The Japanese Hotel Company Metaplenet (3350) has bought additional 696 BTC ($ 58.5 million), carrying its total stash at 4,046 BTC.
Metaplanet bought the Bitcoin for an average purchase price of almost 14.6 million yen ($ 97,500) for a total expenditure of 10.15 billion yen.
The company’s BTC holdings were bought for an average price of around $ 86,500.57 per currency.
Metaplanet financed its purchases in the first quarter through the sale of BTC sales options insured in cash: futures contracts that bet on the price of the underlying asset that decreases.
These options were written at the beginning of the quarter, when BTC was expanding maximums of all time above $ 100,000. Metaplenet said he won 770.3 million yen in revenues using this method.
“In relation to direct purchase at that time, the strategy allowed the company to acquire more bitcoin for yen deployed, benefiting from premium revenues and a reduced effective cost base,” Metaplanet said in a statement on Tuesday.
The last purchase of BTC of Metaplenet makes it the largest public headline in Bitcoin, according to data tracked by Bitcoin Treasury bonds.
The shares that quote in Tokyo of the company closed 2% in 409 yen on Tuesday, comfortably surpassing the Nikkei 225, which did not change the day.
