BlockBeats news reported on October 3 that Japanese listed company Metaplanet had recently entered into a Bitcoin options transaction with QCP Capital, a digital asset trading company based in Singapore. The transaction involved selling Bitcoin put options, with Metaplanet selling 233 Bitcoin put options at a strike price of $62,000 expiring on December 27, resulting in a premium payment of 23.97 BTC.

Metaplanet expressed that this strategic move not only boosts their Bitcoin reserves but also strengthens their balance sheet. This aligns with their ongoing financial strategy of increasing long-term exposure to Bitcoin, enhancing their financial position, and supporting profitability goals. The premium funds generated from the options transaction are earmarked for purchasing more Bitcoin. Selling put options, also known as “target buying,” is a method that Metaplanet utilizes to acquire more Bitcoin. Their plans for utilizing the funds remain unchanged.

(Source: [BlockBeats news](https://m.theblockbeats.info/news/265641))