Ace Ender

Assets are overvalued due to artificially suppressed interest rates over the last 20 years, which has created bubbles in real estate and stocks. Bonds provide negative real return. Cash loses purchasing power every year. The only rational option for long term value storage for non traders is hard assets or undervalued companies if you can find them in an environment of overvaluations, which even Warren Buffet can’t do. Precious metals were the logical choice for this environment in the past, but that was before Bitcoin arrived on the scene and solved for all of Gold’s shortcomings: difficult verification, difficult transport, difficult storage, and gradual debasement. Until there is a structural reset and all financial assets are repriced, the only rational place for the average investor to store their long term wealth is Bitcoin. Diversification is normally a great strategy, but that assumes a functioning financial system that operates according to free market principles. Unfortunately, we live in a centrally controlled financial system where the Fed has distorted all prices across all assets within the system by manipulating the price of the money the underlies the entire system. To protect your wealth, you have to step outside of the system and ditch antiquated stores of value like Gold. Once you realize this, you realize Bitcoin is the hurdle rate, and you become a Bitcoin maxi.

You can be early and still get rich. You can be late and still get rich. But you can't be inconsistent and get rich. Pick a lane. Stay in it.

@dRiskDave He’s referring to Memorial Day. You’re so delusional.

$MPJPY: US preferreds incoming.

@AdamBLiv He’s referencing Memorial Day. This has nothing to do with Metaplanet.

Metaplanet launching US prefs? TOO MANY HINTS! THE SLEEPING BEAST IS ABOUT TO BE AWOKEN.

@TheFrenchWS @dRiskDave Why?

@orangeyield @dRiskDave Never bet against JAPAN 🇯🇵

$MPJPY: Metaplanet is the best risk adjusted trade in the market right now. Even the people who understand digital credit are sleeping on it. 2% of you will be able to time the “opportunity cost trade” rotation from $ASST back to MPJPY. 98% of you will not.

@SatSideQuest @the_desert_ape Good point, although a considerable discount would be needed to make that worthwhile. There is a real danger in trading slightly below 1 mNAV; not enough to warrant share buybacks, but still having no premium to take advantage of.

@orangeyield @the_desert_ape No, you don't sell BTC to buyback shares. You borrow the money. As BTC increases in value, your leverage falls, you borrow more, buyback shares, rinse and repeat.....

Good afternoon all, hope everyone’s had a good week. As always, I’ve been following the comments here and in the chat over the last few days and really appreciate the support, feedback and engagement everyone continues to provide. The share price has obviously been a little frustrating given the steps forward made this week - it’s important to remember that it remains just one measure of progress as we focus on our 10-year plan. Moreover, the team continues to work extremely hard behind the scenes across a number of initiatives and we remain very focused on long-term execution and building the business the right way. I personally really enjoyed @Croesus_BTC’s piece on the UK asset landscape and would recommend reading it if you haven’t already (see his profile page or our website). I think it does an excellent job outlining the long-term capital markets opportunity for a UK Bitcoin treasury company. @asjwebley will publish his usual weekly update tomorrow, but I just wanted to say thank you again for the continued support and engagement. We will always aim to respond where and when we can, whilst obviously remaining mindful of what we are permitted to say publicly. Hope everyone manages to touch some grass this weekend and then we go again next week. Jamie LSE: #SWC | OTCQB: $TSWCF | FRA: $3M8

@SatSideQuest @the_desert_ape Until you run out of BTC.

@orangeyield @the_desert_ape You literally increase BPS by doing a buyback. In theory you could do this into perpetuity.

A BTC treasury trading below 1 mNAV doesn’t necessarily constitute a good buy. It could be the market saying, we don’t trust your ability to amplify the balance sheet. Once a treasury find its self trading at a discount to its NAV, it’s only way out is to add leverage. If Metaplanet sits on it hands waiting for Japanese regulators and investors to get on board, not only will it underperform the American treasuries, it will underperform BTC.

@SatSideQuest @the_desert_ape Not necessarily; look at NAKA. It’s the market saying, you have no way of increasing my BPS, so I’m going to discount the BTC I your balance sheet.

@orangeyield @the_desert_ape Shares below mNAV are an opportunity if the company chooses to take advantage.

@RoaringRagnar I just hope Metaplanet doesn’t sit on their hands until 2028, when Japanese prefs have a greater shot at being issued and catching on.

@orangeyield Fair play to you. 🙌🏼

When the facts change, I change. My largest Bitcoin Treasury position is now $ASST. And I own a shit ton of it. I still love Metaplanet and hold a ton of shares, but the opportunity cost is real. Strive has a spinning flywheel, whereas Metaplanet is still waiting for all the parts to come together. My plan is to ride up $ASST, and then rotate back to Metaplanet, once they assembled their digital credit vehicle. But for now, the Strive team has raised the bar for everyone: - rapid execution - fast innovation - great communication - their own media arm (podcast channels) ... are the new standard. As always, I only answer to myself, and will always do whatever is best for me and my goals. Never follow a random Viking on the internet. Think for yourself, come to your own conclusions, and take responsibility for your own life. And now, let's spin this beautiful $ASST flywheel to Valhalla. 🔥

@saylor He’s in Annapolis, MD here.

Pizza keeps getting cheaper on a #Bitcoin Standard.

@Dude123hil @dRiskDave @ShitStockQ Been a large shareholder since early 2025.

@orangeyield @dRiskDave @ShitStockQ Hey Ace, what is your Personal stake here? It seems like, I see you under a lot of metaplanet Posts. Valid criticism is needed and healthy.

ほら なんかメタプラネットおかしいぞ

People who keep claiming Metaplanet prefs in the US are imminent are not credible. Any US move would likely require shareholder approval, regulatory filings, and strong market rationale. Additionally, practical barriers for Metaplanet launching prefs in the US include: • Their preferred share strategy targets Japan’s yield-hungry investors and Bitcoin treasury needs. A US listing would add complexity without clear immediate benefits. • Liquidity and demand for a Japanese Bitcoin-proxy preferred in the US might be limited compared to their common shares or US peers like MicroStrategy. • Regulatory alignment (e.g., perpetual preferreds with Bitcoin exposure) could raise additional scrutiny in Japan. Anyone claiming US prefs are imminent are coping with an investment thesis that simply is going to take a long time to play out and underperform its peers in the short to medium term.

@w_s_bitcoin @R89Capital BTC has been my denominator since 2020. DCAing into TSLA since 2024 has actually increased my BTC net worth more than anything.

@orangeyield @R89Capital I hope you are measuring your net worth in terms of bitcoin though. Don't cheat yourself.

BTC has been a disappointment to everyone in the last few years that's just a fact

@w_s_bitcoin @R89Capital All those charts you make and you don’t take advantage of the obvious? Sell in the autumn of the 4th year, and then start DCAing a year later for 3 years. It’s that simple.

@orangeyield @R89Capital

@AdamBLiv @grok This is why diversifying between Treasuries makes sense. You don’t know what you don’t know. I’ve been tempted to sell the rest of my Metaplanet for ASST for months now, but a voice inside my head won’t let me.

Yup. I think they're likely going to get the vote closed and pursue them. Unless there is something different in the prospectus that allowed Strive to do it with SATA but legally blocks Strategy. @Grok can you look into the prospectus for both STRC and SATA and let us know if there would be anything legally blocking Strategy from pursuing daily dividends with STRC? They could always do another preferred too.

$SATA is absolutely dominating and the daily dividends aren't even here yet. The thesis behind daily dividends on $SATA was that monthly ex-div events were concentrating volume and dislocating price. Solve the schedule, dissolve the volatility! 5 trading sessions in since the daily dividend announcement, the data is already screaming: Volume: +91% vs prior 10 days Range: −41% vs prior 20 days, −62% vs prior 30 days Price: $99.30 → $100.00 The market repriced the structural fix before the first daily payment lands on June 16. $ASST

@w_s_bitcoin @R89Capital The times I’ve traded is when my BTC net worth has gone up the quickest. Wish I would have traded more. I’ll be unloading in 2029, just like a lot of people.

@orangeyield @R89Capital Go ahead and try to trade it. I bet you'll end up with a smaller net worth in terms of bitcoin.