どうやら2026年に間に合うように完成できそうだ！ メタプラネット グローバル取引時間トラッカー

This is a massive win for MetaPlanet and a major operational surprise. Moving directly from the August 18 ⁠PRE 14A⁠ to ⁠DEF 14A⁠ filed on Friday, September 25 without an intermediate public ⁠PRER 14A⁠ means the transaction cleared SEC staff review completely clean. The shareholder vote is officially locked in for October 16, accelerating the entire closing timeline by probably 2 months ahead of management’s expectations. Truly impressive execution! @gerovich @DylanLeClair Now instead of a Q4 close, I am expecting this deal to close by the end of October with the ticker changes to $SUPA. Next steps: 1. $SUPA common ATM (small scale) starting November 2. $SUPA preferred private distribution through MetaPlanet Securities to Japan investors by end of Q4 3. $SUPA US preferred public listing by end of Q4 Now, it’s time for a re-rate on Monday! #Metaplanet $3350 $MPJPY

🚨THIS IS INSANE Japan's 30-year bond yield just hit 4.223%, its highest level ever in history. Japan is now paying over 4% to borrow for 30 years - a historic reversal from decades of ultra low rates.

Strategy is proposing daily dividends on $STRF, $STRC, $STRK, and $STRD, accruing every calendar day, including weekends and holidays, and paid the next business day, with economics unchanged. The proposed changes aim to support price stability, liquidity, and demand.

Bitcoin's capital gains pay the yield ultimately. That's openly the business model. You have fundamentally failed to grasp it.

Digital Credit ETF just dropped. Starting with two variable rate securities, so far.

As I alluded to earlier today, I've spent the last two days working on an exciting feature that captures an important nuance in Bitcoin treasury management. The idea is simple. Every Bitcoin treasury company runs some amount of amplification (leverage) — primarily preferred stock or convertible debt — against its BTC. More amplification means more BTC per share on the way up. It also means the common equity gets wiped out faster on the way down. Until now, the Monster Model let you set a constant amplification target and watch what happened as the dynamic treasury management engine attempted to steer either company towards its target under the conditions set by your other parameters (BTC projection path, $STRC / $SATA growth path, USD management, etc.). But that didn't prevent the modeled company from drifting towards a balance sheet whose equity is wiped out in a crash. Now you can pick a share price you want $MSTR or $ASST to survive down to, and the model solves for the most amplification the company could carry if Bitcoin fell and mNAV collapsed. I call it the defensive amplification target, and it's now fully integrated into the dynamic treasury engine. If the system can run nominally, it does; but if the balance sheet gets stressed according to the parameters you specify, it sounds the alarm and begins taking decisive action. The feature calls for you to give it three things: (1) a share price to defend; (2) an mNAV to assume in the crash; and (3) how far Bitcoin might fall (as a fraction of its power law trend). The model works backward to the maximum liability load that still clears your defensive price, converts that to an implied amplification target, and pulls the company's target amplification down to that implied target whenever your own constant target would be higher. The new feature is off by default, so if you want to experiment with it, you'll need to toggle its checkbox, which you can find in the "Defensive target" fieldset in the Amplification section of the parameter pane. Two things I learned while building it that I didn't expect. → The first: capping the target isn't enough. The model doesn't hold amplification at the target — it accepts anything inside a tolerance band around the target, and only acts decisively to delever when amplification exceeds that band. So the target can read as being exactly where you set it while actual amplification sits at the band's upper edge, above your limit. The defense mechanism has to bind the upper edge, not the center; otherwise the width of the band is amplification you never authorized. At the sensitivities involved, a tolerance of 0.01 (one percentage point) in amplification ratio is worth about a dollar of share price — so your $80 floor quietly becomes a $79 floor. → The second: which dollars count. The model tracks "effective USD" — an internal metric inspired by the extension of the model (which was originally @Strategy-only) to @Strive. The Monster Model defines effective USD as all USD assets plus a user-specified haircut on any third-party perpetual preferreds the company holds. That's fine for normal reporting. But as we saw this summer, perpetual preferred equities are least saleable exactly when the common equity is under the most stress, which is the scenario you're trying to defend against. So the defensive calculation uses pure USD while everything else keeps the effective figure. Two different questions, two different answers. (If you don't like the idea of valuing PPE above $0 even during normal operation, feel free to change that parameter; it's called "Fraction PPE counted in Effective USD" and can be found in Strive's "USD and PPE Assets" section in the parameter pane.) If I'm being totally honest, this new feature is just absolutely sick. Watching the dynamic treasury management logic simultaneously dial back on preferred issuance while ramping up use of the common equity ATM to delever so that it can defend your chosen share price at your chosen power law level is an almost religious experience. This is reflexivity in motion, and highlights the power of modeling treasury companies (and Bitcoin itself) with a non-linear dynamical system. Also shipped: → A break-even mNAV basis toggle. Break-even mNAV marks where issuing common stops being accretive — but "accretive" has two meanings. Gross BTC per share is the one BTC Yield measures, and it ignores liabilities entirely. Net BTC per share counts only what's left after senior claims. Those give different answers, and the model was silently picking one based on which mNAV variant you were looking at. Now the user gets to choose, and the choice is always explicit. This is what I called a semantic bugfix in my earlier post from this morning. → As for the technical bugfix I alluded to — that turned out to be a false alarm stemming from Opus's misunderstanding of some of the nuances of the model's mNAV calculations. Once it understood, the issue became clearer, and the LLM agreed that there was only ever a semantic ambiguity. → The power law reference curves moved from +/- 40% to +/- 50% of trend, which is a more honest benchmark after the drawdown we just lived through. → And a batch of quieter fixes: terminology standardized across the parameter and series documentation, so "selected liabilities" and "USD assets" mean one thing each instead of three. The new changes are live at monstermodels.live. Please let me know if you encounter any issues, and as always, thank you for your support. 🧡 $MSTR $ASST $STRC $SATA $BTC #Bitcoin

Opening summary data for Metaplanet 3350.

シルバーウィークの連休明け、お帰りなさい。

Don’t miss my new interview with Strategy CEO @PhongLe. We discuss STRC’s recovery, the outlook for MSTR shareholders, how Strategy is navigating volatility, and its ambition to be the JPMorgan of digital capital. Watch our full conversation. TIMESTAMPS: 00:00 Trailer 1:03 AI Needs a Satoshi Nakamoto 8:40 STRC’s Recovery: Buybacks or Higher Dividends? 11:36 What Caused STRC’s Selloff? 14:36 Strategy’s Plan to Restore Stability 20:05 How Strategy’s Cash Reserves Work 22:46 New Financial Products Built on STRC 27:02 Can Bitcoin and Wall Street Coexist? 34:35 MSTR Shareholders and Executive Compensation 40:41 Strategy’s Plans for STRC and Digital Credit 46:21 Why Strategy Wants to Be the JPMorgan of Digital Capital

"We want to deliver MORE Bitcoin per share, MORE growth. We want to be bigger, MORE acquisitions." Smarter Web CEO, Andrew Webley (@asjwebley), speaking at May’s Bitcoin Treasuries Unconference about wanting MORE for the business going forward. LSE: #SWC | OTCQB: $TSWCF | FRA: $3M8

JUST IN: Bitcoin reclaims $87,000

Overseas investors dumping Metaplanet on recent management comp issues made the classic mistake of viewing a Tokyo-listed asset through a standard Western lens. To foreign investors, it might not look like good corporate governance. To domestic Japanese capital, Metaplanet stock is an economic life raft. Japan’s debt-to-GDP is above 260%. The BoJ is boxed in, real yields are deeply negative, and holding cash in yen guarantees steady purchasing power destruction. Here is Metaplanet's structural moat: - Regulatory Monopoly: Zero spot ETFs approved (earliest in 2028), no liquid domestic alternatives. Even MSTR cannot crack this market due to regulatory hurdles, language barriers, and domestic brokerage integration etc. - Execution Moat: An insurmountable 43,000 BTC head start backed by an 8-quarter track record of income generation with imminent US & Japan prefs. The ONLY multi-jurisdiction treasury company in the world. The ONLY treasury company owns a Type I securities subsidiary. - The Capital Arbitrage: Japan is the world's second-largest developed capital market, sitting on trillions of yen in 0% bank deposits starving for yield. While US peers have to offer punitive 12%+ coupons to compete for Wall Street credit, Metaplanet can tap domestic Japanese liquidity at an ultra-low 5%–6% cost of capital. - The Tax Shield: Spot Bitcoin in Japan is taxed as miscellaneous income up to 55%. Holding Metaplanet stocks is taxed at 20% (and 0% inside a tax-free NISA account). There is literally no real competitor in sight that can replicate this setup in Japan. There is no "Japanese SATA vs STRC" scenario. Western capital traded the governance noise and panic-sold at 0.8x mNAV. Domestic capital is buying the only regulated escape hatch from sovereign debasement. Do you really believe a quasi-monopoly in Japan can stay at sub 1x mNAV for long? Thinking about a few generational companies selling at screaming price in 2022 - $APP, $PLTR, $RKLB, you have another one here. #Metaplanet $3350 $MPJPY $DN3

Yikes. A BTCTC below 1x mNAV is often a bargain, but this is not one of those times $DDC.