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Bloomberg: Metaplanet's market cap has fallen below the value of its bitcoin reserves, with the mNAV ratio falling to 0.99.

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2025-10-14 06:28:40
According to Bloomberg, the corporate market capitalization of Japanese listed company Metaplan Inc. has fallen below the value of its bitcoin reserves.
The company switched to a bitcoin accumulation strategy in April 2024, at one point enjoying a large premium to its bitcoin net asset value. Its share price hit a record high in mid-June this year, but has since plunged about 70%, causing the company's mNAV to drop to 0.99 at one point on Tuesday.
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