Summary
- Reported that MetaPlanet's stock price surged 12% recently along with the Bitcoin price increase.
- Stated MetaPlanet's mNAV was 1.17, marking its highest in 2 months.
- MetaPlanet maintains the largest bitcoin holdings among Asian companies.
'Japan's version of 'Strategy' MetaPlanet's stock surged recently thanks to the rise in Bitcoin (BTC) prices.
On the 10th (local time), according to CoinDesk, MetaPlanet's stock closed at 471 yen, up 12% on the day. CoinDesk reported, "Bitcoin's price fell to around $80,000 on the 21st of last month and then rose nearly 15%," and "during the same period MetaPlanet's stock rose about 30%."
MetaPlanet's 'stock premium' is also on the rise. MetaPlanet's mNAV (company value relative to bitcoin holdings) was 1.17 as of that day, marking the highest since October 10, when a large-scale liquidation occurred in the crypto derivatives market. MetaPlanet's mNAV fell below 1 on October 15 and dropped to as low as 0.84 last month.
MetaPlanet started as a hotel company in 2010 but transformed into a bitcoin holding company in April last year. MetaPlanet's bitcoin holdings are about 30,820, the largest among Asian companies. CoinDesk said, "MetaPlanet's bitcoin holdings are the fourth among listed companies (worldwide)," and "after buying bitcoin in bulk twice in September, it did not increase its holdings."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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