- Metaplanet’s Bitcoin Income Generation program increased holdings by 696 BTC, generating $5.15 million in operating revenue.
- By leveraging put options and market dips, Metaplanet acquired 645 BTC, positioning itself as Asia’s top corporate Bitcoin holder.
- Metaplanet mirrors MicroStrategy’s strategy, using a Bitcoin-focused approach to fuel growth and secure future capital gains.
Metaplanet Inc., which is a Tokyo-based company, purchased 696 Bitcoin through its Bitcoin Income Generation program, wherein it sells cash-secured put options. Metaplanet basically acquired each Bitcoin at 13.48 million yen using a strategy that was designed to add both recurring revenue and Bitcoin holdings. The action is proof of the company’s commitment to ride the volatility in the price of Bitcoin.
Strategic Move for Revenue Growth
Metaplanet’s put options strategy generated a substantial 770.35 million yen (approximately $5.15 million) in operating revenue. The company deployed 9.386 billion yen in cash collateral and earned over 50 BTC in option premiums. Additionally, it acquired another 645 BTC when options were exercised. The firm’s Bitcoin Income Generation business operates independently from its long-term Bitcoin holdings. By monetizing Bitcoin volatility, Metaplanet creates a recurring income stream while expanding its Bitcoin portfolio.
Besides increasing its holdings, Metaplanet aims to support its broader capital plans. The firm has already achieved 25.7% of its full-year revenue goal of 3 billion yen. Hence, the company’s strategy is proving to be successful, positioning it well for future growth. Metaplanet’s management will decide any future capital deployment based on market conditions.
Leveraging Market Conditions for Strategic Purchases
In addition to its put options strategy, Metaplanet issued zero-interest bonds through its Evo Fund to fuel its Bitcoin purchases. Investors can redeem these bonds at full face value by September 30. The firm took advantage of a Bitcoin price dip, with Bitcoin trading at approximately $82,000.From its peak of more than $109,000, this price is a 25% decrease.
With about 3,200 Bitcoin valued at $1.23 billion, Metaplanet is currently the largest corporate Bitcoin holding in Asia. This positions Metaplanet as the 10th largest Bitcoin holder globally. The company draws comparisons to MicroStrategy, the US-based firm known for its heavy Bitcoin accumulation. Both companies share similar strategies, with Metaplanet closely mirroring MicroStrategy’s Bitcoin-focused approach.
