Tokyo-based investment firm Metaplanet Inc recently revised its bitcoin strategy, changing the put option price from US$62,000 to US$66,000.
The strategy change, which was announced on October 3, aims to unlock the potential of #bitcoin by increasing option yields while maintaining the original expiration date of December 27.
In this strategy, Metaplanet repurchased 223 options at a lower strike price and issued the same number at a higher price of $66,000. The adjustment is expected to generate an additional 57.9 million in premium, bringing the annualized premium to 272.5 million, according to CEO Simon Gerowitz. The collateral for these transactions remains unchanged at $13.8 million.
the strategy revision, the nominal yield increased by 2.65% to 13.4%. Metaplanet has been steadily increasing its bitcoin holdings. Recently, the company acquired about 107 #BTC (worth about US$6.7 million), bringing its total assets to about 855.5 BTC.
At the time of the announcement, the bitcoin price was around US$67,097, and Metaplanet's stock price rose nearly 7% on the back of the news. Overall, companies such as #MicroStrategy and Marathon Digital continue to own significant amounts of bitcoin and remain large corporate holders of the #cryptocurrency .
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