Metaplanet, a Tokyo-listed company, has increased its bitcoin holdings to 639.5 BTC, marking a total investment near 6 billion yen, acquiring it as a reserve asset to hedge against currency volatility.
The company’s recent strategy includes selling bitcoin put options, which allowed them to earn 23.972 BTC in premiums, subsequently funding further bitcoin purchases.
Metaplanet now boasts the second-largest bitcoin stash among Asia-listed companies, trailing only Meitu, with significant investments in the cryptocurrency as part of its financial strategy.
With a year-to-date increase of over 500%, Metaplanet's shares saw a 7.9% rise following its latest bitcoin purchase, reflecting positive market sentiment.
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