Metaplanet Inc. Rolls Up Bitcoin Options to $66000

The post Metaplanet Inc. Rolls Up Bitcoin Options to $66000 appeared first on Coinpedia Fintech News

Metaplanet Inc. has successfully executed a roll-up transaction for its Bitcoin put options in collaboration with QCP Capital. The Company repurchased 223 put options with a strike price of $62000 and replaced them with new options at $66000, both maturing on December 27, 2024. This adjustment increases the nominal yield by 2.65%, totaling 13.40%. Metaplanet received 5.9095 BTC as part of this whopping transaction, raising its total BTC holding to 861. 387 BTC. At present the company is facing a potential risk if Bitcoin drops below the new strike price, it will be a call to purchase BTC at $66000.