Analysis of Latest MSW Exercise Disclosures🔎

🧵It's a great day for the Japanese hotel company, with Metaplanet announcing an additional 2,205 BTC purchased. But did you catch the partial bond redemption as well? What about the shares exercised by Evo? Let’s take a closer look.

https://twitter.com/gerovich/status/1942087330514255980

Before diving in here, let's take a moment to appreciate the Metaplanet website. It has all the analytics and metrics you could ask for, as well as a complete archive of ALL relevant disclosures to shareholders. Most of the information I share here can be found/verified on the site, and I would encourage shareholders to bookmark it and review every new disclosure that comes out because there are often hidden nuggets.

For example, unless you read today's disclosure about the Moving Strike Warrants exercises, you probably didn't know that Metaplanet paid off 20% of their 30B JPY ($208M) bond early, in addition to making this 2,205 BTC purchase. Here's the link to the disclosure for anyone that wants to follow along: contents.xj-storage.jp/xcontents/3350…

🌏The MTPLFer's Guide to Moving Strike Warrants🚀

The Compliant Degen signal is shining over Gotham City, and I'm here to rescue my fellow investors from the intimidating “moving strikes” of confusion and doubt relating to Metaplanet’s primary capital formation strategy.

In this thread, I break down BTC Treasury Company strategies and Moving Strike Warrant mechanics at 10 levels of complexity, starting from the most basic principles and building up to an analysis of some of the most nuanced features of Metaplanet's new 555 Plan. Let's dive in!🧵 Level 1 – BTC Treasury Company Overview

Before jumping into Metaplanet’s strategies specifically, I really think it’s important to have a foundational understanding of their goals. Many of us have arrived here with a deep knowledge of Bitcoin and the trail that has been blazed for BTC Treasury Companies by @saylor and Strategy, but some are new here and it is impossible to understand the more complex concepts later in this thread without a strong base.

So what are BTC Treasury Companies? Generally, any company that has committed to a strategy pursuing the acquisition of Bitcoin on behalf of shareholders, with the primary goal of increasing BTC Per Share – also referred to as “BTC Yield” – rather than traditional models emphasizing Earnings Per Share).

I personally would not recommend investing in any BTC Treasury Companies unless you meet all of the following prerequisites:

1. Deep conviction in Bitcoin and in its long-term value;
2. Long time horizon and/or tolerance for volatility;
3. Confidence that the leadership team of the company in which you are interested is experienced and aligned with Bitcoin; and
4. Thorough understanding of capital raising method(s) utilized by the BTC Treasury Company to buy Bitcoin.

For anyone that is new to this space, I cannot stress enough how important it is to research these things before investing heavily in Metaplanet. This will be a wild ride and the conviction to hang onto your shares will be built on this foundation.

About a year ago, I made a presentation for my wife – titled, “Diversification is Dead: the Case for Bitcoin-centration” – to get her onboard with going all-in on BTC & crypto.

This thread is the essay I drafted in my Notes app to organize my thoughts before presenting to her.🧵

https://twitter.com/bitcoinrachy/status/1938805402604576947

Diversification is Dead: the Case for Bitcoin-centration

A diversified portfolio of different kinds of investments in various industries has long been touted as the most wise investment strategy. The reasoning for this is that by spreading your money across many assets that are not correlated to one another, you are benefitting from the growth of the economy as a whole while being protected from the risk of one of these investments or industries bringing down the rest of the portfolio.

But what happens when the key ideas behind this – the notions that these assets are uncorrelated and all contributing to the economy – are removed? What if all asset prices are driven by one thing, and only one industry is actually growing the economy while the rest are dragging the “diversified portfolio” down?

In this discussion, I will explain how all asset prices are being driven by global money printing, why there is really just one idea worth investing in right now (Summer 2024), and why the “riskiest asset” just might be the safest investment of all time.