Hold onto your hats because the crypto rollercoaster is in full swing! Metaplanet, Tokyo's very own Bitcoin aficionado, is making waves again. After some big news, their stock took a joyride, jumping over 12% on October 7th before settling down to 988 yen.
In a bold move, Metaplanet snapped up an extra 108.786 Bitcoin, shelling out a cool 1 billion yen. This purchase is another feather in their cap, underscoring their love affair with Bitcoin, which they see as a golden goose.
All in all, their Bitcoin treasure chest is now brimming with 639.503 BTC, worth a whopping $40.6 million! With their latest buy, they paid an average of 9.19 million yen per coin, showing they mean business.
Metaplanet isn't just dipping its toes in the crypto pool; they're diving headfirst! Back in May, they decided Bitcoin would be the star of their treasury strategy. Just last week, they added 107.913 BTC to their collection for another billion yen. They sure know how to keep things spicy!
Interestingly, Metaplanet secured a 1 billion yen loan from their pals at MMXX Ventures in August, with an almost too-good-to-be-true interest rate of 0.1% per year. If they spend it all on Bitcoin, we're talking about adding approximately 118.5 BTC more to their stash.
But wait, there's more! Metaplanet also played the options game, selling 223 Bitcoin put options with a $62,000 strike price. Partnering with Singapore's QCP Capital, they bagged a sweet premium of 23.972 BTC, or about $1.44 million. This deal brought in a tidy return of 10.75% and an annualized return of 45.63%.
So, what's next for Metaplanet? Only time will tell, but one thing's for sure: they're not slowing down in the crypto-verse anytime soon!
