Metaplanet stock jumps 12% as mNAV rises to 1.17 on BTC rebound
Metaplanet's stock surged 12% as its multiple to net asset value (mNAV) reached 1.17, the highest since the October crypto crisis.Summary
Metaplanet's multiple to net asset value (mNAV), which compares its bitcoin holdings to enterprise value, climbed to 1.17, marking its highest level since the crypto liquidation crisis began on October 10th. The company currently holds 30,823 BTC, valued around $2.86 billion, against an enterprise value of approximately $3.33 billion. This rise follows a significant rebound in Bitcoin's price, which gained about 15% since bottoming near $80,000 on November 21st, during which time Metaplanet's share price increased by almost 30%. The company's mNAV had previously traded below 1, hitting a low of 0.84 in November. Metaplanet is also pursuing a strategy similar to MicroStrategy (MSTR) and filed for perpetual preferred equities, with its shares closing 12% higher on Wednesday at 471 yen.
(Source：CoinDesk)