{"id":598333,"date":"2026-05-14T12:00:10","date_gmt":"2026-05-14T16:00:10","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=598333"},"modified":"2026-05-14T05:34:22","modified_gmt":"2026-05-14T09:34:22","slug":"taking-longer-can-metaplanet-still-catch-strategy-in-bitcoin-race","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/taking-longer-can-metaplanet-still-catch-strategy-in-bitcoin-race\/","title":{"rendered":"\u2018Taking longer\u2019 \u2013 Can Metaplanet still catch Strategy in Bitcoin race?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Japanese Strategy, Metaplanet, posted a $750 million loss in Q1 and will delay the much-awaited preferred stocks meant to drive Bitcoin buys.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Like Michael Saylor\u2019s push for a bi-monthly dividend for Stretch [STRC] to drive BTC accumulation, Metaplanet explored a similar option. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It proposed that Mars and Mercury preferred stocks be issued last November to address the constant share dilution and fund <a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\/\" target=\"_blank\" rel=\"noopener\">Bitcoin [BTC]<\/a> buys.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These unique offerings come with variable dividends and allow a firm to raise capital without directly selling and diluting its class A stock. Besides, it&#8217;s faster, and Michael Saylor has favored it over past convertible debts.<\/span><\/p>\n<h2>What is slowing the rollout in Japan?<\/h2>\n<p><span style=\"font-weight: 400;\">According to the firm\u2019s CEO, Simon Gerovich, however, the current Japanese regulations have made it difficult to debut the products. He noted that Japanese firms only pay a yield once or twice per year. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hence, their proposed dividend-paying preferred stock will need reworking and broader engagement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, Gerovich <\/span><a href=\"https:\/\/x.com\/gerovich\/status\/2054502862978498586\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">said<\/span><\/a><span style=\"font-weight: 400;\"> regulators require yield-paying firms to have sustainable cash flows from underlying operations. Still, he was hopeful of bringing the products to the market.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">We are working closely with our partners to build and modernize this infrastructure in a manner consistent with Japanese regulatory and market practice. The process has taken longer than we initially anticipated, and we appreciate that this has created uncertainty.<\/span><\/p><\/blockquote>\n<figure id=\"attachment_598339\" aria-describedby=\"caption-attachment-598339\" style=\"width: 588px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104034.png\"><img decoding=\"async\" class=\"wp-image-598339 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104034.png\" alt=\"Metaplanet \" width=\"588\" height=\"485\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104034.png 588w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104034-300x247.png 300w\" sizes=\"(max-width: 588px) 100vw, 588px\" \/><\/a><figcaption id=\"caption-attachment-598339\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<h2>Will Metaplanet play catch-up to Strategy?<\/h2>\n<p><span style=\"font-weight: 400;\">To put what\u2019s at stake into perspective, picture Strategy\u2019s STRC. It earns a variable interest of 11.5%. So far, over $8.5B worth of STRC has been issued, with the bulk of it used for BTC buys.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Strategy now owns over 818K BTC with +146K BTC acquired in 2026 alone, primarily via STRC.\u00a0\u00a0<\/span><\/p>\n<figure id=\"attachment_598341\" aria-describedby=\"caption-attachment-598341\" style=\"width: 1151px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104450.png\"><img decoding=\"async\" class=\"size-full wp-image-598341\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104450.png\" alt=\"Metaplanet \" width=\"1151\" height=\"607\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104450.png 1151w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104450-300x158.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104450-1024x540.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-14-104450-768x405.png 768w\" sizes=\"(max-width: 1151px) 100vw, 1151px\" \/><\/a><figcaption id=\"caption-attachment-598341\" class=\"wp-caption-text\"><span style=\"font-weight: 400;\">Source: Bitcoin Quant<\/span><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Metaplanet is still <\/span><a href=\"https:\/\/ambcrypto.com\/metaplanet-issues-50-mln-zero-interest-bond-for-extra-bitcoin-buys-details\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">targeting 100K BTC<\/span><\/a><span style=\"font-weight: 400;\"> in 2026. But it has resorted to quarterly BTC buys due to limitations and uncertainty of its preferred stocks. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of writing, it held 40,117 BTC, but it was unclear whether it could buy the 60K BTC shortfall by December.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Separately, the firm <\/span><a href=\"https:\/\/contents.xj-storage.jp\/xcontents\/33500\/52a29800\/b856\/49e5\/873b\/e949fee9243b\/140120260513530552.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">reported<\/span><\/a><span style=\"font-weight: 400;\"> a \u00a5114.5 billion (about $725 million) net loss in Q1, largely due to the fair value of its BTC holdings during the early 2026 crypto downturn. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It added only 5,075 BTC, worth $399M, in Q1. For perspective, JPMorgan estimates Strategy could buy $30B worth of BTC this year due to STRC.\u00a0<\/span><\/p>\n<hr \/>\n<h2>Final Summary<\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Metaplanet reported a $750M net loss in Q1, noting that its preferred stocks meant for BTC accumulation have been delayed due to slow Japan rules.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">The setback could make the firm fall behind Strategy, which is actively leveraging its STRC to scale BTC accumulation\u00a0<\/span><\/em><\/li>\n<\/ul>\n<hr \/>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Will Metaplanet meet its 2026 target of 100K BTC amid regulatory challenges to its capital raising plans? <\/p>\n","protected":false},"author":79,"featured_media":598392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-598333","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>\u2018Taking longer\u2019 \u2013 Can Metaplanet still catch Strategy in Bitcoin race? 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