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Metaplanet Inc. is a shell company funded by Bailey's VC UTXO Management. He put Mark Yusko and Dylan LeClair as front on the board. They then bought bitcoin as "reserve" and promoted this as headline in Bitcoin Magazine. Every time they buy only a few BTC the headline it and all other media pick it up and mulitply this "news". That way they drove up share price masively and profited from selling. It's a calculated scam to fill their bags with bitcoin AND cash. A few days ago the "sensational" news that Metaplanet acquired the Bitcoin Magazine rights for Japan so they can control the news in Japan as well and pull in even more investors to scam.

Metaplanet is a front with no products or other economic activity. It came out of nothing, I guess they just liked the name. Check their investors information, before 2024 all in Japanese and boring stuff, after they went in suddenly bitcoin purchases.

https://metaplanet.jp/#team-strategic-investors

doublebubble 1y ago

Damn I can't believe they would be so mean 😭 Tricking Japanese people when they're down???

And especially, why would Dylan LeClair do that? He's a prominent influencer. Although I always thought he could be a 3-letter agency guy ...

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Discussion

btc21million 1y ago

I don't think it's illegal though but then why not do the same setup in the US and basically copy Saylor's strategy. Reason being the SEC I guess. I think it's dishonest and immoral or in a grey zone at least. It's a perpetual money printer for them. Buy BTC > increased share price > borrow against the shares > buy more BTC > ∞ (inbetween sell shares with huge profit > buy BTC for themselves and also owning a company worth hundreds of millions)

doublebubble 1y ago

🤔