Metaplanet Pushes Bitcoin Holdings to $40M After Latest Acquisition

• Metaplanet has advanced its Bitcoin accumulation strategy.
• The company added millions worth of BTC to its holdings with a fresh acquisition.
• The development came after the company sold Bitcoin options last week to earn more BTC.

Japanese investment firm Metaplanet has continued with its Bitcoin buying spree, adding millions worth of the original cryptocurrency to its multimillion-dollar balance sheet.

The latest purchase followed another $6.9 million BTC acquisition on October 1, which brought the company’s total Bitcoin holdings to $32.2 million. Before the development, Metaplanet CEO Simon Gerovich reiterated the company’s commitment to BTC, ruling out the possibility of diversifying into altcoins like other companies in the country, such as Remixpoint.

Metaplanet’s BTC Holdings Tops $40 Million

According to a notice issued on October 7, Metaplanet has acquired additional Bitcoins worth 1 billion yen ($6.74 million). The 108.786 Bitcoins were bought at an average price of 9,192,359 yen ($61,943) per BTC.

Metaplanet said the fresh acquisition brought its total Bitcoin holdings to 639.503 BTC, which were bought at an aggregate amount of 5.965 billion yen ($40.32 million) or an average price of 9,326,856 yen ($62,906) per BTC.  

In addition to buying the world’s largest crypto asset by market cap last week, Metaplanet reported earning 23.972 BTC (valued at about $1.52 million) by selling Bitcoin options and collecting premiums to bolster its total holdings.

“This transaction allows the company to capitalize on Bitcoin’s volatility by generating premium income while maintaining a fully cash-secured position. By selling 223 Bitcoin put options, the company is able to increase its Bitcoin holdings if the market price falls below the strike price of 62,000 USD per Bitcoin at maturity,” Metaplanet said in a notice .

The company explained that the strategy reinforced its balance sheet and aligned with its ongoing financial strategy to strengthen long-term Bitcoin exposure while improving its position and path toward profitability.

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