Japan’s MicroStrategy Acquires More Bitcoin Through Put Options Sale

Metaplanet, a firm often compared to “Japan’s MicroStrategy,” has recently acquired an additional 23.9 BTC as part of its Treasury Allocation strategy. The company announced this development on X, revealing that it secured this amount by selling put options.

### Metaplanet’s Ongoing Commitment to Bitcoin

Metaplanet disclosed that it entered into a Bitcoin Options contract transaction with QCP Capital. This transaction involved a total of 223 contracts, set to mature in December 2024, at a price of $62,000 per BTC. The firm generated a nominal yield of 10.75%, resulting in a total premium of 23.972 BTC, equivalent to 8.95 million yen. As a result of this transaction, Metaplanet’s total Bitcoin holdings now stand at 530.717 BTC, valued at approximately 4.965 billion yen.

Since July, Metaplanet has consistently purchased Bitcoin on a monthly basis, demonstrating its commitment to accumulating the cryptocurrency. The company aligns its strategy closely with that of Michael Saylor’s MicroStrategy, which is known for its significant Bitcoin acquisitions.

MicroStrategy’s last major purchase occurred in September, when it acquired over $458 million worth of Bitcoin, increasing its total holdings to 252,220 BTC, valued at about $9.9 billion at the time.

### Strategic Timing for Bitcoin Transactions

Metaplanet’s recent foray into a put options deal with QCP Capital appears to be a calculated decision in light of current market conditions. As of the latest updates, Bitcoin’s price has dipped by 1.1% over the past 24 hours, with the current trading price around $61,217.22.

The broader market is experiencing a bearish phase, influenced by various factors, including ongoing geopolitical tensions in the Middle East and the U.S. SEC’s appeal in a significant lawsuit, contributing to increased uncertainty and providing investors with potential buying opportunities at reduced prices.