The Japanese hotel company Metaplanet (3350) bought an additional 696 BTC ($ 58.5 million), bringing its total hiding place to 4,046 BTC.
Metaplanet bought Bitcoin for an average purchase price of almost 14.6 million yen ($ 97,500) for a total expenditure of 10.15 billion yen.
The total assets of the BTC company was purchased for an average price of around $ 86,500.57 per room.
Metaplanet financed its purchases in the first quarter thanks to the sale of PUT BTC options guarantees in cash – term contracts which bet on the price of the drop in underlying assets.
These options were written at the beginning of the quarter, when BTC has evolved summit of $ 100,000. Metaplanet said he had won 770.3 million in income using this method.
“Compared to the direct purchase at that time, the strategy allowed the company to acquire more bitcoin by Yen deployed – benefiting from premium income and a reduced effective cost base,” Metaplanet said in a press release.
Metaplanet’s latest BTC purchase makes it the ninth largest public Bitcoin holder, according to data followed by Bitcoin Treasuries.
The actions listed in Tokyo of the company closed 2% at 409 Yen on Tuesday, surpassing the Nikkei 225 comfortably, which was unchanged during the day.
