Key Details:

• Metaplanet has acquired an additional 696 BTC (valued at $58.5 million), bringing its total holdings to 4,046 BTC.
• The company made these purchases at an average price of approximately 14.6 million yen (or $97,500) for a cumulative total of 10.15 billion yen.
• Their total Bitcoin inventory was acquired for about $86,500.57 per coin.
• To finance these acquisitions in Q1, Metaplanet utilized the sale of cash-secured BTC put options—futures contracts that predict a decline in the asset’s price.

The organization has stated that using this method allowed them to secure additional Bitcoin per yen invested, as they benefited from premium income and a lower effective cost basis.

As of this transaction, Metaplanet ranks as the ninth largest public Bitcoin holder, according to Bitcoin Treasuries record keeping. Their shares are publicly traded in Tokyo and had a 2% rise to 409 yen during the trading session amidst a stagnant Nikkei 225.