Japanese investment firm Metaplanet Inc. has updated its position by moving the Bitcoin put options it announced on Oct. 3 to a higher strike price. The firm raised the strike price of the options from $62,000 to $66,000 and stated that it remains optimistic about Bitcoin’s future.
Metaplanet announced today that the existing Bitcoin put options have been replaced with new options with the same expiration date (December 27).
The company’s CEO, Simon Gerovich, stated that this transaction increased the nominal return from the option sales and earned an additional 57.9 million yen (about 5.9 BTC) in premiums. With this additional income, the total premium gain was 272.5 million yen, which will be recorded as income by the end of the year.
Continues to support Bitcoin
Metaplanet bought back 223 Bitcoin put options with a strike price of $62,000 and resold the same number of options with a strike price of $66,000. The company said this adjustment increased the nominal yield by 2.65% to a total of 13.40%, while the collateral used for the option transactions remained constant at around $13.8 million.
Metaplanet, which has adopted Bitcoin as a strategic treasury reserve asset in recent months, has stepped up its Bitcoin purchases. The company announced on Tuesday that it purchased an additional 106,976 Bitcoins worth 1 billion yen ($6.7 million), bringing its total holdings to 855,478 BTC (about $57.4 million).
Stay tuned for new information.
