Debt plus preferred as a share of bitcoin value: $ASST 61.2% $MSTR 29.6% $MTPLF 24.2% $SWC 15.9% Strive's new $SATS preferred took it from 47.4% to 61.2%.

Strive $ASST lifted its sats per share 13.9% in one week, to 33,066. Bitcoin: 36,818 → 43,000 Shares: +2.6% Bought: 6,182 bitcoin for $511.4 million The first week after its $700 million $SATS preferred closed.

Capital Group now holds 149,203,584 Metaplanet $MTPLF shares, 10.90% of the company. In bitcoin terms, that stake stands for 4,796 of Metaplanet's 44,000.

Fidelity Digital Assets counts 135,979 bitcoin bought with perpetual preferred stock from treasury companies such as Strategy $MSTR and Strive $ASST, as of 5 October. That is more than 0.5% of all bitcoin.

Strive $ASST holds 36,818 bitcoin. Tomorrow $SATS settles: about $630 million expected before costs, with no new common shares. Sats per share on 16 October: 29,039.

Super League $SLE holders approved the Superplanet deal. For Metaplanet $MTPLF holders the test is Superplanet's first raise: stock sold above its bitcoin adds bitcoin per share. Metaplanet's own EV mNAV on 18 October: 0.89x.

Capital B $ALCPB in 2026: Bitcoin held: +25.3%, to 3,538 Fully diluted shares: +22.6% Bitcoin per share: +2.2%

"MSCI should be a mirror of the market, not an arbiter of it," Michael Saylor wrote in August. MSCI adopted the rules anyway. Strategy $MSTR and Metaplanet $MTPLF are potential deletions; the final list comes 11 November.

Metaplanet $MTPLF bought back 73,981,400 shares at ¥261 on 14 October, below the value of its bitcoin (0.83x EV mNAV). The same 44,000 bitcoin, fewer shares: sats per diluted share +5.2%, to 3,085.