Bitcoin

Contribute

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/metaplanet-increases-bitcoin-holdings-significantly-2" data-wpel-link="internal" rel="noopener noreferrer nofollow">Metaplanet Increases Bitcoin Holdings Significantly</a><br></p>
<p style="text-align: justify">Japanese publicly-listed firm Metaplanet has ramped up its <a href="https://en.bitcoinhaber.net/bitcoin-faces-key-resistance-level" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> acquisitions, now holding a total of 639 <a href="https://en.bitcoinhaber.net/bitcoins-volatile-price-movement-what-does-it-mean-for-altcoins" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>. The latest purchase, disclosed on Monday, adds to the company’s already extensive Bitcoin portfolio.</p>
<h2 id="what-is-metaplanet-s-bitcoin-strategy">What Is Metaplanet’s Bitcoin Strategy?</h2>
<p style="text-align: justify">On October 7, the company announced the acquisition of 108.78 BTC. Since May 2024, Metaplanet has consistently invested in Bitcoin, accumulating a total of approximately 6 billion Japanese yen in this digital asset.</p>
<h2 id="how-does-options-trading-contribute-to-revenue">How Does Options Trading Contribute to Revenue?</h2>
<p style="text-align: justify">Recently, Metaplanet generated revenue by acquiring Bitcoin valued at $1.4 million through options trading. The firm sold put options worth $62,000, with a maturity date of December 27, 2024. The premium from these options, amounting to 23.97 BTC, will be recognized as income.</p>
<p style="text-align: justify">With its stock currently trading at about 1045, Metaplanet has experienced a 14% gain. This reflects a remarkable 544% increase year-to-date, although it remains 66% below its highest trading value recorded in May. Meanwhile, shares of MicroStrategy are up by 8% this year.</p>
<p style="text-align: justify">In early trading, Bitcoin’s price exceeded $63,600, marking a rise of over 3%. Analysts predict a robust ascent for Bitcoin, especially after its fall below $60,000 earlier this month. Historically, Bitcoin has surged by 31.72% following similar low points.</p>
<ul>
 <li>Metaplanet is actively acquiring Bitcoin as part of its long-term strategy.</li>
 <li>The company’s options trading successfully contributed to its revenue stream.</li>
 <li>Analysts are optimistic about Bitcoin’s potential rise by the end of October.</li>
</ul>
<p style="text-align: justify">The recent developments suggest that October could be pivotal for the Bitcoin market. Metaplanet’s proactive investments and stable growth strategies are likely to influence overall market trends positively.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/metaplanet-increases-bitcoin-holdings-significantly-2" data-wpel-link="internal" rel="noopener noreferrer nofollow">Metaplanet Increases Bitcoin Holdings Significantly</a></h5>

Metaplanet Increases Bitcoin Holdings Significantly

Table of Contents

BH NEWS

Other articles published on Oct 7, 2024

Ethereum Improvement Proposal EIP-7781 to Reduce Slot Time

Scammers Halt Operations on TON Network

Jim Cramer funding movements from tech stocks and crypto

Critical Week for Crypto Investors: 22 Altcoins Unlocking Tokens!

Dan Gallagher candidate for SEC chair

How A Crypto Trader Made $4.36M in a Month off of Popcat Price

Join our free newsletter for daily crypto updates!