CapnMorgan

[CapnMorgan @AM13978371]

@DylanLeClair I hope winter doesn't last much longer! It's been brutal after those summer highs!!

[CapnMorgan @AM13978371]

@thebtcpharaoh They also need to hold some money back to cover the cost of buying back the private placement prefs since Japanese regulators clearly aren't going to approve listed prefs this year.

[CapnMorgan @AM13978371]

@unusual_whales He's not wrong. Did he have any control over his own investments? Did he direct his fund manager to invest in anything specific?

[CapnMorgan @AM13978371]

@gerovich @saylor It's sad that Metaplanet has zero ability to purchase Bitcoin at these low prices.

[CapnMorgan @AM13978371]

@McDonaldsPrinz @UncleDividends They don't have any money to buy Bitcoin. They refuse to borrow money. Their MSW plan can't run because the share price is below 1mNAV. They don't have prefs up and running.... so, how would they buy Bitcoin?

[CapnMorgan @AM13978371]

@UncleDividends And no shares were bought back, either

[CapnMorgan @AM13978371]

@UncleDividends I wish Metaplanet had a way to buy Bitcoin in this bear market!

[CapnMorgan @AM13978371]

@unusual_whales Stated by people who don't understand the difference between wealth and income...

[CapnMorgan @AM13978371]

@mc_khristina I wish I would have sold. Instead, I'm here holding these bags, praying that I'm not wrong. Not a very good strategy, is it?

[CapnMorgan @AM13978371]

@TheBTCTherapist If by "Bitcoin summer," you mean that Bitcoin stays down until at least October, then you're correct

[CapnMorgan @AM13978371]

@nztester @OneChairPod Yep. I made a major error by investing so much into this company. I've not only lost money, but I've also lost years of my life because this error prevents me from retiring on time. I know it's my own fault for going in so heavy, but it's still awful how it all played out!

[CapnMorgan @AM13978371]

@thebtcpharaoh Maybe Metaplanet can get back up to $3 per share in the next 24 months

[CapnMorgan @AM13978371]

@thepowerfulHRV Wow, you're going to be away from your desk until 2029??

[CapnMorgan @AM13978371]

@DylanLeClair I'm trying to figure out if this is good or bad for Metaplanet. Wasn't part of the original thesis that investors were subject to heavy taxes, so Metaplanet gave them Bitcoin exposure without the taxes?

[CapnMorgan @AM13978371]

@ChezzyTreat @AdamBLiv

[CapnMorgan @AM13978371]

@AdamBLiv No, the bear case is now, "ok, they have the licenses to sell certain financial products, but they STILL have to get regulatory approval to sell the specific prefs that they want to sell, and Japanese regulators don't seem to keen to provide that approval."

[CapnMorgan @AM13978371]

@DylanLeClair I hope this allows you to issue prefs before the end of this year... the earlier, the better!

[CapnMorgan @AM13978371]

@gerovich You say it isn't built to stand still, but you don't say what it's built to do. What's the plan? What's the timeline for the plan? Are you going to revise your 100k EOY Bitcoin goal soon? The MSW plan isn't working, prefs aren't approved, and you refuse to borrow money. Now what?

[CapnMorgan @AM13978371]

@z500_tj @DylanLeClair @Metaplanet That "F off" wasn't meant for Dylan...I like Dylan and think he does a great job answering questions

[CapnMorgan @AM13978371]

@z500_tj @DylanLeClair @Metaplanet Dude, I'm long over 50k shares. I'm asking a legitimate question. F off.