Metaplanet Stock Jumps 12% as mNAV Climbs to 1.17, Highest Level Since Crypto Crisis

Core Insights - Metaplanet's multiple to net asset value (mNAV) has reached 1.17, the highest since the crypto crisis began on October 10 [1] - The company holds 30,823 BTC valued at approximately $2.86 billion, making it the fourth largest publicly traded company in terms of bitcoin holdings [2] - Metaplanet's enterprise value is around $3.33 billion, with a market capitalization of $3.43 billion and outstanding debt of about $304 million [2] - The mNAV had previously traded below 1, dropping to as low as 0.84 in November, but has since improved as bitcoin prices have risen [3] - The company has not increased its bitcoin holdings since late September, following two significant purchases [3] - Metaplanet's share price has increased nearly 30% since bitcoin's low near $80,000 on November 21 [3] - The company has filed for perpetual preferred equities, aligning its strategy with that of other firms like Strategy [4] - Metaplanet shares closed 12% higher at 471 yen on Wednesday [4]