Bloomberg: Metaplanet's market value has fallen below the value of its Bitcoin reserves, with the mNAV ratio dropping to 0.99

ChainCatcher news, the market capitalization of the Japanese listed company Metaplanet Inc. has fallen below the value of its Bitcoin reserves.

The company adopted a Bitcoin accumulation strategy in April 2024 and once enjoyed a significant premium relative to its net asset value in Bitcoin. Its stock price hit an all-time high in mid-June this year, but has since plummeted by about 70%, causing the company's mNAV to drop to 0.99 on Tuesday.