Steve Singh

[Michael Saylor @saylor]

Bitcoin is the new hurdle rate on Wall Street.

[Simply Bitcoin @SimplyBitcoin]

😂

[Konsensus Network 📚 @KonsensusN]

"Bitcoin is dead"

Bitcoin:

[naiive @naiivememe]

this is real

[Adam Livingston @AdamBLiv]

The case for Metaplanet’s Bitcoin-backed preferreds is simple:

How much more capital is liquid for Japanese citizens than American ones?

Japan has 51.0% of household financial assets in currency and deposits vs U.S. 11.5%.

That means Japan’s household portfolios are ~4.4× more cash-heavy by share.

This is the core reason a high-yield listed income instrument can scale fast in Japan.

In absolute yen terms, Japan’s household currency and deposits are about ¥1,120 trillion as of Q1 2025.

Even tiny reallocations from that pile can dwarf typical corporate issuance sizes.

If just 1% of Japan’s household cash and deposits reallocated to a 6% Metaplanet pref, that is ~¥11.2 trillion of potential demand.

Even 0.1% is ~¥1.1 trillion.

The addressable base is massive given the portfolio composition.

Headline yield: 6.0% on the prefs vs ~1.55–1.60% on the 10-year JGB.

That is about 4× the income for the same ¥ principal.

In a yield-starved market, a +440 bps pickup is enormous.

If a household rotates just ¥10 million, annual income jumps from ~¥155k to ¥600k before tax.

All of this capital flowing into Metaplanet is totally mNAV-agnostic as it relates to the common equity valuation.

More capital to buy more Bitcoin.

More Bitcoin making the yield more collateralized.

And they aren’t encumbered by convertible bond debt.

And they can help fund the dividends with income from their put writing business.

The perfect products for the perfect environment, all built on the perfect asset.

[Dylan LeClair @DylanLeClair]

🚀

[Steve Singh @SteveASingh]

@TigerLineTrades Right, don't trade it. Simply buy and hold $GNS. "I just got sent some information" isn't a compelling reason to avoid the stock, or to make any decision for that matter.

[Simon Gerovich @gerovich]

This is so cool.
Each dot = 1 Bitcoin we own.
Each ring = a Bitcoin acquisition.

A beautiful tribute to the team’s relentless execution over the past 14 months. Thank you @heavyside for bringing this to life.

Link in next post.

[Steve Singh @SteveASingh]

@gerovich Love the art direction of Metaplanet. Thank you for everything, Simon

[Steve Singh @SteveASingh]

@DrewRobertsLive @saylor You need to run Shor’s algorithm to break BTC’s elliptic curve cryptography. So you’ll need error-corrected, fault-tolerant quantum computers with millions of qubits.. compare that to what we have today (noisy qubits in the thousands at best). There is no “near future” threat.

[Jason Williams @AstroRocket]

"In about 15 years, you go take over Wakanda and I'ma save Asgard."

"Bet."

[Charles Hoskinson @IOHK_Charles]

Changing the world takes endurance, pain and hard work. Market corrections shake off weak hands and harden the resolve of the truly dedicated to continue the drudgery. Crypto isn't dead. It's just getting started.