Core Viewpoint - Metaplanet (MTPLF), Japan's largest corporate Bitcoin holder, is restructuring its capital by issuing preferred shares to raise funds and minimize dilution from common share issuances [1][4]. Group 1: Capital Structure Changes - The company plans to offer two types of preferred shares, "Mars" and "Mercury," to institutional investors as a new funding source while providing regular dividend payments [1][3]. - The issuance of 23.6 million Mercury shares aims to raise ¥21.2 billion ($135 million), with shares priced at ¥1900 ($5.71) each [3]. Group 2: Dividend Structure - Mars will have a fluctuating dividend rate designed to reduce volatility in secondary markets and will not have conversion rights into common equity, but it will be senior to common shares and Mercury [2]. - Mercury will provide a fixed annual dividend of 4.9% on a base amount of ¥1,000 ($6.35), with an initial distribution of ¥0.40 yen ($0.0025) for the current quarter [2]. Group 3: Market Position and Performance - Metaplanet is the third Bitcoin treasury firm to issue preferred shares, following Strategy and Strive, which have historically issued common shares to increase Bitcoin holdings [3]. - The company's market cap is currently slightly above its Bitcoin holdings, with $30,823 Bitcoin valued at $2.67 billion and a market cap of approximately $2.81 billion [5].

Core Viewpoint - DDC (日日煮) announced a significant purchase agreement to acquire 300 bitcoins, marking its largest single bitcoin acquisition to date, which is expected to enhance its total bitcoin holdings to 1,383 coins and project a 99% return on bitcoin by the second half of 2025 [1] Group 1 - DDC's stock rose over 11% to $4.89 following the announcement of the bitcoin purchase [1] - The acquisition of 300 bitcoins is a strategic move to increase the company's cryptocurrency portfolio [1] - The expected return of 99% on bitcoin holdings by 2025 indicates strong future growth potential for the company [1]

Core Insights - The company raised $136.1 million through the sale of preferred stock and used the proceeds to acquire 8,178 bitcoin at an average price of $102,171 per bitcoin [1][5] Group 1: Preferred Stock Sales - The company sold three series of preferred stock under its at-the-market (ATM) offering program, including 39,957 shares of 10.00% Series A Perpetual Strife Preferred Stock (STRF) for $4.0 million in notional value and $4.4 million in net proceeds [2] - It also sold 1,313,641 shares of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for $131.4 million in notional value and $131.2 million in net proceeds [2] - Additionally, 5,513 shares of 8.00% Series A Perpetual Strike Preferred Stock (STRK) were sold for $0.6 million in notional value and $0.5 million in net proceeds [2] Group 2: Remaining Capacity and Offerings - As of November 16, the company reported remaining capacity under its ATM programs of $1.64 billion for STRF, $4.04 billion for STRC, $20.34 billion for STRK, $4.13 billion for its 10.00% Series A Perpetual Stride Preferred Stock (STRD), and $15.85 billion for its Class A common stock (MSTR) [3] - The company completed a public offering of 7,750,000 shares of its 10.00% Series A Perpetual Stream Preferred Stock (STRE) at a public offering price of €80.00 per share, generating gross proceeds of approximately €620.0 million (or $716.8 million) [4] Group 3: Bitcoin Acquisitions - The company acquired 8,178 bitcoin during the period from November 10 to November 16 at an aggregate purchase price of $835.6 million, funded by proceeds from the STRE offering and sales of STRF, STRC, and STRK [5] - As of November 16, the company held a total of 649,870 bitcoin, with an aggregate purchase price of approximately $48.37 billion and an average purchase price of $74,433 per bitcoin [6] - In a previous filing covering the period from November 3 to November 9, the company reported selling $50 million across its four preferred stocks and acquiring 487 bitcoin for $49.9 million at an average price of $102,557 per bitcoin [6]

Strategy unveiled its largest Bitcoin purchase in over four months on Monday, spending $835 million on the asset as its price fell, according to a press release. The Tysons Corner, Virginia-based firm now owns nearly 650,000 Bitcoin, which was worth around $61 billion. Bitcoin recently changed hands around $94,000, representing an 11% decline over the past week, according to crypto data provider CoinGecko. Strategy’s latest Bitcoin purchase was boosted by the debut of its euro-denominated preferred share, w ...

Core Viewpoint - MicroStrategy is facing significant challenges as its market capitalization has fallen below the total value of its Bitcoin holdings, marking a historic first for the company [1]. Group 1: Market Performance - As of Friday, MicroStrategy's market capitalization dropped to $59 billion, while its Bitcoin holdings are valued at $62.3 billion, resulting in a relative net asset value multiple (mNAV) of approximately 0.95 [1]. - The company's stock price has plummeted 32% over the past month, coinciding with Bitcoin's price falling below $95,000, reaching a six-month low [1]. Group 2: Company Strategy and Actions - Michael Saylor, co-founder and executive chairman, stated that the company is continuing to purchase Bitcoin and plans to announce new purchases on Monday, expressing confidence that the market will be surprised [1][5]. - MicroStrategy's strategy has consistently been to buy Bitcoin, with pauses in announcing new purchases at the end of each fiscal quarter [3]. Group 3: Financing Mechanism - The current market situation has raised concerns about MicroStrategy's financing mechanism, which relies on issuing stock and convertible bonds at a premium to purchase Bitcoin [4]. - The company's mNAV of 0.95 indicates that this financing mechanism has become ineffective [4]. - MicroStrategy has raised $8.2 billion through convertible bonds and $7.6 billion in preferred stock, with a recent announcement of a €715 million preferred stock issuance in Luxembourg [5]. Group 4: Debt and Financial Stability - Despite the market's skepticism, Saylor expressed confidence in the company's financial stability, asserting that even if Bitcoin prices were to drop by 80%, MicroStrategy would still have sufficient collateral to meet its debt obligations [6]. - The company's convertible bonds are not due until 2028, making it unlikely that MicroStrategy will need to sell Bitcoin to repay debts in the near term [3].

Strategy’s latest offering is expected to generate $715 million in proceeds, as it taps foreign markets for the first time, the Bitcoin-buying firm said in a blog post on Friday. Earlier this week, the Tysons Corner, Virginia-based company unveiled its Perpetual Stream Preferred Stock, or STRE, a preferred share that’s denominated in euros and designed to pay regular dividends. It follows Strategy’s introduction of four other preferred stocks this year. Unlike Strategy's other preferred shares, which became ...

Core Viewpoint - Haotian International Construction Investment (01341) has experienced a significant decline in stock price, dropping over 8% and currently trading at 0.132 HKD with a transaction volume of 1.89 billion HKD [1] Group 1: Company Actions - On October 23, Haotian International Construction Investment announced the acquisition of 646 units of Ethereum through open market transactions, totaling approximately 2.71 million USD [1] - The acquisition cost was determined based on the buy and sell prices of Ethereum in the open market and was funded by the company's internal resources generated during its regular business operations [1] Group 2: Market Context - Ethereum, the second-largest cryptocurrency by market capitalization, fell below 3,300 USD on Tuesday, reflecting a broader decline in the cryptocurrency market [1] - The drop in cryptocurrency prices, including Ethereum and Bitcoin, is attributed to a significant decrease in market risk appetite, coinciding with a pullback in U.S. tech stocks driven by the fading bullish sentiment in the stock market fueled by the AI hype [1] - The magnitude of the cryptocurrency market's decline has been more severe compared to the pullback in U.S. equities [1]

Core Viewpoint - Haotian International Investment (01341) has experienced a significant decline in its stock price, dropping over 8% and currently trading at 0.132 HKD, with a trading volume of 189 million HKD [1] Company Summary - On October 23, Haotian International Investment announced the acquisition of 646 units of Ethereum through open market transactions, totaling approximately 2.71 million USD [1] - The acquisition cost was determined based on the buy and sell prices of Ethereum in the open market and was funded by the company's internal resources generated during its regular business operations [1] Industry Summary - Ethereum, the second-largest cryptocurrency by market capitalization, fell below 3,300 USD on Tuesday, reflecting a significant downturn in market sentiment as the bullish enthusiasm driven by AI trends on Wall Street sharply declined [1] - The risk appetite in the market has drastically decreased, leading to a more severe decline in cryptocurrencies like Ethereum and Bitcoin compared to the pullback in U.S. tech stocks [1]

microstrategy Michael Saylor BTC. Photo by BeInCrypto Strategy (formerly MicroStrategy) has announced plans for an initial public offering of its first-ever euro-denominated perpetual preferred stock, STRE. The company said the proceeds will be used for general corporate purposes, including acquiring Bitcoin (BTC). This initiative arrives as the BTC treasury company continues to ramp up its cryptocurrency holdings with the recent $45.6 million investment. The move highlights a determined expansion strateg ...

Core Insights - BitMine's cryptocurrency holdings include 3,395,422 ETH, which represents an increase of 82,353 ETH from the previous week, accounting for 2.8% of the total ETH supply [1] Summary by Category - **Company Holdings** - BitMine has increased its ETH holdings to 3,395,422 ETH, reflecting a weekly increase of 82,353 ETH [1] - The current holdings represent 2.8% of the total ETH supply [1]