Japanese investment firm Metaplanet has increased its Bitcoin holdings once again, driving its stock price up by more than 10%. On October 7, the Tokyo-listed company revealed that it had purchased an additional 108.78 Bitcoin, worth approximately $6.92 million. The latest buy brings its total Bitcoin holdings to 639.5 BTC, valued at around $40.5 million.
Metaplanet’s Growing Bitcoin Stash
Often compared to the American firm MicroStrategy for its aggressive Bitcoin buying strategy, Metaplanet has been steadily increasing its cryptocurrency reserves. In the past week alone, the company acquired over 215 BTC, including a prior purchase of 107.91 BTC on October 1.
Metaplanet’s strategic decision to adopt Bitcoin as its primary treasury reserve asset has paid off. Since it started accumulating Bitcoin in May 2024, the company’s stock price has tripled. As of October 7, its stock surged 11%, reaching a high of 1,047 Japanese yen (around $7).
Options Strategy Boosts Bitcoin Reserves
On October 3, Metaplanet used an options strategy to further increase its Bitcoin reserves. The company sold 223 Bitcoin put options contracts with a strike price of $62,000, set to mature on December 27. This move earned the firm an additional 23.97 BTC, worth roughly $1.46 million at the time.
Bitcoin put options allow the buyer to sell at a predetermined price before a specific date. CEO Simon Gerovich explained that this strategy enables Metaplanet to grow its Bitcoin holdings without taking on more financial risk. The company aims to generate extra income through these options strategies on part of its assets.
Metaplanet’s Partnership with SBI Holdings
In early September, Metaplanet announced a partnership with SBI Holdings’ crypto division. This collaboration aims to improve Metaplanet’s cryptocurrency trading, storage, and management capabilities. SBI Holdings is one of Japan’s largest finance groups, and the partnership is expected to strengthen Metaplanet’s position in the crypto market.
By continuing to expand its Bitcoin holdings and exploring new strategies, Metaplanet is solidifying its reputation as a major player in the crypto investment space.
