$3350 (+3,98%) is and remains one of the most asymmetrical investments you can currently make, IF you
- the long-term significance of $BTC (+0,28%) understands
- can withstand high volatility
- recognize the locational advantage in Japan
- recognizes the mathematics behind the aggressive accumulation of $BTC (+0,28%) and the associated leverage sees
Here are a few theses that I would like to open up for discussion:
- Metaplanet uses the Japanese carry trade as leverage. They issue preferred shares, such as MERCURY. This costs them 4.9% fixed dividend per year, paid out in yen. For the money from the prefs they buy $BTC. (+0,28%) Due to the debt-to-GDP in Japan of approx. 260% and the weakness of the yen, which is offset by the constant appreciation of $BTC (+0,28%) a kind of asymmetrical carry trade arises.
- Because the argument of the lack of income keeps coming up: $3350 (+3,98%) generated income from the sale of cash-secured puts on $BTC (+0,28%)the fees that buyers pay when trading options. As a result, they generated around USD 55 million in 2025, with significant growth from quarter to quarter. The first tranche of MERCURY issues generates around USD 7.35m / year in dividends. In Q4 alone, USD 27 million was collected. And this figure could reach USD 150m in Q4/26 if growth remains the same. This could finance USD 3 billion in prefs in just one quarter.
- Expansion into the USA via ADR program since the end of December. Better liquidity, visibility and cheaper financing.
- No exclusion from equity indices by MSCI.
- Regulatory support from Japanese Finance Minister.
- Possible TOPIX inclusion this year.
- NOVA launch. Not much is known about this yet. $3350 (+3,98%) wants to become the "Bitcoin center" in Japan, similar to Coinbase in the USA, only focused on $BTC (+0,28%)
$3350 (+3,98%) was a falling knife for a long time, but anyone who is not put off by this will be delighted. I look forward to your opinions, including critical ones!




