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Metplanet valued at three-month high relativ
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Metplanet valued at three-month high relativ
Metplanet valued at three-month high relative to bitcoin holdings after MSCI decision
Metplanet valued at three-month high relative to bitcoin holdings after MSCI decision
Select bitcoin treasury equities gained after MSCI removed near-term index exclusion risk.
By James Van Straten|Edited by Sheldon Reback
Jan 7, 2026, 10:01 a.m.
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Metaplanet enterprise value relative to bitcoin holdings (Metaplanet)
What to know:
- Metaplanet’s multiple to net asset value (mNAV) rose to around 1.25, its highest level since before the October liquidation crisis.
- The move followed MSCI’s decision not to exclude digital asset treasury companies from its global indexes.
- Strategy (MSTR) rose around 5% in pre-market trading while price action across other bitcoin treasury companies remained relatively muted.
Digital asset treasury company Metaplanet (3350) rose 4% in Tokyo on Wednesday after index provider MSCI decided not to exclude firms building cryptocurrency stockpiles from its global indexes.
Metaplanet is now up 20% since the start of the year. The rally means company is valued at a premium to its bitcoin holdings, with a multiple to net asset value (mNAV) of around 1.25, the highest level since before October's plunge in crypto prices, according to the company’s dashboard.
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The decision ended months of uncertainty around index eligibility and lifted U.S. peers when the announcement was made after regular trading hours on Tuesday. Strategy (MSTR), the largest corporate holder of bitcoin BTC$91,801.68 was recently 5% higher in pre-market trading. Other digital asset treasury companies rose to a lesser extent.
Metaplanet shares closed at 531 yen ($3.4), having bottomed near 340 yen on Nov. 18. The company holds 35,102 BTC, making it the fourth-largest publicly listed bitcoin treasury company globally.
MSCI’s announcement removes a near term overhang for crypto treasury stocks, particularly those already included in major indexes. However, the index provider also signaled that a broader consultation on non operating and investment oriented companies is forthcoming, indicating that regulatory and index related risks for bitcoin treasury firms have been deferred, not eliminated.
Bitcoin NewsMetaPlanetMSCIMicroStrategy
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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
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Crypto traders can now take leveraged bets on silver via Binance Futures
Binance Futures will launch silver perpetual contracts on Wednesday, offering up to 50x leverage on silver priced in U.S. dollars per troy ounce.
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