bullish

Bitcoin

Million

Stash

Tokyo-listed Bitcoin holder Metaplanet has purchased an additional 108.786 Bitcoin for 1 billion yen, reflecting its ongoing bullish stance on the crypto asset.
The latest stash is worth around $6.7 million.
<h2 id="metaplanet-expands-bitcoin-holdings">Metaplanet Expands Bitcoin Holdings</h2>
According to the official <a href="https://contents.xj-storage.jp/xcontents/33500/dbb660db/aa33/424e/9501/a100101104c4/140120241007594264.pdf" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">statement</a> released on Monday, Metaplanet – often referred to as Japan’s MicroStrategy – now holds 639.503 BTC, with a current market value of around $40.6 million. The firm disclosed that it acquired the additional bitcoins at an average price of 9.19 million yen ($61,880) per coin, while its total bitcoin purchases averaged 9.32 million yen ($62,790) per bitcoin.
The Japanese company has ramped up its bitcoin purchases over the past few months. In May, it declared that it was adopting the cryptocurrency as a key part of its treasury reserve strategy. Last week, it <a href="https://cryptopotato.com/metaplanet-makes-another-bitcoin-btc-acquisition-worth-6-9-million/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">announced</a> the acquisition of another 107.913 BTC, worth approximately 1 billion yen ($6.9 million).
Data compiled by Google Finance <a href="https://www.google.com/finance/quote/3350:TYO?hl=en" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">revealed</a> that&nbsp;the firm’s stock price jumped over 12% following the announcement on October 7th, peaking at 1,045 yen on the Tokyo Stock Exchange, but later declining to 988 yen.
Metaplanet <a href="https://cryptopotato.com/metaplanet-obtains-6-8m-loan-to-boost-bitcoin-holdings/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">announced</a> in August that it had obtained a 1 billion yen (worth around $6.8 million) loan from shareholder MMXX Ventures to boost its Bitcoin reserves. The loan features a 0.1% annual interest rate and a six-month term, beginning August 8, with repayment in a single lump sum. If the company uses the full loan amount for Bitcoin, it could purchase approximately 118.5 BTC at current prices.
<h2 id="metaplanet-s-strategic-options-sale">Metaplanet’s Strategic Options Sale</h2>
Metaplanet also recently <a href="https://x.com/Metaplanet_JP/status/1841718887689187627" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">announced</a> that it had sold 223 bitcoin put option contracts with a strike price of $62,000 and a maturity date of December 27.
The deal was made with Singapore-based digital asset trading firm QCP Capital as the counterparty. The announcement revealed that Metaplanet received a premium of 23.972 BTC ($1.44 million).
Metaplanet provided $13.826 million in collateral and received a 0.1075 BTC premium per contract upfront. The transaction yielded a nominal return of 10.75% and an annualized return of 45.63%.
The post <a href="https://cryptopotato.com/metaplanets-bitcoin-stash-reaches-40-6-million-after-latest-purchase/" rel="noopener noreferrer nofollow">Metaplanet’s Bitcoin Stash Reaches $40.6 Million After Latest Purchase</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Metaplanet’s Bitcoin Stash Reaches $40.6 Million After Latest Purchase

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