Metaplanet’s Market Value Drops Below Bitcoin Holdings

Metaplanet has entered uncharted territory as its market value plummeted below its Bitcoin holdings. This significant dip, marked by a mNAV ratio falling below 1.0 for the first time on record, signals growing investor apprehension surrounding the company’s business model and debt structure. While Metaplanet boasts billions in digital asset holdings, a recent stock price decline of 75%, to just 467 yen per share, alongside a temporary halt in Bitcoin purchases since September 30th, further underscores this trend. These actions coincide with a drop in investor confidence about the company’s long-term viability.