Metaplanet’s Bitcoin Accumulation Strategy Is Not Paying Off: Report

Tokyo-listed Metaplanet Inc is facing mounting pressure as its ambitious Bitcoin strategy appears to have lost investor confidence. The company’s enterprise value has fallen below the worth of its Bitcoin reserves, according to a recent report by Bloomberg. The company began purchasing Bitcoin in April 2024 as a hedge against Japan’s long-standing economic challenges, like soaring public debt and a weakening yen. It drew inspiration from MicroStrategy’s high-profile playbook and turned Bitcoin into a stra ...