Japanese firm Metaplanet has purchased an additional 1,005 Bitcoin for $97 million, bringing its total holdings to 13,350 BTC. The company’s aggressive accumulation strategy, funded through bonds and stock rights, raises concerns over structural fragility and potential market risks.
- Metaplanet's bond-funded Bitcoin strategy has delivered 348.8% YTD returns but risks liquidity crunches during market volatility.
- Japan's tax on unrealized Bitcoin gains could drain Metaplanet's cash reserves, complicating its debt-heavy acquisition model.
- Analysts compare Metaplanet's approach to Michael Saylor's playbook but caution it may trigger a 'death spiral' if forced selling occurs.
📎 Related coverage from: decrypt.co
