📍The wave of Asian businesses shifting their balance sheets to Bitcoin

📌 In just the first 6 months of 2025, the number of listed companies in Asia holding BTC surged from 70 to 134 (, holding over 244K BTC), making Bitcoin treasury the hottest investment trend in the region. Notable cases: Metaplanet (Japan) wants to raise $5.4B to acquire 210K BTC; Top Win (Taiwan), Quantum Solutions (Japan), K Wave Media (South Korea) are all raising funds to copy the Strategy.

📌 ETFs in these countries have not been approved → investors use the shares of these companies as a proxy to hold Bitcoin and enjoy better tax benefits. ( crypto is taxed at 55% in Japan, while shares are only 20% ).

📌 However, if the price of BTC falls sharply, this group of companies may become "force sellers" due to leverage, pushing the market into a sell-off spiral. The more this model spreads, the more $BTC will continuously witness short squeezes as the supply of $BTC is more scarce than ever.