Japanese investment firm Metaplanet said it generated 23.9 Bitcoin ($1.4m) in premium income from selling 223 Bitcoin put options to QCP Capital, a Singapore-based digital asset trading firm. The premium collected amounted to 0.1075 Bitcoin per contract, the company said in a statement Thursday.
Metaplanet stated that this deal allows it to capitalize on Bitcoin’s volatility, earning premium income while maintaining a fully cash-backed position.
Seyffart and his boss, Eric Balchunas, gained prominence in the ETF space, particularly for their analysis of Bitcoin and Ethereum ETFs.
By selling 223 Bitcoin put options, Metaplanet is also positioned to increase its Bitcoin holdings if the market price falls below the $62,000 strike price at maturity.
“This strategy not only enhances the company’s Bitcoin reserves but also reinforces its balance sheet, aligning with our ongoing financial strategy to strengthen long-term Bitcoin exposure and improve the company’s financial position, supporting its path toward profitability,” it added.
