Metaplane's market value has fallen below the value of its Bitcoin reserves, and the MNAV ratio has dropped to 0.99
According to online reports, according to Bloomberg News, the corporate market value of Japanese-listed company Metaplane Inc. has fallen below the value of its Bitcoin reserves. The company turned to a bitcoin accumulation strategy in April 2024, and once enjoyed a significant premium to the value of its bitcoin net asset. Its share price hit a record high in mid-June, but has since plunged about 70%, causing the company's net asset value per share (MNAV) to fall to 0.99 on Tuesday.
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