Japanese investment firm Metaplanet signed an interesting transaction and sold its contract, also known as ‘put options’ in futures trading. As it is known, such contracts are considered as transactions for the decline of the relevant asset and the investor gets the right to sell this asset above the normal price.

Metaplanet also made a serious profit on the put option contract and earned $1.46 million. The company thus added 23.9 BTC to its Bitcoin reserves.

$14 million collateral

The transactions were made through QCP Capital and were executed when the Bitcoin price fell below $62,000. It was stated that the margin collateral in such transactions was $13.8 million.

It was also informed that there is no additional risk in the current position, as it is a cash-collateralised transaction and at the same time, there is already a profit.

Company CEO Simon Gerovich tweeted, “Bitcoin is a volatile asset and this can sometimes create some opportunities. Although most of our assets are in Bitcoin, we can sometimes use some of them in such strategies.”