Summary
- It was reported that Metaplanet's stock is overvalued with a 447% premium compared to its Bitcoin holdings.
- Metaplanet's stock has risen 200% this month and a staggering 400% over the past six months.
- Metaplanet ranked first in Japan for the most shorted stocks.
An analysis has emerged that the stock of Metaplanet, regarded as a strategy in Japan, is overvalued.
According to Crypto News on the 27th (local time), 10X Research reported in a report that "Metaplanet's stock has a premium of 447% compared to its Bitcoin holdings," warning that "it is equivalent to paying $596,154 per Bitcoin." It added, "Caution is advised for general investors."
Currently, Metaplanet is trading at 1,116 yen per share. However, it has shown an overheated state compared to its Bitcoin holdings, rising 200% this month alone and a staggering 400% over the past six months. Metaplanet holds 7,800 BTC, worth approximately $850 million.
Meanwhile, according to data released by Hedge Fund Club on April 4, Metaplanet ranked first in Japan for the most shorted stocks.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
