Bloomberg: Metaplanet's market capitalization has fallen below the value of its Bitcoin reserves, and the mNAV ratio has dropped to 0.99.

According to Mars Finance, the market capitalization of the Japanese listed company Metaplanet Inc. has fallen below its Bitcoin reserve value. The company adopted a Bitcoin accumulation strategy in April 2024 and once 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 subsequently experienced a big dump of about 70%, causing the company's mNAV to drop to 0.99 on Tuesday.

BTC-3.67%
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