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Metaplanet CEO: Holds 40,177 BTC, Third Largest Bitcoin Treasury Company Globally
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According to market news, Metaplanet CEO Simon Gerovich stated that the company's balance sheet holds 40,177 BTC, making it the third largest BTC treasury company in the world. The company generates significant revenue through its BTC yield-generating business, which serves as the foundation for future development.
On June 11, American investment manager Jim Chanos stated that SpaceX's $1.75 trillion IPO valuation is detached from fundamentals and driven by overly optimistic future expectations. Investors are pricing for grand narratives rather than realistic profit prospects, with SpaceX's valuation multiples far exceeding those of Tesla (TSLA.US).
On June 11, Digital Asset (Canton developer) announced the completion of a new round of financing totaling $355 million, led by a16z Crypto. The investment round included participation from various traditional financial and crypto institutions, such as a subsidiary of the Abu Dhabi Investment Authority, Apollo Global Management, BNP Paribas, Castle Securities, CME Ventures, Coinbase Ventures, Polychain, S&P Global, SBI Group, SoFi, and Tradeweb, showcasing a clear dual participation characteristic of 'Wall Street + crypto-native capital.' The company stated that following this financing round, Digital Asset has entered a profitable state. CEO Yuval Rooz noted that the financing has expanded the balance sheet, enhancing the company's financial flexibility and enabling it to pursue mergers and acquisitions more freely, engage in emerging projects, and assist partners in building on-chain financial business systems.
On June 11, CICC Wealth published an article stating that the recent continuous fluctuations in the market have indeed been a test. However, there is no need to be alarmed by the 'changes' in the short-term market, as this may be a necessary proactive cooling by the market itself.
First Change: The technology sector has become overly crowded and needs space to maneuver. You may have noticed that discussions around chips, computing power, and storage have shifted from opportunities to consensus. From a data perspective, valuations in semiconductors, communication equipment, components, consumer electronics, optical electronics, and power have all reached relatively high levels not seen in nearly a decade, with daily trading volumes exceeding 100 billion. As of June 5, communication equipment and components even reached near decade-high percentile levels, with the transaction volume in the semiconductor and communication equipment sectors accounting for over 40% of the entire market. When everyone is crowded into the same sector, any minor disturbance can be amplified into panic.
Second Change: Index reconstruction naturally amplifies volatility. An index is what it is, but it may no longer be the same index as in previous years. After rapid increases in industries such as communication, semiconductors, and batteries, market capitalizations have surged, and index components have been readjusted according to their respective rules, incorporating these leading stocks into their weights, significantly increasing the technological content of the indices. Technology stocks seem to have become the heart of the index, and any fluctuations are likely to trigger index resonance, amplifying volatility.
Third Change: Hot money on leverage comes quickly and leaves quickly. As of June 5, the total margin balance across the market reached 2.89 trillion yuan, surpassing the peak in 2015. The top four industries (semiconductors, communication equipment, securities, and batteries) have financing balances nearing 700 billion yuan, accounting for over 20%. After a sustained market rally, the structure of market funds and trading heat has reached a high range, further amplifying the volatility elasticity of short-term market conditions.
On June 11, according to CNBC, as the nominal inflation rate in the U.S. reached a three-year high year-over-year, Trump stated that he likes inflation. This remark has sparked controversy. Many analysts interviewed emphasized that the current 'K-shaped economy' issue in the U.S. needs to be taken seriously. The K-shaped economy refers to the diverging economic situations of different groups, resembling the two diverging lines of the letter K, where one segment continues to grow while the other continues to weaken. Recently, before fluctuations in chip stocks began, the U.S. stock market had been on an upward trend, seemingly indifferent to inflation. This has resulted in high-income individuals continuing to perform well, but the latest inflation data indicates that the cost of living pressure is further intensifying for a broader segment of middle- and low-income Americans.
On June 11, Oracle's latest financial report revealed that in the fourth fiscal quarter ending May 31, capital expenditures primarily for data center investments reached approximately $16.5 billion, bringing the total annual expenditure to $55.7 billion—significantly higher than Oracle's previous estimate of $50 billion. For fiscal year 2027, the company plans to refinance $40 billion through equity and debt, which includes a previously announced $20 billion stock issuance plan. The entire tech industry is facing new scrutiny regarding the returns of such 'debt-driven, unprecedented scale' blind expansion. According to Bloomberg's U.S. Investment Grade Corporate Bond Index, Oracle carries approximately $117 billion in debt, making it the largest bond issuer outside the finance sector.
On June 11, the European Central Bank will announce its interest rate decision tonight at 20:15, followed by a press conference with Lagarde at 20:45. The market widely expects the ECB to implement a preventive rate hike, raising the three key rates by 25 basis points each.
On June 11, in contrast to yesterday's collective decline, U.S. stock market storage sector stocks rose broadly in pre-market trading. Notably, SanDisk increased by over 5%, Micron Technology by over 4%, Western Digital by over 3%, and Seagate Technology by over 2%.
On June 11, U.S. optical communication stocks collectively rose in pre-market trading. AXT Inc increased by over 6%, Credo Technology and Tower Semiconductor rose by over 5%, MaxLinear was up by over 4%, while Astera Labs, POET Technologies, MaxLinear, Corning, and Coherent all gained over 3%. Viavi Solutions, Lumentum, Applied Optoelectronics, and GlobalFoundries increased by over 2%, and Broadcom rose by nearly 2%.
On June 11, Oracle CEO Clayton M. H. Maguire stated during the earnings call for the fourth quarter and full year of fiscal 2026 that Oracle's cloud infrastructure employs a multi-tenant architecture, allowing for flexible allocation of computing resources to different customers. In this quarter, 59 customers renewed contracts for a total of 35,000 GPUs: 49% of customers completed renewals, covering 92% of GPU resources; the remaining 8% of GPUs were not idle and were signed with new customers during the quarter. Currently, global GPU utilization has reached 97.5%, and the demand in the artificial intelligence market continues to exceed supply.
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