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Metaplanet’s Massive Bitcoin Buying Plan: Mars & Mercury Analysis
In this episode, we break down Metaplanet’s newest preferred share offerings: Mercury and the upcoming Mars adjustable-rate security, and what they mean for the company’s long-term Bitcoin accumulation strategy. With Japan’s historically low interest rates, Metaplanet is taking a unique approach to financing, potentially enabling a massive Bitcoin buying plan through low-yield preferreds, and even a possible “yen carry trade 2.0.”
We cover everything you need to know:
• Mercury’s 4.9% dividend and ¥1000 conversion strike
• How these preferreds compare to Strategy’s STRK/STRC
• Potential arbitrage and yield-spread opportunities
• The impact of $260M in combined raises (Mercury + Mars)
• How many BTC Metaplanet could accumulate at current prices
• Updates to the moving-strike warrant program and dilution protection
If you follow Metaplanet, Bitcoin treasury strategies, or the evolving Japanese financial market, this is a must-watch deep dive.
00:00 Introduction
00:13 Metaplanet Preferred “Mercury” Overview
02:06 Unlocking the Conversion Feature — Understanding Mercury’s ¥1000 Strike Price
04:17 Arbitrage & Yen Carry Trade Opportunities
07:15 Metaplanet’s Bitcoin Accumulation Strategy (Up to $260M Raise)
08:43 Mars Preferred Overview & Adjustable Rate Structure
10:19 Moving Strike Warrant Changes & Reduced Dilution Risk
11:13 Metaplanet’s Future Roadmap & Final Takeaways
Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81
DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only.
Thank you for listening!
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Published on 1 month ago