Bloomberg: Metaplanet's market capitalization 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 shifted to an accumulating Bitcoin strategy in April 2024, and at one point enjoyed a significant premium relative to its Bitcoin net asset value. Its stock price hit an all-time high in mid-June this year, but has since experienced a big dump of about 70%, causing the company's mNAV to drop to 0.99 on Tuesday.

BTC-2.4%
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