Bitcoin holder Metaplanet sells BTC options to boost coin stash

If the bitcoin price falls below $62,000 by the expiration date, the buyer will likely exercise the option, forcing Metaplanet to buy 223 bitcoins at the higher strike price. Therefore, Metaplanet’s bitcoin holdings would increase by 223 bitcoins even though the market price as of December 27 is lower, however the premium partially offsets the spot price risk.