Japanese publicly-listed firm Metaplanet has ramped up its Bitcoin acquisitions, now holding a total of 639 BTC. The latest purchase, disclosed on Monday, adds to the company’s already extensive Bitcoin portfolio.
What Is Metaplanet’s Bitcoin Strategy?
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.
How Does Options Trading Contribute to Revenue?
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.
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.
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.
- Metaplanet is actively acquiring Bitcoin as part of its long-term strategy.
- The company’s options trading successfully contributed to its revenue stream.
- Analysts are optimistic about Bitcoin’s potential rise by the end of October.
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.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
