Read the latest update on Metaplanet Buys 1,007 More Bitcoin As Treasury Hits 20,000 BTC.
Strategy, Twenty One Capital and Metaplanet still face a funding bind as common-equity discounts collide with debt, pledged coins and dilution.
The post Bitcoin hit $80,000 but failed to restore BTC treasury premiums at Strategy, Twenty One Capital, or Metaplanet appeared first on CryptoSlate.
Metaplanet Moves 2,100 BTC Into US Expansion Through Superplanet Deal - Read the full analysis.
The proposed deal hands Metaplanet 95.7% at closing, while later capital depends on unexercised warrants and an optional preferred right.
The post Metaplanet’s US Bitcoin treasury bet could unlock up to $3.4 billion, but there’s a catch appeared first on CryptoSlate.
Metaplanet Unit Secures ¥9.66B Financing As Bitcoin Treasury Plan Expands - Read the full analysis.
Both resolutions need 75% of votes cast, and failure of either keeps the sale and delisting off the table.
The post Bitcoin treasury troubles reach London as company votes to sell its entire BTC stack and delist appeared first on CryptoSlate.
Bitcoin’s more than $10 billion corporate credit market is still attracting new entrants after a June selloff triggered margin calls and drove its leading preferred shares far below par. A new report from BitcoinTreasuries.net described the downturn as the sector’s first meaningful stress test, offering an early measure of whether companies can reliably build financing […]
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On June 22, Strategy sold $335.5 million of its own common stock, set aside roughly $300 million of it in cash to bring its reserve up to $1.4 billion, and bought a total of 520 Bitcoin with what was left. So the company that wrote the entire corporate Bitcoin playbook spent the bulk of a […]
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The Layer 2 had uptime, transactions and integrations, but BTCFi demand is moving through wrappers and institutions.
The post Bitcoin DeFi’s demand problem is becoming harder to ignore appeared first on CryptoSlate.
Metaplanet posted a $725.6 million net loss driven by bitcoin mark-to-market valuation markdowns even as operating profit rose 283%.
In the first quarter of this year, Metaplanet purchased 5,075 BTC, bringing its total to 40,177 BTC as of March 31.
Metaplanet added 5,075 BTC, increasing its total holdings to 40,177 BTC and placing it third among public treasury companies.
The Japanese bitcoin treasury firm structured the financing with premium-priced shares and warrants that could unlock up to $531 million.
Metaplanet has raised $255M from investors, with warrants potentially lifting funding to around $531M for its long-term 210,000 BTC strategy.
Tokyo-listed Metaplanet is expanding beyond holding BTC into funding, incubating, and granting to companies building bitcoin financial infrastructure.
The venture capital arm will deploy 4 billion yen ($25 million) over the next few years to local bitcoin infrastructure firms.
Metaplanet CEO Simon Gerovich pushed back against online criticism of the company's transparency and bitcoin strategy.
Simon Gerovich defends disclosure standards, options trading model, and hotel operations.
Analysts say Metaplanet’s bitcoin-linked income business is becoming critical to funding expansion while avoiding forced BTC sales.
Metaplanet posted a $619 million FY2025 loss on its bitcoin valuation, while its total holdings jumped to 35,102 BTC and revenue surged.
The company recorded a non-cash bitcoin valuation loss of 102.2 billion yen ($650 million) due to the cryptocurrency’s price drop.
Metaplanet, Asia's largest publicly traded holder of bitcoin, is currently deep in the red, with its average acquisition cost per bitcoin at roughly $107,000.
Bitcoin treasuries are designed to look uncomfortable in drawdowns, because the trade they're running is simple: take a volatile asset, put it on a corporate balance sheet, and finance more of it through capital markets. When Bitcoin drops, the mark-to-market hit is the point, not the punchline. The real question is whether the company can […]
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Metaplanet targets up to $137 million in total potential funding through shares and warrants for its bitcoin treasury plans.
The Tokyo-based bitcoin treasury company secures fresh capital through a share and warrant issuance.
The company forecasts revenue of over $100 million for FY2026, with 97.5% of projected sales coming from its Bitcoin Income Generation business.
Despite the losses, Metaplanet raised its 2025 earnings projection on the back of its bitcoin income generation business.
Arthur Hayes is positioning for a 2026 liquidity rebound, arguing that Bitcoin’s weak 2025 wasn’t a referendum on “crypto narratives” so much as a straightforward dollar-credit story. In his latest essay, “Frowny Cloud,” the Maelstrom CIO says he is adding risk via Strategy (MSTR), Japan’s Metaplanet, and Zcash (ZEC) as he expects US dollar liquidity to inflect higher after a year in which Bitcoin lagged both gold and US tech stocks. Hayes frames 2025 as an awkward year for the standard cross-asset shorthand that treats Bitcoin as either digital gold or a high-beta proxy for US tech. In his telling, Bitcoin behaved “as expected” under tightening conditions, while gold and the Nasdaq 100 rose for different reasons despite falling dollar liquidity. Related Reading: Here’s Why Bitcoin Volatility Sparks Fresh Attention On MicroStrategy He argues gold’s bid is being driven by sovereign balance sheets rather than retail mania, rooted in distrust of US Treasury exposure after prior asset-freeze precedents. “If the US president steals your money, it’s an instant zero. Does it then matter what price you buy gold at?” he writes, casting central banks as price-insensitive buyers. On equities, Hayes leans into an industrial-policy interpretation of the AI trade. His claim is that the US and China have effectively treated “winning AI” as strategic, dulling the usual market discipline and helping explain why the Nasdaq decoupled from his dollar-liquidity index in 2025. That divergence matters because it sets up his core takeaway for 2026: Bitcoin needs expanding dollar liquidity to regain momentum. “Bitcoin and the Nasdaq rise when dollar liquidity expands. The only problem is the recent divergence,” Hayes writes, before returning to the “vicissitudes of dollar liquidity” as the primary driver he wants to track. The Three-Pillar Liquidity Pitch Hayes’ 2026 outlook hinges on a sharp rebound in dollar credit creation. He cites three channels: a growing Fed balance sheet via Reserve Management Purchases (RMP), commercial-bank lending into “strategic industries,” and lower mortgage rates catalyzed by policy-driven demand for mortgage-backed securities. In his account, quantitative tightening faded as a dominant headwind in late 2025, with QT ending in December and RMP beginning as a new, steady buyer. He claims RMP “at a minimum” expands the balance sheet by $40 billion per month, and expects that pace to rise as government funding needs increase. The second leg is bank credit creation, which he says accelerated in 4Q25, with large lenders willing to extend loans where government equity stakes or offtake agreements reduce default risk. The third is housing: Hayes points to Trump-backed directives for Fannie Mae and Freddie Mac to deploy $200 billion toward MBS purchases, arguing that lower mortgage rates could unlock a familiar wealth effect and, by extension, more credit. Related Reading: Bitcoin Accumulation Continues: Strategy Purchases 1,287 BTC Amid Rising Prices He ties the pieces together with a simple conclusion: if liquidity turns, Bitcoin should follow. “Bitcoin … and dollar liquidity bottomed around the same time,” he writes, arguing that the next major leg depends less on sentiment than on renewed credit expansion. MSTR, Metaplanet, And ZCash Hayes describes himself as a “degen speculator” and says Maelstrom is already “nearly fully invested,” but he still wants “MOAR risk” to capture upside convexity if Bitcoin reclaims higher levels. Rather than using perpetuals or options, he says he’s long Strategy and Metaplanet for levered exposure via corporate balance sheets. His timing argument is valuation-relative: he compares each company’s “DAT” to Bitcoin priced in the relevant currency (yen for Metaplanet, dollars for Strategy) and says those ratios sit near the low end of the past two years, after being “down substantially” from mid-2025 peaks. He adds a key condition: “If Bitcoin can retake $110,000, investors will get the itch to go long Bitcoin through these vehicles. Given the leverage embedded in the capital structure of these businesses, they will outperform Bitcoin on the upside.” He also flags continued accumulation of Zcash. Hayes argues the departure of developers at Electric Coin Company (ECC) is not bearish: “We continue to add to our Zcash position. The departure of the devs at ECC is not bearish. I firmly believe they will ship better, more impactful products within their own for-profit entity. I’m thankful for the opportunity to buy discounted ZEC from weak hands.” At press time, MSTR traded at $179.33. Featured image from YouTube, chart from TradingView.com
Metaplanet shares approached the 637 yen trigger that reactivates the company’s moving strike warrants and unlocks hundreds of millions for new bitcoin purchases.
Select bitcoin treasury equities gained after MSCI removed near-term index exclusion risk.