CandleFocus Metaplanet Scoops Another $6.5 Million in Bitcoin, Doubling Down on Its October Spree
2024-10-11
Author: Content Editor
Tokyo-listed company Metaplanet Inc. has announced that it has acquired an additional 108.999 Bitcoin for $6.5 million, bringing its total Bitcoin holdings to 748.502 BTC. The company employs a sophisticated approach by selling put options alongside its Bitcoin purchases to generate additional yield. Metaplanet is now one of the few Asia-based public companies buying Bitcoin for their treasury, alongside Nexon and Meitu. The firm's Bitcoin strategy is similar to that of MicroStrategy, and it positions Bitcoin investment as "the most valuable thing we can do for our shareholders."
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