Japanese investment firm Metaplanet has adjusted its Bitcoin put options as part of a strategy to increase revenue.

Metaplanet Option Adjustment

Metaplanet announced raising the strike price of its Bitcoin put options from $62,000 to $66,000. This adjustment was made to capture greater returns amidst a bullish market outlook.

Strategy and Revenues

CEO Simon Gerovich stated that the move brought an additional bonus of JPY57.9 million ($388,000), increasing total earnings for the year to JPY272.5 million ($1.8 million). Metaplanet bought back 223 Bitcoin put options at $62,000, selling 223 new options at $66,000. This strategy yielded a premium of 5.9 BTC and increased nominal option returns by 2.65%.

Latest Bitcoin Investments

In October, Metaplanet has been actively increasing its Bitcoin reserves. On October 17, it purchased 106,976 BTC worth approximately $6.7 million, bringing total holdings to 855,478 BTC, worth around $57.4 million.

Metaplanet is actively working to optimize its investment strategy, focusing on increasing its Bitcoin reserves and option adjustments to maximize profitability.