I have two important updates to share with you today as we continue to build Metaplanet into a global financial platform rooted in Bitcoin. From the beginning, our strategy was never simply to accumulate Bitcoin. Our objective has been to build the leading Bitco

From the beginning, our strategy was never simply to accumulate Bitcoin. Our objective has been to build the leading Bitcoin financial company in Asia and, over time, become one of the leading Bitcoin financial institutions in the world.

Over the past year, we have worked to execute that strategy with discipline and speed: growing our Bitcoin reserves, expanding our operating businesses, broadening our access to capital, and laying the foundation for a scalable credit platform built around Bitcoin.

The pending Superplanet transaction, the development of Metaplanet Securities, the expansion of our distribution capabilities, and the continued growth of our Bitcoin holdings are all components of a unified long-term strategy.

Here are the latest steps on this journey:

- First, in the third quarter we executed a sale and repurchase of Bitcoin that demonstrated the liquidity of our Bitcoin reserves and increased our overall Bitcoin position.

- Second, we are launching a Net Interest Income Strategy designed to create recurring income streams and lower our effective cost of capital, supporting the next phase of our growth.