Hold onto your hats, Bitcoin maximalists: Metaplanet, a Japanese hotel group, just dropped another $58.5 million on BTC, pushing its total holdings to over 4,000. The Tokyo-based company (3350) added 696 bitcoin to its reserves, bringing its total to 4,046 BTC and solidifying its position as the ninth-largest public holder of the cryptocurrency.
Metaplanet disclosed that this latest Bitcoin acquisition, totaling 696 BTC, came at an average purchase price of roughly 14.6 million yen—about $97,500—and cost the company a total of 10.15 billion yen.
Interestingly, Metaplanet funded these Q1 purchases through a clever financial maneuver: selling cash-secured BTC put options. By betting on a price decrease through these futures contracts, the company generated 770.3 million yen in revenue.
According to Metaplanet, this strategy wasn’t just about revenue—it was about efficiency. Compared to simply buying Bitcoin outright when prices were hitting all-time highs above $100,000, selling put options allowed them to “acquire more bitcoin per yen deployed,” effectively lowering their average cost per coin, which now sits around $86,500.57 across their entire 4,046 BTC stash.