Metaplanet and Strategy hold nearly $10 billion in unrealized Bitcoin losses.
Metaplanet’s 43,000 BTC are down $1.5 billion on paper. Strategy’s losses hit $8.2 billion. Tokenized, this combined loss would be the 11th largest digital asset by market cap.
Our take: This is extreme concentration risk in BTC. Especially with firms funding purchases via debt. It’s a high-indebtedness model with no inherent yield, yet the market isn't pricing it. BTC trades at $63,492, below its EMA20 ($63,518) and EMA50 ($63,664). No immediate concern, despite the Fear & Greed index at 29 (Fear).
Would you keep funds on a mid-tier exchange right now?
$BTC
Metaplanet’s 43,000 BTC are down $1.5 billion on paper. Strategy’s losses hit $8.2 billion. Tokenized, this combined loss would be the 11th largest digital asset by market cap.
Our take: This is extreme concentration risk in BTC. Especially with firms funding purchases via debt. It’s a high-indebtedness model with no inherent yield, yet the market isn't pricing it. BTC trades at $63,492, below its EMA20 ($63,518) and EMA50 ($63,664). No immediate concern, despite the Fear & Greed index at 29 (Fear).
Would you keep funds on a mid-tier exchange right now?
$BTC