Hold onto your hats, crypto fans! Metaplanet, the Tokyo-listed Bitcoin enthusiast, is making waves again with its latest bold move. The company's stock took a thrilling rollercoaster ride, surging over 12% on October 7th before dipping to 988 yen. But that's not all! Metaplanet has just added a whopping 108.786 Bitcoin to its treasure chest, thanks to a cool 1 billion yen purchase. That's roughly $6.7 million worth of digital gold, folks!
Nicknamed Japan's MicroStrategy, Metaplanet is clearly showing its love for Bitcoin by now holding a staggering 639.503 BTC, valued at a sweet $40.6 million. They snagged the newest batch at an average price of 9.19 million yen per coin, while their overall Bitcoin shopping spree averages 9.32 million yen per Bitcoin.
This isn't just a fling with Bitcoin; Metaplanet's been on a buying spree for months, making the cryptocurrency a star player in its financial strategy. Just last week, they announced scooping up another 107.913 BTC for about 1 billion yen. Talk about commitment!
Interestingly, back in August, Metaplanet secured a nifty 1 billion yen loan from MMXX Ventures, promising to pump up its Bitcoin reserves. With a super-low 0.1% annual interest rate and a six-month term, they're all set to keep adding to their digital collection.
In a twist, Metaplanet also sold 223 Bitcoin put option contracts with a $62,000 strike price, set to mature on December 27. Partnering with Singapore's QCP Capital, they pocketed a premium of 23.972 BTC, worth $1.44 million. The deal included $13.826 million in collateral and netted a juicy nominal return of 10.75%, with an annualized return hitting 45.63%.
So, stay tuned, because Metaplanet's Bitcoin adventure is far from over, and who knows what they'll do next in this crypto-crazy world!
