Japanese investment firm Metaplanet has acquired 23.97 Bitcoin from an options transaction with QCP Capital, a Singapore-based digital asset trading firm. This acquisition brings Metaplanet’s total Bitcoin holdings to 530.72 BTC.

Bitcoin Options Transaction with QCP Capital

In an Oct. 3 notice, Metaplanet announced its Bitcoin options transaction deal with QCP Capital. The firm sold 223 contracts worth $62,000 in put options, set to expire on Dec. 27, 2024. This transaction resulted in a profit of 23.97 BTC in option premiums, recognized as revenue.

“This transaction allows the company to capitalize on Bitcoin’s volatility by generating premium income while maintaining a fully cash-secured position,” the company stated in its notice.

Combined with a prior purchase worth $6.94 million, one of its largest single acquisitions, Metaplanet now holds 530.72 BTC, valued at approximately $32.55 million as of Oct. 3.

Strategic Approach to Bitcoin Investments

By selling 223 Bitcoin put options, Metaplanet stands to increase its Bitcoin holdings if the market price drops below $62,000 at maturity.

“This strategy not only enhances the company’s Bitcoin reserves but also reinforces its balance sheet, aligning with our ongoing financial strategy to strengthen long-term Bitcoin exposure,” said Metaplanet.

Since the weakening of Japan’s currency in May 2024, Metaplanet has been increasing its Bitcoin holdings to mitigate economic challenges. The company announced its decision to adopt Bitcoin as a reserve asset and has since invested 4.96 billion yen, with an additional ¥215 million from the latest put options sale.

Future Plans and Market Influence

Metaplanet also plans to raise $70 million through stock rights offerings, committing to allocate over 80% of the funds to its Bitcoin strategy. This move highlights a growing trend among Japanese investment managers, who are increasingly interested in exploring crypto investments.

On Oct. 1, Japan’s new Prime Minister, Shigeru Ishiba, released policy documents supporting a pro-blockchain strategy aimed at boosting the economy through local assets like food and tourism on a global scale.

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