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Our friend Stafford is back (#1011075, #1013744), doing excellent reporting at FT:
(Yes, this is the only topic I'm thinking about these days, #1014681, #1019584)

Now, Metaplanet:

Metaplanet, the Japanese hotelier turned bitcoin purchaser, has said it is in a race with rivals to snap up as much of the cryptocurrency as possible so it can leverage its holdings to buy cash-generating businesses. Simon Gerovich, chief executive, told the Financial Times his company was in “a bitcoin gold rush” that could provide the launch pad to expand into areas such as digital financial services.
OK, I guess this is a legit, future-looking entrepreneurial gamble
Gerovich, who was once a Goldman Sachs banker in Tokyo, has built Metaplanet’s stock market capitalisation to more than ¥1tn ($7bn). Although it produces little revenue, its Tokyo-listed shares have surged more than 345 per cent this year, after it made a “strategic pivot” to become a so-called bitcoin treasury company in 2024.
aaah, so cute. You still think COMPANIES NEED REVENUE these days?! Huh.
The concept of bitcoin treasury companies has been widely criticised, including by veteran short seller Jim Chanos, who recently dismissed the use of terms such as “bitcoin yield” — which measures the change in a company’s bitcoin holdings per share over a given period — as “financial gibberish”.
I like this retor by Simon, though:

“I encourage people to short our stock if they don’t believe in the story,” he said.


The whole bitcoin- treasury company subject is really interesting seems like there’s a new one popping up every day. But Strategy and Metaplanet are probably the two that are ahead of all the other and will probably be among the only survivors.
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Metaplanet plans to leverage growing bitcoin treasury to acquire digital bank, cash-generating firms ?
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that's the idea, I suppose?
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I was being sarcastic, what I was really asking is, what the hell are they gonna do with a bank? This is going in a direction I really don’t like. But hey, who am I?
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I encourage
Actually he wanna say I dare people to short our stock.
Although can't find what's the acquisition here!
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The FT is total garbage cover to back.
Stop reading that shit.
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I am very bullish about this Japanese hotel company!
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