Tokyo-listed Bitcoin holder Metaplanet has purchased an additional 108.786 Bitcoin for 1 billion yen, reflecting its ongoing bullish stance on the crypto asset.<\/p>\n
The latest stash is worth around $6.7 million.<\/p>\n
According to the official statement<\/a> released on Monday, Metaplanet \u2013 often referred to as Japan\u2019s MicroStrategy \u2013 now holds 639.503 BTC, with a current market value of around $40.6 million. The firm disclosed that it acquired the additional bitcoins at an average price of 9.19 million yen ($61,880) per coin, while its total bitcoin purchases averaged 9.32 million yen ($62,790) per bitcoin.<\/p>\n The Japanese company has ramped up its bitcoin purchases over the past few months. In May, it declared that it was adopting the cryptocurrency as a key part of its treasury reserve strategy. Last week, it announced<\/a> the acquisition of another 107.913 BTC, worth approximately 1 billion yen ($6.9 million).<\/p>\n Data compiled by Google Finance revealed<\/a> that\u00a0the firm\u2019s stock price jumped over 12% following the announcement on October 7th, peaking at 1,045 yen on the Tokyo Stock Exchange, but later declining to 988 yen.<\/p>\n Metaplanet announced<\/a> in August that it had obtained a 1 billion yen (worth around $6.8 million) loan from shareholder MMXX Ventures to boost its Bitcoin reserves. The loan features a 0.1% annual interest rate and a six-month term, beginning August 8, with repayment in a single lump sum. If the company uses the full loan amount for Bitcoin, it could purchase approximately 118.5 BTC at current prices.<\/p>\n Metaplanet also recently announced<\/a> that it had sold 223 bitcoin put option contracts with a strike price of $62,000 and a maturity date of December 27.<\/p>\n The deal was made with Singapore-based digital asset trading firm QCP Capital as the counterparty. The announcement revealed that Metaplanet received a premium of 23.972 BTC ($1.44 million).<\/p>\n Metaplanet provided $13.826 million in collateral and received a 0.1075 BTC premium per contract upfront. The transaction yielded a nominal return of 10.75% and an annualized return of 45.63%.<\/p>\n The post Metaplanet\u2019s Bitcoin Stash Reaches $40.6 Million After Latest Purchase<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Tokyo-listed Bitcoin holder Metaplanet has purchased an additional 108.786 Bitcoin for 1 billion yen, reflecting its ongoing bullish stance on the crypto asset. The latest stash is worth around $6.7 million. Metaplanet Expands Bitcoin Holdings According to the official statement released on Monday, Metaplanet \u2013 often referred to as Japan\u2019s MicroStrategy \u2013 now holds 639.503 […]<\/p>\n","protected":false},"author":0,"featured_media":12058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12057"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12057"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12058"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Metaplanet\u2019s Strategic Options Sale<\/h2>\n