Metaplanet’s Short Squeeze: The Bitcoin Drama You Didn’t Know You Needed! 😂

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Ah, the world of finance! A stage where the players are as unpredictable as a cat on a hot tin roof. Metaplanet Inc., that illustrious titan of Bitcoin treasury in Asia, has now become Japan’s most shorted stock. Who would have thought? It’s like watching a soap opera unfold, but with more numbers and fewer dramatic pauses.

Our dear CEO, Simon Gerovich, has taken to X to reveal that over 25% of Metaplanet’s shares have been borrowed for short positions. It’s as if the crypto community is whispering sweet nothings about a potential GameStop-style short squeeze, but this time, it’s powered by Bitcoin instead of memes. Because who needs a good meme when you have cryptocurrency, right? 😏

BTC Strategy Powers Record Growth

Once a humble hospitality company, Metaplanet has transformed into Japan’s biggest corporate BTC holder. It’s like Cinderella, but instead of a glass slipper, it’s wearing a Bitcoin crown. The firm recently reported a record ¥877 million ($6M) in Q1 revenue, with a staggering 88% of that coming from its Bitcoin strategy. Talk about a plot twist!

Since January, Metaplanet has increased its crypto holdings nearly fourfold, with a recent purchase of 1,004 BTC for over $104 million. That brings their total stash to 7,800 BTC, valued at more than $800 million. Meanwhile, Michael Saylor’s Strategy is out there buying 7,390 BTC like it’s going out of style. Who knew Bitcoin was the new black? 🖤

But alas, instead of boosting investor confidence, Metaplanet’s crypto pivot has sparked a wave of short interest. Japanese bond yields are spiking, and it seems everyone is betting against this crypto-heavy stock. Over the past week, shares dipped 12.84%, giving short sellers a reason to pop the champagne. But wait! They might have underestimated the retail and institutional momentum. Plot twist alert! 🎉

Short Squeeze Risk Escalates

In a dramatic turn of events, Metaplanet’s share price shot up to its daily limit, halting trading on two consecutive days. It closed at ¥933 on May 21, leaving short sellers in a bit of a pickle. The Tokyo Stock Exchange circuit breakers have turned this into a slow-motion squeeze, and Bitcoiners are rallying behind Metaplanet like it’s the last lifeboat on the Titanic.

“Metaplanet MTPLF will be the GME of 2021,” tweeted analyst Chicken Genius. “Except this time, backed by the hardest monetary hedge in the world. Bitcoin.”

On May 20, Gerovich shared that his firm’s OTC listing had jumped in ranking, now sitting pretty at third by dollar volume. It’s like watching a contestant on a reality show suddenly become the fan favorite!

What makes this play even more intriguing is Metaplanet’s strategy. As one community member, Macrocomics, pointed out, they’re leveraging a put-selling strategy on Bitcoin futures. It’s like they’re playing chess while everyone else is playing checkers. They’re either acquiring BTC at a discount or generating income for more purchases, all while avoiding debt. Genius or madness? You decide! 🤔

So, while short sellers may see Metaplanet as overextended, the fundamentals and market sentiment tell a different tale. It’s like a classic Chekhov play—full of unexpected twists and turns.

“Imagine being short Metaplanet on the TSE and being unable to close your short positions the past 2 days because of limit up halts,” warned an X user. Oh, the irony!

With the firm’s stock locked in limit-up territory, traders are bracing for another spike when trading resumes. If retail investors join the rally, as they did with GameStop, the squeeze could intensify, forcing short sellers to cover at even higher prices. And thus, the drama continues!

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2025-05-21 17:46