Metaplanet Expands Bitcoin Holdings to 4,046 BTC with $58.5 Million Acquisition
Japanese hotel operator Metaplanet (3350) has purchased an additional 696 BTC, worth $58.5 million, bringing its total Bitcoin holdings to 4,046 BTC.
The latest purchase was made at an average price of approximately 14.6 million yen ($97,500) per Bitcoin, resulting in a total expenditure of 10.15 billion yen. This brings the company’s overall Bitcoin purchase price to an average of $86,500.57 per coin.
To fund the acquisition, Metaplanet employed a unique strategy involving the sale of cash-secured Bitcoin put options—futures contracts that benefit from a decline in the price of the underlying asset. The options were written at the start of Q1 when Bitcoin was reaching new all-time highs above $100,000. By utilizing this approach, the company earned 770.3 million yen in revenue.
The strategy allowed Metaplanet to acquire more Bitcoin for the same capital, benefiting from the premiums while effectively reducing its cost basis for the cryptocurrency.
With the latest acquisition, Metaplanet now ranks as the ninth-largest publicly listed Bitcoin holder, according to data from Bitcoin Treasuries.
Following the announcement, Metaplanet’s stock rose by 2%, closing at 409 yen, outpacing the Nikkei 225, which remained unchanged for the day.
