As the senior analyst at CoinDesk, James specializes in Bitcoin and the macro environment. Previously, his role as a research analyst at Swiss hedge fund Saidler & Co. introduced him to on-chain analytics. He monitors ETFs, spot and futures volumes, and flows to understand Bitcoin.
Metaplanet sold 223 contracts of bitcoin put options, earning 23.972 BTC in premium income.If bitcoin falls below $62,000, Metaplanet will have to acquire an additional 223 BTC while keeping the premium income.On Tuesday, Metaplanet announced the sale of 223 contracts of bitcoin put options at the $62,000 strike with a maturity date of Dec. 27. The transaction involved Singapore-based QCP Capital as the counterparty and generated a premium of 23.972 BTC .
The $13.826 million of margin collateral came from the proceeds raised during Metaplanet's eleventh stock acquisition rights exercise. The purpose of this collateral is to ensure Metaplanet can meet the transaction if the option is exercised.Metaplanet will use the premium received by selling put options to purchase more bitcoin. The company’s total bitcoin holdings now stand at 530.717 BTC .
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