8.95 million yen.
In treasury management, management adeptly shifts the options market to demonstrate savvy in managing Bitcoin reserves using financial instruments and managing the risk of volatile conditions.
Moreover, the decision to be involved in such high-risk options trading of Bitcoin is solid, considering that Bitcoin prices highly fluctuate. The latest reports indicate that Bitcoin witnessed a very slight price decline, trading at around $61,217.22. The cryptocurrency market is dynamic and often unpredictable, and firms like Metaplanet are becoming increasingly prepared to navigate complex financial means.
Metaplanet has consistently purchased Bitcoin since July, indicating a deliberate and sustained interest in accumulating the digital asset. Following the recent transaction, Metaplanet’s total Bitcoin holdings have risen to 530.717 BTC, valued at approximately 4.965 billion yen.
This aggressive accumulation strategy positions Metaplanet as one of the most significant Bitcoin holders in Asia, paralleling the actions of MicroStrategy under the leadership of Michael Saylor, known for his substantial Bitcoin advocacy and investment.
Metaplanet acts as a model for MicroStrategy, which has been vigorously adding to its Bitcoin holdings. In September alone, the last time it was recorded at $458 million, MicroStrategy purchased the additional Bitcoin to bring its holdings to 252,220 Bitcoins worth, at that time, about $9.9 billion.
Comparative analysis between the strategies of both companies indicates the emergence of a trend among corporations to invest in Bitcoin as a hedge against inflation or as a bet on the long-term value of digital assets.