Todays Top Stories

Editor: @GreenCandleJack

What is Metaplanet Asia’s MicroStrategy

Metaplanet, a Tokyo-based early-stage investment firm, has rapidly emerged as one of the largest corporate Bitcoin holders in Asia, with total holdings surpassing 1,100 BTC, valued at approximately $69 million. Given this significant and culturally relevant milestone, we thought it was time to dive a little deeper.

Their aggressive foray into Bitcoin began in April 2024 when Metaplanet adopted the cryptocurrency as a strategic treasury reserve asset, closely following in the footsteps of U.S.-based MicroStrategy. The company has been on a significant Bitcoin buying spree, particularly in October 2024, adding over 600 BTC across multiple transactions. Its latest purchase of 156.78 BTC, valued at $10.4 million, brought its total holdings to over 1,100 BTC.

CEO Simon Gerovich has emphasized that this accumulation strategy is part of a long-term bet on Bitcoin as a financial asset, similar to MicroStrategy’s strategy, led by CEO Michael Saylor. Gerovich’s firm aims to use Bitcoin to hedge against inflation and market volatility, strengthening its position in the rapidly evolving digital asset market.

In addition to Bitcoin acquisitions, Metaplanet has introduced a “BTC Yield” metric—mirroring MicroStrategy’s similar approach—to assess the impact of Bitcoin purchases on shareholder returns. This innovative metric is intended to offer more transparency and help investors evaluate how the firm’s Bitcoin holdings contribute to its financial performance. The company’s focus on digital assets has clearly resonated with investors, as Metaplanet’s stock has surged over 600% year-to-date, with a recent 8% spike following the latest Bitcoin acquisition. The firm’s stock has also outperformed Japan’s Nikkei 225 index in recent months.

While Metaplanet’s Bitcoin holdings are still far behind MicroStrategy’s massive 252,000 BTC stash, the Japanese firm is steadily rising as a key player in corporate Bitcoin adoption, earning it the nickname “Asia’s MicroStrategy.” As more companies globally begin to explore Bitcoin for their treasuries, Metaplanet’s bold approach highlights the increasing convergence of traditional finance and digital assets.

Daily Alpha | Update to ord 0.21.2

In more urgent news: Ordinal and Rune founder Casey Ordarmor has urged ord users to update to ord 0.21.2 as soon as possible! Shortly after last week’s 0.21.1 update, a bug was discovered, particularly affecting those sending runes in transactions. The issue, affecting version 0.21.1 and earlier, caused the wallet to mishandle transactions involving multiple runes in a single UTXO (Unspent Transaction Output). Specifically, if a user attempted to send one rune (e.g., rune A), the wallet would mistakenly send an additional rune (e.g., rune B) to the recipient, potentially resulting in loss of assets. The bug has been fixed in version 0.21.2, with no reports of significant losses, but users are urged to upgrade immediately.

Strangely enough, the first sentence of the post appears to be in Dutch for no apparent reason, meaning: “We’ve got a serious problem.”

Daily Alpha | The Election is Heating Up, and BTC Might Like the Outcome

With the American election just over 7 days away, things are heating up. If we are to believe the general population, it seems there is a clear consensus about who will win and what this means for Bitcoin. Over 90% of voters believe Trump is better for Bitcoin.

When you combine this statistic with the current public expectation of the outcome—Trump leading Harris with double the odds on Polymarket—and the increasing momentum that even the mainstream media can no longer deny or downplay, it’s hard to overstate the expected bullishness that may unfold based on this election. The collaboration between Bitcoin proponent Kennedy and the potential immediate firing of Gary Gensler are just two of the things we might look forward to.

Let’s appreciate the energy and excitement we can all feel as this race nears its final week. Bring on the Trump pump!

Daily Alpha | $Tap looks strong after launch

After a very industry-standard listing pump just 5 days ago, $Tap Token seems to be stabilising in a very healthy way. The chart is too young to make any solid predictions, but it’s good to see some initial demand come in so shortly after the launch.

While Tap is not universally loved and respected equally, it certainly has a strong and loyal base of supporters and shows great promise as an expansion of possibilities on Bitcoin L1.

In a recent podcast, the Blockrunners dove into the memecoins in the Tap Protocol, aligning with the current overwhelming popularity of memecoins across the industry.

One of the major ones, $Gib, has set a date for “The Gibbeling” on November 22nd.

Daily Alpha | All you need to know about $TestME

With the hype and attention they’ve been able to gather around their rapid rollout of much-anticipated products and features, their token could be set up for a rare successful launch in these current market conditions. Be sure to track the upcoming updates to stay on top of a potentially highly beneficial airdrop.

Here’s a helpful guide on how to claim some $TestME once the floodgates open, and an army of JPEG and Rune trading degens rush to claim their newest magic internet gift.

Daily Bites

Todays Markets

Ordinals

With a very slow start to the week in terms of volume, we see a very OG top five, with the “old boys club” competing over top volume.

NodeMonkes and Puppet are back in their neck-and-neck competition for the biggest market cap. While NodeMonkes did succeed in taking back the top spot during the weekend, the Puppets are back on top at the time of writing.

Quantum Cats are at #2 in terms of volume today, a spot they rarely see, but very fitting for this OG top lineup. In spots 4 and 5 by volume, OMB and Runestone respectively share the number one spot in terms of price increase with 4.7%, excluding the Honorary Puppets, who quintupled their value with a single 0.2 BTC sale.

All other projects in the top ten lost value on this very slow, low-volume day. Let’s see what will be the next catalyst to bring some attention and much-needed excitement to the Ordinal Collection markets.

Runes

The same lackluster vibe can be observed in Runes, where volume is also at the lower ranges of the average, with Dog taking its familiar top spot by volume, albeit with a near 6% price decrease.

This doesn’t mean we don’t see some significant volatility, though, as we’ve grown accustomed to in the Rune markets. Pups, Gizmo, and BDC are all up nicely today, seemingly consolidating at their new resting levels.

The first one to show some volatility is Pooka with another unstoppable day, up 36.9%. What a beautiful number!

OG RSIC lost nearly 10%, while new AI kids on the block, Cypher Genesis, lost over 20%.

The biggest winner of the day is Bitcoin Bro Bear with an impressive 172% price increase! This fairly recent Rune briefly jumped past its launch pump high from a few days ago putting in a new higher high.

Overall, the Rune market shows a little more excitement than the collection markets, although most significant moves are short-lived and highly unpredictable. Hard times to be a profitable trader in either market.

Todays Opportunities

ExtraOrdinals Whitelisted mints this week

Another week, another list of hyped mints for our ExtraOrdinal giveaway winners! If you won, and you’re feeling bullish, load up those wallets but always stay safe while minting!

Giveaways

Currently, there are no active raffles ongoing. However, more giveaways are expected soon, so join the Discord below and make sure you have notifications on so you don’t miss out when the next ones go live!