Metaplanet valued at three-month high relative to bitcoin holdings after MSCI decision
Metaplanet shares rose after MSCI decided not to exclude firms holding crypto from its global indexes.Summary
Digital asset treasury company Metaplanet (3350) saw its shares increase by 4% in Tokyo following the announcement that index provider MSCI would not exclude companies building cryptocurrency stockpiles from its global indexes. This decision ended months of uncertainty, causing Metaplanet's year-to-date rally to exceed 20%. Consequently, the company is now valued at a premium to its bitcoin holdings, achieving a multiple to net asset value (mNAV) of approximately 1.25, the highest level since before the October crypto price plunge. The announcement also positively impacted U.S. peers like MicroStrategy. Metaplanet, which holds 35,102 BTC, closed at 531 yen ($3.4). While the immediate risk is removed, MSCI signaled a forthcoming broader consultation on non-operating and investment-oriented companies, suggesting that index-related risks for bitcoin treasury firms are deferred, not eliminated.
(Source：CoinDesk)