2 months ago
Japanese edifice institution Metaplanet (3350) has purchased an further 696 BTC ($58.5 million), taking its full stash to 4,046 BTC.
Metaplanet purchased the bitcoin for an mean acquisition terms of astir 14.6 cardinal yen ($97,500) for a full walk of 10.15 cardinal yen.
The company's full BTC holdings were bought for an mean terms of astir $86,500.57 per coin.
Metaplanet financed its purchases successful Q1 done the merchantability of currency secured BTC enactment options - futures contracts which stake connected the terms of the underlying plus going down.
These options were written astatine the opening of the quarter, erstwhile BTC was scaling all-time highs supra $100,000. Metaplanet said it earned 770.3 cardinal yen successful gross utilizing this method.
"Relative to nonstop spot acquisition astatine that time, the strategy enabled the institution to get much bitcoin per yen deployed - benefitting from premium income and a reduced effectual outgo basis," Metaplanet said successful a connection connected Tuesday.
Metaplanet's latest BTC acquisition makes it the ninth largest nationalist holder of bitcoin, according to information tracked by Bitcoin Treasuries.
The company's Tokyo-listed shares closed 2% astatine 409 yen connected Tuesday, comfortably outperforming the Nikkei 225, which was unchanged connected the day.
English (US) 