# ![@thebtcpharaoh Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1858769388108759040.png) @thebtcpharaoh THE BITCOIN PHARAOH

THE BITCOIN PHARAOH posts on X about $mtplf, bitcoin, $mpjpy, $mstr the most. They currently have [-----] followers and [---] posts still getting attention that total [---] engagements in the last [--] hours.

### Engagements: [---] [#](/creator/twitter::1858769388108759040/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1858769388108759040/c:line/m:interactions.svg)

- [--] Week [-----] -70%
- [--] Month [------] -71%
- [--] Months [----------] -81%
- [--] Year [----------] -80%

### Mentions: [--] [#](/creator/twitter::1858769388108759040/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1858769388108759040/c:line/m:posts_active.svg)

- [--] Week [--] -21%
- [--] Month [--] -38%
- [--] Months [---] +85%
- [--] Year [---] +341%

### Followers: [-----] [#](/creator/twitter::1858769388108759040/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1858769388108759040/c:line/m:followers.svg)

- [--] Week [-----] -0.19%
- [--] Month [-----] +6.80%
- [--] Months [-----] +100%
- [--] Year [-----] +227%

### CreatorRank: [---------] [#](/creator/twitter::1858769388108759040/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1858769388108759040/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[cryptocurrencies](/list/cryptocurrencies)  100% [stocks](/list/stocks)  66% [finance](/list/finance)  30% [countries](/list/countries)  9% [currencies](/list/currencies)  5% [automotive brands](/list/automotive-brands)  3% [technology brands](/list/technology-brands)  1% [social networks](/list/social-networks)  1%

**Social topic influence**
[$mtplf](/topic/$mtplf) #23, [bitcoin](/topic/bitcoin) 35%, [$mpjpy](/topic/$mpjpy) #3, [$mstr](/topic/$mstr) 13%, [japan](/topic/japan) 8%, [debt](/topic/debt) 6%, [business](/topic/business) 6%, [mstr](/topic/mstr) 5%, [in the](/topic/in-the) 5%, [$strc](/topic/$strc) 5%

**Top accounts mentioned or mentioned by**
[@dylanleclair](/creator/undefined) [@gerovich](/creator/undefined) [@metaplanet](/creator/undefined) [@saylor](/creator/undefined) [@uncledividends](/creator/undefined) [@strategy](/creator/undefined) [@micro2macr0](/creator/undefined) [@philgeiger](/creator/undefined) [@zynxbtc](/creator/undefined) [@bitcoinbyheart](/creator/undefined) [@btcoverflow](/creator/undefined) [@roxom](/creator/undefined) [@cantonmeow](/creator/undefined) [@gerovichs](/creator/undefined) [@takaichisanae](/creator/undefined) [@potus](/creator/undefined) [@onechairpod](/creator/undefined) [@joshmandell6](/creator/undefined) [@thepowerfulhrv](/creator/undefined) [@jasonsoravc](/creator/undefined)

**Top assets mentioned**
[Metaplanet Inc. (MTPLF)](/topic/$mtplf) [Bitcoin (BTC)](/topic/bitcoin) [Strategy (MSTR)](/topic/$mstr) [iShares BTC Trust (IBIT)](/topic/$ibit) [JPMorgan Chase (JPM)](/topic/$jpm) [Sora (SORA)](/topic/$sora) [Strategy Incorporated (STRF)](/topic/$strf) [Stride (STRD)](/topic/$strd) [Strike (STRK)](/topic/$strk)
### Top Social Posts
Top posts by engagements in the last [--] hours

"Initial funds of $80M settle tomorrow. $MPJPY $MTPLF #Metaplanet Metaplanet has closed its first institutional shares + warrants transaction to accelerate our Bitcoin strategy. Total proceeds of up to 21B comprising 12.2B in shares issued at a 5% premium (499) and up to 8.8B from 1-year warrants issued at a 15% premium (547 exercise https://t.co/OprgedN4Fd Metaplanet has closed its first institutional shares + warrants transaction to accelerate our Bitcoin strategy. Total proceeds of up to 21B comprising 12.2B in shares issued at a 5% premium (499) and up to 8.8B from 1-year warrants issued"  
[X Link](https://x.com/thebtcpharaoh/status/2021822218548957348)  2026-02-12T05:42Z [----] followers, [----] engagements


"Escape to #Metaplanet 🚀 $MPJPY $MTPLF [--] hours later 6-sigma collapse https://t.co/pbUB3QpMh3 [--] hours later 6-sigma collapse https://t.co/pbUB3QpMh3"  
[X Link](https://x.com/thebtcpharaoh/status/2013632059504312471)  2026-01-20T15:17Z [----] followers, [----] engagements


"Finally got around to this while traveling. #Metaplanet announced FY [----] forecast as well as guidance for FY [----]. Recap: - as of Dec [--] we knew they would report 8.6B ($55M) in revenue from Bitcoin Income Generation (BIG); this was a +37% beat against the 6.3B guidance issued on Oct [--] (which was also up from earlier guidance of 3B) - today they forecast closing the year at 8.9B ($57M); the difference of 325M attributable to the hotel business - Operating income of 6.3B ($40M) implies a margin of 71% - [----] revenue expected to grow 80% YoY to 16B ($103M) and achieve an operating income of"  
[X Link](https://x.com/thebtcpharaoh/status/2015842654496686184)  2026-01-26T17:41Z [----] followers, [----] engagements


"I'll get straight to the point re #Metaplanet's announcement today and as usual try to provide a few more insights and perspective from my lens. [--]. Stock Offering New shares: 24.5M (1.7% dilution - based on fully diluted share count) Share price: JPY499yen ($3.26) Proceeds: 12.2B ($80M) on Feb [--] [--]. Warrants Stock acquisition rights: [------] Issue price: JPY523 ($3.42) Proceeds: JPY83M ($545K) on Feb [--] Potential new shares: 15.9M (1.1% dilution - based on fully diluted shares) Strike price: JPY547 ($3.58) Potential future proceeds: JPY8.7B ($57M) from Feb [--] for one year For the purpose of my"  
[X Link](https://x.com/thebtcpharaoh/status/2016909466663281132)  2026-01-29T16:21Z [----] followers, 11.9K engagements


"@roxom @UncleDividends The argument here is wrong - the transaction is accretive not dilutive. And the majority of the funds raised (67%) are going towards BTC purchases. The revised numbers show a much lower figure because they pulled out debt to bridge the timing till they receive the funds"  
[X Link](https://x.com/thebtcpharaoh/status/2020101906597831052)  2026-02-07T11:46Z [----] followers, [---] engagements


"DN3 trading equivalent Y637 👀 #Metaplanet $MPJPY $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/2011486121688277458)  2026-01-14T17:10Z [----] followers, [----] engagements


"In case you were losing sleep over it #Metaplanet has all of [----] and [----] to stack BTC with a tax arbitrage in Japan. $MPJPY $MTPLF 20%2028 https://t.co/0USsZexYH8 20%2028 https://t.co/0USsZexYH8"  
[X Link](https://x.com/thebtcpharaoh/status/2012176157710725444)  2026-01-16T14:52Z [----] followers, [----] engagements


"This volatility seems like an opportune moment to draw down another $50-100M from the credit facility and monetize premiums - acquire BTC at a lower cost. Guns ready. #Metaplanet $MPJPY $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/2013630673282551911)  2026-01-20T15:12Z [----] followers, [----] engagements


"The is the sacrificial offering to the fiat gods. This yen weakness is a structural tailwind for #Metaplanet once they start amplifying issuance in denominated securities and the depreciating currency turns into pure rocket fuel for BTC stacking. $MPJPY $MTPLF The BOJ printed JPY to stop the collapse of the JGB market now the JPY is logically depreciating as a result although not as fast as it should be. Why Because the Japanese government threat of direct FX intervention at [---] vs USD successfully keeping money managers and https://t.co/pM49FTOIvh The BOJ printed JPY to stop the collapse of"  
[X Link](https://x.com/thebtcpharaoh/status/2014268605010153849)  2026-01-22T09:27Z [----] followers, [----] engagements


"Good read. Only thing I'm not certain about is US Gov's willingness to support intervention and how far they are willing to go before letting natural forces play out. #Metaplanet $MPJPY $MTPLF Over [--] months ago I explained why the JPY will devalue all the way down to [---] against the USD nothing changed despite we already saw [--] Japan PMs in power since I wrote that. Any FX intervention is simply the equivalent of trying to cure a broken skull with a headache pill Over [--] months ago I explained why the JPY will devalue all the way down to [---] against the USD nothing changed despite we already"  
[X Link](https://x.com/thebtcpharaoh/status/2015632294665760861)  2026-01-26T03:46Z [----] followers, [----] engagements


"Leaders will lead 🚀 #Metaplanet $MPJPY $MTPLF @gerovich @DylanLeClair Dips are transfers from impatient to patient hands. We hold because Bitcoin is sound money in a broken system. Onward. Dips are transfers from impatient to patient hands. We hold because Bitcoin is sound money in a broken system. Onward"  
[X Link](https://x.com/thebtcpharaoh/status/2017834096320475433)  2026-02-01T05:35Z [----] followers, [----] engagements


"Sifting Through the Noise and Finding Signal. #Metaplanet If you're starting to question your belief system and whether Bitcoin will "make it" just know that what you're feeling is perfectly normal. You are not alone. And it takes surviving one or two bear markets to become desensitized to this kind of volatility. BTC is -40% peak to trough so far. Certainly not nothing but if you've been through -80% and -70% before and survived you know that this is nothing. Familiarize yourself with a concept called "time based capitulation". Here's what I'm looking at: Relative strength On Nov [--] 2025: MP"  
[X Link](https://x.com/thebtcpharaoh/status/2018230837305557139)  2026-02-02T07:51Z [----] followers, [----] engagements


"The point I was making demonstrated visually by @cantonmeow #Metaplanet $MPJPY $MTPLF https://x.com/cantonmeow/status/2018538653455368201s=61&t=2c5S3XJffdX7kwujX8bRCw Sifting Through the Noise and Finding Signal. #Metaplanet If you're starting to question your belief system and whether Bitcoin will "make it" just know that what you're feeling is perfectly normal. You are not alone. And it takes surviving one or two bear markets to become https://x.com/cantonmeow/status/2018538653455368201s=61&t=2c5S3XJffdX7kwujX8bRCw Sifting Through the Noise and Finding Signal. #Metaplanet If you're starting"  
[X Link](https://x.com/thebtcpharaoh/status/2018579120163287355)  2026-02-03T06:55Z [----] followers, [----] engagements


"The current bitcoin price weakness is a golden opportunity for an under-levered #Metaplanet to accelerate their acquisition of coins and alleviate @gerovich's worries. LFG. $MPJPY $MTPLF I worry every day that we dont own enough Bitcoin. The window to buy wont stay open forever. Soon there will be two kinds of people: those who own Bitcoin and those who regret not buying it. At Metaplanet were accumulating as much as we can so our shareholders can relax. I worry every day that we dont own enough Bitcoin. The window to buy wont stay open forever. Soon there will be two kinds of people: those"  
[X Link](https://x.com/thebtcpharaoh/status/2019021340825780337)  2026-02-04T12:12Z [----] followers, [----] engagements


"If being in markets for [--] years (and in bitcoin for [--] years) has taught me anything it's that there is always a narrative to explain the price action. whichever way it goes. I remain boolish as fuck. Buy Bitcoin. Buy $MSTR. Buy #Metaplanet $MPJPY $MTPLF. Forget about them for a while. Your future self will thank you. https://twitter.com/i/web/status/2019284683838931226 https://twitter.com/i/web/status/2019284683838931226"  
[X Link](https://x.com/thebtcpharaoh/status/2019284683838931226)  2026-02-05T05:39Z [----] followers, [----] engagements


"So much for that Yen intervention a couple of weeks ago 😂 Gravity does not deplete. $MPJPY $MTPLF The is the sacrificial offering to the fiat gods. This yen weakness is a structural tailwind for #Metaplanet once they start amplifying issuance in denominated securities and the depreciating currency turns into pure rocket fuel for BTC stacking. $MPJPY $MTPLF The is the sacrificial offering to the fiat gods. This yen weakness is a structural tailwind for #Metaplanet once they start amplifying issuance in denominated securities and the depreciating currency turns into pure rocket fuel for BTC"  
[X Link](https://x.com/thebtcpharaoh/status/2019319819351584860)  2026-02-05T07:58Z [----] followers, [----] engagements


"Juicy premiums #Metaplanet $MPJPY $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/2019462518234661275)  2026-02-05T17:25Z [----] followers, [----] engagements


"While we wait out the current volatility and the market to come back to its senses I've learned that nothing beats "knowing what you own" at times like these. So here are a few thoughts on #Metaplanet and how the market is valuing it today. From their analytics page: a. MCAP: $2480M b) Debt: $355M c) EV: $2660M d) BTC NAV: $2270M e) mNAV: [----] f) Cash: So what can we derive from these figures [--]. Cash = a + b - c = $175M This would be the $100M they started the year with in BIG + the recent $75M credit facility draw down. It remains to be seen whether either of these amounts have been assigned"  
[X Link](https://x.com/thebtcpharaoh/status/2019682979162058873)  2026-02-06T08:02Z [----] followers, [----] engagements


""When Japan is strong the U.S. is strong in Asia." Tells you everything you need to know about the direction of US foreign policy with regards to $MPJPY $MTPLF My sincerest congratulations to Prime Minister @takaichi_sanae on her historic victory securing the biggest post-war electoral margin in Japanese history. As @POTUS has said she will not let the people of Japan down. When Japan is strong the U.S. is strong in Asia and the https://t.co/v7KHHflAkH My sincerest congratulations to Prime Minister @takaichi_sanae on her historic victory securing the biggest post-war electoral margin in"  
[X Link](https://x.com/thebtcpharaoh/status/2020731434936484035)  2026-02-09T05:28Z [----] followers, [----] engagements


"#Metaplanet's placement closed today with $80M in the account at a share price of JPY499. For the chronic-critics out there that's a 51% premium to the current share price and an implied mNAV of 1.7x. That is before factoring in the warrants as well which are at a higher price if/when they convert. Looking forward to seeing an announcement soon re BTC acquisition and any latest developments with the Feb [--] results. https://contents.xj-storage.jp/xcontents/33500/c6b4fa40/51ab/4ac3/a145/27a959646c1d/140120260213561896.pdf"  
[X Link](https://x.com/thebtcpharaoh/status/2022260368819839178)  2026-02-13T10:43Z [----] followers, [----] engagements


"@OneChairPod @JoshMandell6 Same logic re cap applies in the example I gave but they would get 10x more free BTC exposure for it front-loaded"  
[X Link](https://x.com/thebtcpharaoh/status/1993018484562051555)  2025-11-24T18:06Z [---] followers, [--] engagements


"The business model is such that they should aggressively use equity in up markets when mNAV expands which allows them to de-leverage and effectively be buying BTC at an implied discount. And re-leverage on the way down where they can take advantage of lower prices. Watch Metaplanet $MTPLF and what they are doing now. Playing this to the tee and IMO better timed than $MSTR (maybe pure luck or circumstantial but it is what it is)"  
[X Link](https://x.com/thebtcpharaoh/status/1993161288164487546)  2025-11-25T03:34Z [---] followers, [----] engagements


"$MTPLF announcement out drawing down another $130M from the credit facility as of Nov [--]. Total drawdown $230/500M now. I don't see these funds being utilized for buybacks at current mNAVs ny sense is that it will go to BIG taking it to $355M before any potential assignment. If some of the CSPs expire ITM we will get some BTC purchase announcements soon. I expect to see some of these announcements between now and EOY. Taking a slightly more aggressive scenario if we assume the current $355M are assigned at an avg price of $90K that would add 4K BTC. And if they draw down the remaining"  
[X Link](https://x.com/thebtcpharaoh/status/1993226428079653016)  2025-11-25T07:53Z [---] followers, [----] engagements


"It's all in the Bitcoin Income Generation (BIG) business - CSPs. The $230M from the credit facility plus $125M from the IO. Total = $355M Some of this may have been assigned already assuming they sold CSPs ATM at higher prices. This is separate from the funds coming from Mercury which will be another $135M of which they have earmarked $10-11M to BIG and $95-$120M for BTC Purchase"  
[X Link](https://x.com/thebtcpharaoh/status/1993319533378146653)  2025-11-25T14:03Z [---] followers, [---] engagements


"#Metaplanet is arguably in a better position to create shareholder value that $MSTR They are big enough to have a menu of levers and instruments they can utilize yet small enough that it doesn't take a huge amount of capital to move the needle. So what you need to think about is: [--]. How much capital can they raise [--]. What instruments and at what cost will they raise the capital Their total acquisition cost for the [-----] BTC held is $3.33B; so they've so far raised that the majority of which was done in [----]. In addition they are sitting on: - $230M out of a $500M credit facility - $125M cash"  
[X Link](https://x.com/thebtcpharaoh/status/1993326584464654567)  2025-11-25T14:31Z [---] followers, [----] engagements


"1-month ATM puts on $IBIT are yielding around 5-5.5% (60% annualized). At these rates #Metaplanet BIG Q4 revenue is on track to hit $30M; +100% QoQ growth. Watch this space. It will be the highlight of the Q4 results. Profits could be recycled back into the business. Annualized thats $120M. Can comfortably support $2B prefs paying 6% with no dilution and before factoring in further growth. What would this business be worth if it traded at 15x earnings $1.8B The nice thing about it is that its infinitely scaleable. It grows in proportion to their capital raising. And they win both ways if BTC"  
[X Link](https://x.com/thebtcpharaoh/status/1993361537952891384)  2025-11-25T16:50Z [---] followers, [----] engagements


"$JPM vs $MSTR is child's play. The real battle to watch in [----] is $MSTR vs $MTPLF. @gerovich Keep climbing to #2. Then we fight. @gerovich Keep climbing to #2. Then we fight"  
[X Link](https://x.com/thebtcpharaoh/status/1993524170991583322)  2025-11-26T03:36Z [---] followers, [----] engagements


"@thepowerfulHRV You need to consider fully diluted mNAV; they show it on their website 1.15x"  
[X Link](https://x.com/thebtcpharaoh/status/1993726514383434060)  2025-11-26T17:00Z [---] followers, [---] engagements


"@JasonSoraVC @Bitplanet_KR @paulslee84 Thanks Jason. Is $SORA the only way to get exposure to Bitplanet for non-Korean investors How many shares does SORA own And where can we find info on how Bitplanet is raising capital to fund these acquisitions Thanks"  
[X Link](https://x.com/thebtcpharaoh/status/1993911756989837500)  2025-11-27T05:16Z [---] followers, [---] engagements


"This is an educational post. $MTPLF #Metaplanet dashboard shows an unrealized loss of $331M on their BTC. The reported loss is an oversimplified version of the truth. They did not actually lose money on the trade. And this is a critical misunderstanding I see in a lot of posts. Since almost all the BTC purchases were funded via equity sold at a premium to NAV their effective cost was much lower than the spot price recorded at the time of purchase. In other words if I trade you my iPhone for one BTC and BTC trades down 5% did I lose or make money on the trade I may have given up part of my"  
[X Link](https://x.com/thebtcpharaoh/status/1993917044761170413)  2025-11-27T05:37Z [---] followers, [----] engagements


"Excellent space yesterday hosted by @DylanLeClair with lots of insights. Worth a listen to anyone interested or wanting to learn more about #Metaplanet. The move from $3B to $30B mcap will be swift. $MTPLF https://t.co/EnN4haGTsa https://t.co/EnN4haGTsa"  
[X Link](https://x.com/thebtcpharaoh/status/1994668155374112914)  2025-11-29T07:22Z [---] followers, 27.3K engagements


"Quoting myself because thats just how it is. $MTPLF A few important points @DylanLeClair hinted at that stood out to me: [--]. 5% yield seems to be the number theyre comfortable with for prefs and the spread over JGBs should tighten as they prove the model and investors get more comfortable with it. [--]. They care far more about coverage of dividends from ancillary income than about LTV. The 25% LTV is more of a soft cap. [--]. That implies roughly $20M in BTC for every $1M of recurring income they can generate. Hence the heavy focus on BIG and Project Nova leveraging brand + distribution in Japan to"  
[X Link](https://x.com/thebtcpharaoh/status/1994793081208528914)  2025-11-29T15:38Z [---] followers, 13.9K engagements


"I don't buy it. While I think $MSTR could issue prefs to buy back shares I don't believe they will ever willingly sell BTC to buy shares regardless of mNAV. I've been watching @saylor closely and listening to every word he has to say for years. Sorry but don't see it - even if they say the opposite. He COULD however sell for tax optimization then buy them back soon after; this has been done in the past. Otherwise he would rather wait it out than decapitalize the company. The $60 Billion Bitcoin Bet @Strategy CEO Phong Le https://t.co/w0WBg42PaD The $60 Billion Bitcoin Bet @Strategy CEO Phong"  
[X Link](https://x.com/thebtcpharaoh/status/1995345940753142142)  2025-12-01T04:15Z [---] followers, [----] engagements


"Reminder: it's not supposed to feel good. #Bitcoin $MSTR $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/1995456679303909829)  2025-12-01T11:35Z [---] followers, [---] engagements


"@WOLF_Bitcoin_ Purchases of sustainable and recycled BTC only"  
[X Link](https://x.com/thebtcpharaoh/status/1995459121764610265)  2025-12-01T11:45Z [---] followers, [--] engagements


"Nice. It'll be interesting to see if $MSTR follow in #Metaplanet footsteps and sell options against the cash reserve to generate income. $MTPLF $MSTR announces the formation of a $1.44 billion USD Reserve and an increase in its BTC Reserve to [------] $BTC. https://t.co/e1tAhDUo9G $MSTR announces the formation of a $1.44 billion USD Reserve and an increase in its BTC Reserve to [------] $BTC. https://t.co/e1tAhDUo9G"  
[X Link](https://x.com/thebtcpharaoh/status/1995484683845427564)  2025-12-01T13:26Z [---] followers, [----] engagements


"@Micro2Macr0 Both acts are despicable; one by terrorist Jews and the other by terrorist Muslims. Both countries (Israel and Sudan) run by extremist genocidal wackos. Neither one represents their true faith nor their religions"  
[X Link](https://x.com/thebtcpharaoh/status/1996563437259030953)  2025-12-04T12:53Z [---] followers, [---] engagements


"The math is fairly simple. Gold mcap is $30T BTC is $1.85T For BTC to reach a $20T mcap (2/3 gold) thats a 11x in price. Thats nowhere near where it will ultimately be and the true potential. But can also happen relatively fast in a catchup scenario. In a year where BTC has been flat #Metaplanet 16xd their BTC with only one tool (equity). How much can they increase their stack in a period where the BTC price multiplies 11x and they have far more tools at their disposal If we assume they ultimately reach a BTC stack of 500K (another 16x) over that period and manage to accrete 50-70% of that to"  
[X Link](https://x.com/thebtcpharaoh/status/1996580777342148679)  2025-12-04T14:02Z [---] followers, [----] engagements


"Another $50M drawdown as of Dec [--] (the day we touched $84K BTC) from the $500M facility; total $280M now Watch the Bitcoin income business in Q4 👀 $400M in action including the IO proceeds Bravo @gerovich @DylanLeClair 👏 https://contents.xj-storage.jp/xcontents/33500/6ac9e946/cd10/4c2a/9c62/eaba439ef7af/140120251205515544.pdf https://contents.xj-storage.jp/xcontents/33500/6ac9e946/cd10/4c2a/9c62/eaba439ef7af/140120251205515544.pdf"  
[X Link](https://x.com/thebtcpharaoh/status/1996857417808896341)  2025-12-05T08:21Z [---] followers, [----] engagements


"The play here is that at roughly half the funding cost Metaplanet can afford double the amplification for the same price. So Strategy's 25% costs the same as Metaplanet at 50%. and if Strategy think they can go up to 40% post CBs then that's around 80% for Metaplanet all things equal. In fact Metaplanet may even be able to go beyond that should their income business and project nova cover the obligations over time"  
[X Link](https://x.com/thebtcpharaoh/status/1997916901452747131)  2025-12-08T06:31Z [---] followers, [---] engagements


"A few thoughts and takeaways from things I watched today: 1/ Strategy wont be offering a pref till [----] at the earliest. gives #Metaplanet a minimum one year head start 2/ Reduction of cap gains taxes on crypto in Japan from 55% to 20% not likely to come into effect before [----] or [----] 3/ MERCURY to list early [----] with an MSW along with MARS shortly after 4/ MARS can be wrapped into commercial banking products with a weighting vs cash to further reduce volatility to zero and offer bank clients an enhanced yield 5/ Todays 10K BTC purchase by $MSTR was neutral / not accretive. so it can only"  
[X Link](https://x.com/thebtcpharaoh/status/1998120195282403717)  2025-12-08T19:59Z [---] followers, 16.5K engagements


"Sheikhs like the Japanese hotel business. $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/1998251666089578946)  2025-12-09T04:41Z [---] followers, [----] engagements


"@UncleDividends Great summary 🙏"  
[X Link](https://x.com/thebtcpharaoh/status/1998310637706104964)  2025-12-09T08:35Z [---] followers, [---] engagements


"mNAV continues its climb up. and just like that the flywheel will reignite in due time $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/1998600796175479006)  2025-12-10T03:48Z [---] followers, [----] engagements


"@ReesePolitics They should by $STRC"  
[X Link](https://x.com/thebtcpharaoh/status/1998612997846311394)  2025-12-10T04:37Z [---] followers, [---] engagements


"@gerovich you have my proxy. $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/1999143752992964868)  2025-12-11T15:46Z [---] followers, [----] engagements


"Hi Adam 👋🏼 I have to point out that this analysis is mathematically wrong. Thats because the new Bitcoin the company acquires does not accrue to existing shareholders. It only increases total BTC not BTC per share. And shareholders only benefit through the latter. To illustrate through numbers: - Company has [---] BTC and [---] shares [---] BTC/share - It issues [--] new shares at a discount (mNAV 0.95) and buys [---] BTC - New totals: [-----] BTC and [---] shares [-----] BTC/share Existing shareholders now own less BTC per share and that reduction is permanent even if the new BTC acquired compounds faster"  
[X Link](https://x.com/thebtcpharaoh/status/1999189702486949946)  2025-12-11T18:49Z [---] followers, [---] engagements


"Yes but my point is that the compounding of the newly acquired bitcoin via the initial dilution is not what creates value to existing shareholders. So its not about the compounding being more than the dilution. All that matters is increasing BTC/share. So it only works if it enables them to do something else to grow the BTC/share"  
[X Link](https://x.com/thebtcpharaoh/status/1999191535196471464)  2025-12-11T18:56Z [---] followers, [--] engagements


"Hmm where have I heard the Central Bank analogy before. $MSTR $MTPLF https://www.forbes.com/sites/digital-assets/2025/12/11/saylors-plan-to-build-a-bitcoin-powered-shadow-central-bank/ https://t.co/7w56UuqBWK https://www.forbes.com/sites/digital-assets/2025/12/11/saylors-plan-to-build-a-bitcoin-powered-shadow-central-bank/ https://t.co/7w56UuqBWK"  
[X Link](https://x.com/thebtcpharaoh/status/1999200260145709392)  2025-12-11T19:31Z [---] followers, [---] engagements


"@ryQuant mNAV equilibrium is the point at which swapping equity for bitcoin is neutral to btc/share"  
[X Link](https://x.com/thebtcpharaoh/status/2000086706570318126)  2025-12-14T06:13Z [---] followers, [--] engagements


"What's strategy is doing is a benefit to the whole BTCTC space. $MTPLF Strategy has acquired [-----] BTC for $980.3 million at $92098 per bitcoin and has achieved BTC Yield of 24.9% YTD [----]. As of 12/14/2025 we hodl [------] $BTC acquired for $50.33 billion at $74972 per bitcoin. $MSTR $STRC $STRK $STRF $STRD $STRE https://t.co/VdAz7pqce1 Strategy has acquired [-----] BTC for $980.3 million at $92098 per bitcoin and has achieved BTC Yield of 24.9% YTD [----]. As of 12/14/2025 we hodl [------] $BTC acquired for $50.33 billion at $74972 per bitcoin. $MSTR $STRC $STRK $STRF $STRD $STRE"  
[X Link](https://x.com/thebtcpharaoh/status/2000570547978281312)  2025-12-15T14:16Z [---] followers, [----] engagements


"I smell another $50-100M credit line drawdown. $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/2000798382982570291)  2025-12-16T05:21Z [---] followers, [----] engagements


"It will happen v fast. It may have taken [--] months for #Metaplanet to accumulate their first 30K BTC. but the next 30K will happen in 1/2 the time. $MTPLF Michael Saylor told Simon Gerovich "Climb to #2 on the Bitcoin leaderboard then we fight." ⚔ https://t.co/SyZSNKqBlp Michael Saylor told Simon Gerovich "Climb to #2 on the Bitcoin leaderboard then we fight." ⚔ https://t.co/SyZSNKqBlp"  
[X Link](https://x.com/thebtcpharaoh/status/2000898431687254103)  2025-12-16T11:58Z [---] followers, [----] engagements


"@DylanLeClair @Metaplanet @thebtcpharaoh backs Metaplanet Inc on [--] of [--] Proposals Dec [--] https://x.com/thebtcpharaoh/status/1999143752992964868s=61&t=2c5S3XJffdX7kwujX8bRCw @gerovich you have my proxy. $MTPLF https://t.co/kexfnkdS5M https://x.com/thebtcpharaoh/status/1999143752992964868s=61&t=2c5S3XJffdX7kwujX8bRCw @gerovich you have my proxy. $MTPLF https://t.co/kexfnkdS5M"  
[X Link](https://x.com/thebtcpharaoh/status/2001248435119481169)  2025-12-17T11:09Z [---] followers, [---] engagements


"Should have mentioned that uplisting is typically a 2-6 week process; the filing date here is Dec [--] so we're looking at an eta in Jan. Metaplanets advantage will be that it can: - raise capital in the lowest-yield country on earth - price itself in the deepest risk market on earth - store value in the hardest asset on earth That flywheel doesnt exist for any other BTC treasury company. AND they can finally add options markets which opens up many new possibilities for both investors and potential structured products that can be sold in Japan. $MTPLF #Metaplanet 😱 SECForm F-6ADR🚀"  
[X Link](https://x.com/thebtcpharaoh/status/2001347510141661213)  2025-12-17T17:43Z [---] followers, [----] engagements


"@son_of_satoshii The self is an illusion. In Bitcoin there is no king no issuer no final authority. Rules rulers. Trust dissolves when systems dont require identity or power"  
[X Link](https://x.com/thebtcpharaoh/status/2002805379550581187)  2025-12-21T18:16Z [---] followers, [--] engagements


"Congrats to @gerovich @DylanLeClair @Yoshimi3350Abe @Shinpei3350 @Sophia_Jp_3350 @juriwatanabe_ @phil_geiger and the whole @Metaplanet team for passing todays historic resolutions. that will transform both the company and the Japanese capital markets. You should all be very proud of how far youve come and the dedicated shareholders base youve cultivated ready to ride this rollercoaster all the way to outer space 🚀 $MPJPY $MTPLF https://twitter.com/i/web/status/2002943180954853864 https://twitter.com/i/web/status/2002943180954853864"  
[X Link](https://x.com/thebtcpharaoh/status/2002943180954853864)  2025-12-22T03:24Z [---] followers, [----] engagements


"@DylanLeClair @Metaplanet I can hear the sound of the flywheel warming up. 🔥 🔥 🔥"  
[X Link](https://x.com/thebtcpharaoh/status/2003014179847045274)  2025-12-22T08:06Z [---] followers, [----] engagements


"Expansion underway. @DylanLeClair @Metaplanet I can hear the sound of the flywheel warming up. 🔥 🔥 🔥 https://t.co/kKfIJvJWMR @DylanLeClair @Metaplanet I can hear the sound of the flywheel warming up. 🔥 🔥 🔥 https://t.co/kKfIJvJWMR"  
[X Link](https://x.com/thebtcpharaoh/status/2003297881562972181)  2025-12-23T02:53Z [---] followers, [----] engagements


"Next week we get our BTC purchase announcement from #Metaplanet with the Mercury proceeds Expect a minimum 1050-1400 BTC added depending on whether they managed to roll the EVO debt or not. We may see a bigger purchase announcement if the income operation was assigned BTC that they decide to move to the treasury for a long term hodl. $MPJPY $MTPLF https://twitter.com/i/web/status/2003477289263411680 https://twitter.com/i/web/status/2003477289263411680"  
[X Link](https://x.com/thebtcpharaoh/status/2003477289263411680)  2025-12-23T14:46Z [---] followers, [----] engagements


"@Micro2Macr0 @Metaplanet @saylor They are already sitting on $400M in cash habibi. And a facility to draw down another $220M with very low debt levels. All is good. They need to ramp up amplifications now"  
[X Link](https://x.com/thebtcpharaoh/status/2003497462984769666)  2025-12-23T16:06Z [---] followers, [---] engagements


"$MTPLF / $MSTR daily chart. Self explanatory"  
[X Link](https://x.com/thebtcpharaoh/status/2003699168246898770)  2025-12-24T05:28Z [---] followers, [----] engagements


"@swissBTCmaxi The noise is usually a good sentiment indicator. Do the opposite of what they are saying :)"  
[X Link](https://x.com/thebtcpharaoh/status/2003784529870545211)  2025-12-24T11:07Z [---] followers, [--] engagements


"Contrary to what many people may feel I actually think #Metaplanet should launch a BTC ETF when legislation allows and become the leading Bitcoin ETF sponsor in Japan. Blackrock's $IBIT has been the most successful ETF launch in their history pulling in tens of billions of dollars and growing fast. Even at a nominal fee it has the potential to become a solid recurring revenue source for Metaplanet who are already positioning themselves as a Bitcoin one-stop-shop. The idea here is to embrace the introduction of the ETFs and capture flows that would go to ETFs anyway in a non-dilutive way where"  
[X Link](https://x.com/thebtcpharaoh/status/2004518492670988430)  2025-12-26T11:43Z [---] followers, [----] engagements


"I've been thinking about this lately - along with the major investments by Taiwanese chipmakers in the US and US Gov's stake in $INTC. It all feels like coordinated moves to prepare for a low conflict Chinese takeover of Taiwan down the line. They may make a few moves here and there to save face but it seems this is on the cards in the not too distant future. And of course as it relates to #Metaplanet: a) higher defense spending in Japan = larger deficits. ultimately leading to more inflation. b) with the Fed cutting rates (potentially aggressively) to 1% if Trump gets what he wants this will"  
[X Link](https://x.com/thebtcpharaoh/status/2004813341760639260)  2025-12-27T07:15Z [---] followers, [----] engagements


"What can we expect from #Metaplanet next week On Jan [--] I expect: [--]. BTC purchase announcement - $95M from Mercury proceeds; at $88K/BTC that's +1080 BTC (+3.5% yield) - IF they managed to roll over the EVO debt then another $20M; +230 BTC (+0.7% yield) - I can say with a pretty high degree of confidence that they have been assigned some BTC on their CSPs. Whether they decide to transfer that to the treasury is not clear. If I had to guess I would assume that at a minimum the collateral from the IO which amounted to $135M was assigned since the puts were sold at much higher levels. BTC was"  
[X Link](https://x.com/thebtcpharaoh/status/2004970409150836778)  2025-12-27T17:39Z [---] followers, 33.8K engagements


"Time-based capitulation. is a concept I learned from @AlemzadehC if you're tired of waiting for the price to move suggest you study what it means"  
[X Link](https://x.com/thebtcpharaoh/status/2005023074417254695)  2025-12-27T21:08Z [---] followers, [---] engagements


"Worth a listen. I think the part that is maybe lost on the market at this point is that #Metaplanet (like $MSTR) is not in a similar position to the multitude of Bitcoin treasury companies that launched earlier this year. It's yet to be seen whether the market really has a place for so many. And the ones that lose their ability to continue acquiring BTC accretively will trade like closed end funds. Where MP stands today and the opportunity ahead of them couldn't be more different. [--]. They have achieved the necessary scale (31K BTC) to issue perpetual prefs that will allow them to continue"  
[X Link](https://x.com/thebtcpharaoh/status/2005172235812962538)  2025-12-28T07:01Z [---] followers, [----] engagements


"#Metaplanet released several disclosures today. Here are the key items: a) Completed the Mercury private placement: $135M raised ($150M notional) b) Purchased [----] BTC at an average price of $105k Q4 BTC yield: 11.9% Total BTC holdings: [-----] BTC c) Q4 Bitcoin Income Generation (BIG) revenue up 74% QoQ to $27M FY2025 BIG revenue: $55M OK so that's what we already know. now what does it all mean [--]. Bitcoin Income Generation (BIG) According to the Q3 financials Oct [--] began with: $134M in BTC collateral (1175 BTC) $18M in cash & deposits Source: Capital movements during Q4: Oct 6: +$5M (20th"  
[X Link](https://x.com/thebtcpharaoh/status/2005987017449198039)  2025-12-30T12:59Z [---] followers, 77.7K engagements


"Im seeing a lot of accounts questioning the avg purchase price during Q4 of $105K given where BTC is trading now ($88K). so I wanted to address it in a separate post. I think the first thing we need to agree on is that #Metaplanets communicated strategy is to DCA and purchase BTC whenever they have funds available to. They are not traders or trying to time peaks and troughs. If you know how to time the market then you certainly should - good luck 😎 Now that thats settled here's how it works (assuming all puts sold ATM): [--]. Mid-Sep $135M / BTC $116K / [----] BTC assigned. this amount was"  
[X Link](https://x.com/thebtcpharaoh/status/2006033131653243254)  2025-12-30T16:02Z [---] followers, [----] engagements


"That's correct. The unrealized loss is capture in the screenshot below from the analytics dashboard (and in the quarterly P&L of course. The key here is: [--]. By selling puts they reduced their avg purchase price by $5 (in your example). or were able to purchase 5% more BTC [--]. To your earlier point they need to show income that can support divs for the regulator to approve pref listings [--]. In an environment where BTC is not declining the income earned from premiums can cover the divs and thus reduce any potential dilution to zero"  
[X Link](https://x.com/thebtcpharaoh/status/2006067556919238696)  2025-12-30T18:19Z [---] followers, [--] engagements


"Would you rather #Metaplanet pay a 4% dividend on MARS and raise $200M or pay 8% and raise $2B $MPJPY $MTPLF Max cost efficiency Max BTC exposure Max cost efficiency Max BTC exposure"  
[X Link](https://x.com/thebtcpharaoh/status/2006758638740975916)  2026-01-01T16:05Z [---] followers, [----] engagements


"Which trade-off for $MSTR would you prefer $STRC 10% - BTC $110K $STRC 11% - BTC $88K $STRC 10% - BTC $110K $STRC 11% - BTC $88K"  
[X Link](https://x.com/thebtcpharaoh/status/2006930997804433579)  2026-01-02T03:30Z [---] followers, [----] engagements


"The community has spoken - [---] votes in which is a reasonable sample size. 66% voted to maximize BTC exposure at the expense of a more aggressive MARS yield offered vs. 34% (still a significant cohort) who prefer to optimize for cost even if it means significantly slower accumulation. So what does the math say Well before taking a view on this you first need to have a view on Bitcoin. The prevailing sentiment I see on X is that BTC will compound at 2030% per year for the next [--] years. So let's take the midpoint of 25% as our base case. Option A (DCA): $200M @ 4% (for the purpose of this"  
[X Link](https://x.com/thebtcpharaoh/status/2007163635773448638)  2026-01-02T18:54Z [---] followers, [----] engagements


"This is a very important distinction highlighted by @ZynxBTC. The value from the leverage accrues to common shareholders as the hard asset grows in value relative to the fiat liability. Since the JPY has consistently lost value against the USD (and is expected to continue doing so) having JPY-denominated liabilities means the value will accrue faster than if those liabilities were in USD. Add to that the lower rate environment and you have two structurally beneficial factors at play that will turbo charge the value transfer from fiat to the common equity shareholders. $MPJPY $MTPLF This means"  
[X Link](https://x.com/thebtcpharaoh/status/2007325668384911528)  2026-01-03T05:38Z [---] followers, [----] engagements


"@ZynxBTC shall we quantify this Current BTC price: $94K Current BTC: 35.1K Current mNAV: 1.2x Target BTC: 100K (pending: 64.9K) Ending BTC price: $200K Capital required assuming avg purchase price $130K: $8.4B Accretion rate: 70% (effective mNAV 3x achieved via equity and prefs mix) - BTC yield: 130% Target share price (1.2x mNAV): 2494Y / $15.96 (+387%) Target share price (2.0x mNAV): 4156Y / $26.59 (+712%) https://twitter.com/i/web/status/2008436352061468778 https://twitter.com/i/web/status/2008436352061468778"  
[X Link](https://x.com/thebtcpharaoh/status/2008436352061468778)  2026-01-06T07:11Z [---] followers, [---] engagements


"@NitherDither @Strategy This is not correct - you need to divide EV (not mcap) by BTC NAV otherwise you are not taking into account the impact of debt and cash"  
[X Link](https://x.com/thebtcpharaoh/status/2008441505388916940)  2026-01-06T07:32Z [---] followers, [---] engagements


"The real kicker is - in an environment where BTC goes to $200K can they raise double the target capital and achieve their 210K BTC target in [----] instead of [----] Recall their initial [----] target was 10K and they ended up with 3.5x that; for a total 20x growth in BTC holdings using only equity. So with a supportive backdrop and multiple tools at their disposal can they do a 6x in total holdings https://twitter.com/i/web/status/2008450078185566719 https://twitter.com/i/web/status/2008450078185566719"  
[X Link](https://x.com/thebtcpharaoh/status/2008450078185566719)  2026-01-06T08:06Z [---] followers, [---] engagements


"@lurkermjp @UncleDividends Feels like everyone already has. I have friends I orange pilled who rode up to $125K and back down again questioning whether they should keep holding or sell to buy back in the 70s 🤷🏽♂"  
[X Link](https://x.com/thebtcpharaoh/status/2009498272436769057)  2026-01-09T05:31Z [---] followers, [--] engagements


"@BitcoinbyHeart True. Would be nice to get the Metaplanet prefs listed before a big move so we can ramp up the amplification levels and maximize acquisition"  
[X Link](https://x.com/thebtcpharaoh/status/2009498568311378333)  2026-01-09T05:32Z [---] followers, [--] engagements


"I have to be honest - it was painful watching the discussion about whether the equity ATM impacted $MSTR's price. No disrespect to any of the guys on True North but it was pure idiocy. We all have our moments I suppose. To put the question to rest: What the ATM did was it permanently raised the NAV 'floor'. Without it mNAV could go to 10x and round trip back down with zero benefit to shareholders. So by exercising the ATM at accretive levels the trip back down is a bit shorter than the way up. And regardless of what the stock price does in the interim shareholders have locked that value into"  
[X Link](https://x.com/thebtcpharaoh/status/2009520556450906361)  2026-01-09T07:00Z [---] followers, 22K engagements


"@btc_overflow Only Mercury was done by PP. Nothing on MARS yet and I believe they indicated they would go for a direct listing and start small grow from there"  
[X Link](https://x.com/thebtcpharaoh/status/2009694160740331914)  2026-01-09T18:30Z [---] followers, [---] engagements


"@AdamBLiv Presumably there should be a correlation between $STRC volume and BTC price in the future"  
[X Link](https://x.com/thebtcpharaoh/status/2011734243878322243)  2026-01-15T09:36Z [---] followers, [---] engagements


"Japans fiscal structure necessitates continued yield suppression to maintain financial stability with currency debasement serving as the primary adjustment mechanism for the foreseeable future. #Metaplanet is structured to arbitrage this environment by raising capital in a structurally weakening currency and reallocating it into a non-sovereign reserve asset. The strategy does not depend on the occurrence of a crisis but rather on the persistence of financial repression utilizing Bitcoin both as a store of value and as collateral for income-generating strategies. Within this framework"  
[X Link](https://x.com/thebtcpharaoh/status/2012572015623074171)  2026-01-17T17:05Z [---] followers, [----] engagements


"@hillery_dan @dotkrueger @saylor As a #Metaplanet holder bigger the better"  
[X Link](https://x.com/thebtcpharaoh/status/2012939097837592888)  2026-01-18T17:24Z [---] followers, [--] engagements


"I generally find @Jason annoying. but I agree with him on this. I don't trust Sam Altman either - he's a creepy motherfucker. And they're not keeping up anyway. I canceled my ChatGPT subscription and now use @grok and @claudeai exclusively. cancelled our corporate @OpenAI account today; We were spending $10k a year @xai is better for real time data @Gemini is better for travel local YouTube & @claudeai is much better for corporate (Cowork and Project features specifically) ChatGPT isnt keeping up imo cancelled our corporate @OpenAI account today; We were spending $10k a year @xai is better"  
[X Link](https://x.com/thebtcpharaoh/status/2013200763946704968)  2026-01-19T10:44Z [---] followers, [---] engagements


"@udiWertheimer @PunterJeff @saylor Only matters in a liquidation scenario"  
[X Link](https://x.com/thebtcpharaoh/status/2015346761339191715)  2026-01-25T08:51Z [---] followers, [---] engagements


"Party time 😎 $MPJPY $MTPLF #Metaplanet"  
[X Link](https://x.com/thebtcpharaoh/status/2007995515678708220)  2026-01-05T02:00Z [---] followers, [----] engagements


"The party continues. feels like we want to cross that [---] yen level and restart the engine 🚀 $MPJPY $MTPLF #Meaplanet Party time 😎 $MPJPY $MTPLF #Metaplanet https://t.co/8euqk6AT92 Party time 😎 $MPJPY $MTPLF #Metaplanet https://t.co/8euqk6AT92"  
[X Link](https://x.com/thebtcpharaoh/status/2008778966677742054)  2026-01-07T05:53Z [----] followers, [----] engagements


"@btc_overflow makes a good point here that is probably on a lot of minds right now. and since no one asked Id like to weigh in on this critical topic. The argument: the yield surge in Japanese bonds challenges the #Metaplanet thesis by compressing the JP-US rate differential. What happened (v brief): Japans JGB market experienced a 6-sigma collapse with 40Y yields breaching 4% for the first time since [----] 30Y at 3.9% and 10Y at 2.4%. The apparent catalyst was PM Takaichis fiscal proposals 5T annual tax cuts and a snap election adding to the deficit concerns on how this will be funded."  
[X Link](https://x.com/thebtcpharaoh/status/2013856564336304290)  2026-01-21T06:09Z [----] followers, [---] engagements


"I have to say I like @AlexandreLaizet To say he is sharp and laser focused would be an understatement. I don't have a view on $ALCPB yet though"  
[X Link](https://x.com/thebtcpharaoh/status/1999010226209800220)  2025-12-11T06:55Z [----] followers, [---] engagements


"This makes a lot of sense and is the natural next step. @gerovich @DylanLeClair . maybe something for MUFG SMFG or Mizuho 👀 Good luck on Monday 🚀 PLEASE READ // RE: Digital Asset Market Structure Bill (e.g. CLARITY Act House Version + Senate Drafts) MSTR & JPM A Congressional vote is coming shortly that will provide greater regulatory clarity by reducing prior banking restrictions on Bitcoin's use as a commodity PLEASE READ // RE: Digital Asset Market Structure Bill (e.g. CLARITY Act House Version + Senate Drafts) MSTR & JPM A Congressional vote is coming shortly that will provide greater"  
[X Link](https://x.com/thebtcpharaoh/status/2000896691835429061)  2025-12-16T11:52Z [----] followers, [----] engagements


"Always great to see the #Metaplanet team on podcasts as I try to read between the lines and get a few insights into how theyre looking at things. @DylanLeClair and @phil_geiger do a great job and I definitely recommend anyone interested in the company or following it to watch this. I listened to it twice today to make sure I didnt miss any nuances in the conversation. I wont repeat whats already there but a few snippets that I would highlight are: [--]. They see themselves not just as a Bitcoin Treasury Company but as a Bitcoin Company this will be more evident and come together with and the"  
[X Link](https://x.com/thebtcpharaoh/status/2016445433216950780)  2026-01-28T09:37Z [----] followers, [----] engagements


"I don't necessarily disagree with you but another way to look at it is that capital raised in JPY when relatively strong will buy them more BTC while they are in this heavy accumulation mode. Ultimately a rising BTC tide will lift all boats. And while the JPY may be relatively strong for a period of time given their relatively small mcap I would expect mNAV expansion to offset any currency strength and allow them to accelerate with a big leap in both BTC held and btc/share. https://twitter.com/i/web/status/2018904318947254359 https://twitter.com/i/web/status/2018904318947254359"  
[X Link](https://x.com/thebtcpharaoh/status/2018904318947254359)  2026-02-04T04:27Z [----] followers, [---] engagements


"Lots of posts today covering the significance of todays large purchase announcement and the contribution from $STRC which looks like its just getting started here. Instead I want to address one topic in specific which is mostly discussed by those who are more critical about $MSTR and its outlook. and thats regarding the aggressive use of the equity ATM near 1.0x mNAV. Its natural to be questioning what the logic is if its only neutral to mildly accretive for current shareholders. Having followed @saylor very closely for over [--] years now and listened carefully to every word hes said sometimes"  
[X Link](https://x.com/thebtcpharaoh/status/2010771792873566682)  2026-01-12T17:52Z [----] followers, 16.6K engagements


"#Metaplanet is the exit ramp. $MPJPY $MTPLF Meanwhile in Japan. Hey you guys ok https://t.co/HzRgDiFgs1 Meanwhile in Japan. Hey you guys ok https://t.co/HzRgDiFgs1"  
[X Link](https://x.com/thebtcpharaoh/status/2011723326134370359)  2026-01-15T08:53Z [----] followers, [----] engagements


"@GrafYves ENTER MARS 🚀 #Metaplanet $MPJPY $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/2012401688527688015)  2026-01-17T05:48Z [----] followers, [---] engagements


"8% away from accretive BTC purchases via MSWs $MPJPY $MTPLF The party continues. feels like we want to cross that [---] yen level and restart the engine 🚀 $MPJPY $MTPLF #Meaplanet https://t.co/2uFwt9bXfg The party continues. feels like we want to cross that [---] yen level and restart the engine 🚀 $MPJPY $MTPLF #Meaplanet https://t.co/2uFwt9bXfg"  
[X Link](https://x.com/thebtcpharaoh/status/2011244088948113904)  2026-01-14T01:08Z [----] followers, [----] engagements


"In case you were wondering limit up is +100Y for stocks trading in the 501-700Y range. That means 628Y for today. Almost there. #Metaplanet $MPJPY $MTPLF"  
[X Link](https://x.com/thebtcpharaoh/status/2011290356860796977)  2026-01-14T04:12Z [----] followers, [----] engagements


"The last time #Metaplanet traded around these levels BTC was $115K. We are back around 600Y while BTC is at $95K. There is signal in the relative behaviour. $MPJPY $MTPLF In case you were wondering limit up is +100Y for stocks trading in the 501-700Y range. That means 628Y for today. Almost there. #Metaplanet $MPJPY $MTPLF https://t.co/8v68yWb7cq In case you were wondering limit up is +100Y for stocks trading in the 501-700Y range. That means 628Y for today. Almost there. #Metaplanet $MPJPY $MTPLF https://t.co/8v68yWb7cq"  
[X Link](https://x.com/thebtcpharaoh/status/2011359420169814479)  2026-01-14T08:47Z [----] followers, [----] engagements

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