@Eh_0z

My time horizon is longer than most so I’m buying things that humans will want, in time. Bitcoin and Public Equities

 Oz
Joined March 2009
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87Media
1/ Metaplanet just fixed the 10th Series options. They abolished the anti-dilution clause that kept expanding the pool to ~20% of fully diluted shares. @orangeyield @ZynxBTC
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3/ Holders also agreed to a 5-year lock-up on shares from exercise. Plus plans to move some options into a long-term employee incentive vehicle.
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4/ This removes the main structural drag we discussed. Future raises no longer expand management’s option pool.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ release.tdnet.info/inbs/1401…
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1/ Some people are worried the ¥10 stock options (10th SO) mean Simon is scamming shareholders. Let’s look at the actual facts from the filings. This is not a hidden scam. It’s a legacy 2022 grant from when Metaplanet was a near-dead hotel company. 🧵
Ace Ender
@orangeyieldAug 9
Metaplanet is a corporate vehicle designed to transfer value from retail shareholders to Simon Gerovich and his inner circle.

Metaplanet's Bitcoin Extraction Scheme

Article · @orangeyield
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10/ Scams don’t usually: • Fully disclose everything in regulatory filings • Deliver tens of thousands of BTC • Attract major institutions • Have the CEO with large personal exposure They extract and disappear. This one is still building in public.
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11/ If you’re worried, read the original 2022 issuance docs + the latest diluted share tables yourself. Ask questions. Demand clarity. That’s healthy. But the evidence points to a high-risk 2022 incentive that paid off because the strategy worked. DYOR. Not financial advice.
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My keynote on how @XCEofficial has a unique opportunity to drive BTC business adoption 🇬🇧➡️🌍➡️🟠
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We might be in an environment similar to Feb 2020, but look at what Bitcoin did 6 months and 12 months later…
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Here’s the full episode:
The Hurdle Rate Podcast
@HurdleRatePodMar 31
Welcome Back to The Hurdle Rate. Episode 53: Bitcoin, AI and The New QE The crew is back this week discussing the growing risks around the US debt crisis and what it could mean for markets. They then explore how AI is rapidly disrupting the startup economy, before diving into debasement and how to think about portfolio construction in this environment. Finally, they debate what types of non-Bitcoin companies could still be attractive going forward. Here's the latest with @TimKotzman, @ColeMacro, @PunterJeff, and @Werkman. 0:30 - Welcome Back to The Hurdle Rate 2:15 - US Debt Crisis 18:07 - AI Disruption in The Startup Economy 31:28 - Debasement & Portfolio Construction 45:04 - Which Type of Non-Bitcoin Company Would Even Be Attractive Now?
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Fiat is a melting ice cube, which is a good analogy. A melting icecube can be either a pain or be put to use. Place it in the appropriate vessel and it increases the value over the sum of the parts. This is a comment about Bitcoin treasury companies.
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In person events are back! We might have just seeded Australia’s first Bitcoin Treasury Conference… 60+ people at a bitcoin event covering bitcoin treasury companies. It was a great interview between @_DannyKnowles and @sorenstein Organised by @mineracks 👏
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