Dear @MSCI_Inc,
Bitcoin treasury companies should not be excluded from market indexes.
Bitcoin is money. Companies should not be penalized for saving money.
Indexes must remain neutral and let the market decide how to allocate capital.
NEW: What are some of the largest names eligible for S&P 500 inclusion today? AppLovin $APP, Strategy $MSTR, and Robinhood $HOOD lead the way but aren't necessarily most likely to be added. The index committee has full discretion to add and remove names as they see fit
Despite Bitcoin’s upward momentum, Metaplanet’s stock has stayed relatively flat these days — a clear divergence.
With 15,555 BTC on the books and strong BTC-per-share growth, this lag won’t hold indefinitely.
$MTPL is building infrastructure around Bitcoin:
• Digital bank acquisitions in Japan
• The Bitcoin Hotel project
• Zero-interest bonds
✔️ 15,555 BTC (~$1.7B)
✔️ ~$6.95B market cap
✔️ Q2 2025 revenue up 42.4% from BTC-linked operations
✔️ Operational cash flow, downside protection, and optionality
Holding Bitcoin without leveraging it delivers little benefit to society.
Metaplanet structured a model that uses BTC as:
→ Bitcoin-backed lending without forced selling
→ Small business financing via BTC collateral !!!!
→ Cross-border remittance rails
→ Proof-of-reserves transparency
→ Banking rails accessible to retail
→ Educational + infrastructure layers to drive long-term use
With BTC-per-share growing and fundamentals in place, that market gap may likely close.
📌 BTC Yield YTD: 416.6% — capital-efficient treasury execution
📌 BTC holdings up 8,655% vs only 263% dilution
📌 mNAV multiple compressed from 7x → 4.1x = market correction, not collapse
📌 Benchmark Buy rating with 61% upside
It may be that the market hasn’t fully priced that in. Yet.
Delivery and implementing of is key.