HiveComb

Hello friends,

Today we see again another big signal from Japan. Simon Gerovich, CEO of Metaplanet, shared on his X account that the company has added 5,419 more Bitcoin to the balance sheet. They paid around $632 million with average cost per coin at $116,724. With this buy, Metaplanet now owns 25,555 BTC in total!! This is a lot of Bitcoin!! This put them officially in the list of top 5 biggest corporate Bitcoin holders in the world.

It is crazy to see how fast this company transformed. Before, Metaplanet was a media and hospitality business in Tokyo. Now it looks more like a pure Bitcoin treasury strategy, same way MicroStrategy did years ago. They are moving very aggressive and not afraid of the high price. For them, it is all about long term vision and conviction.

Year to date, the performance of their Bitcoin holdings is positive. Of course this brings risk also, because when Bitcoin go down, the company valuation follow. Already we see the Metaplanet stock sometimes volatile, moving up and down with BTC price. Some investors feel nervous when they see the average cost per coin so high.

But to me, what is important is the conviction. Metaplanet is not just buying a little, they are building position with size. I think they target to reach 30,000 BTC before end of 2025. If they reach this number, they will be stronger in Bitcoin world than many financial institutions.

For us, this is bullish signal! More companies buying and holding reduce the supply available for others. It makes the case for higher price later, even if in short term market can look heavy.

About today’s dip, I think it is just normal correction. Yes, yes, I know it's scary too but Bitcoin cannot go up in straight line... Price go down to shake weak hands, but fundamentals stay the same. If companies like Metaplanet keep buying, dips are only temporary noise.

Have a great day!

Posted Using INLEO