Metaplanet Stock Jumps 12% as mNAV Climbs to Highest Level Since Crypto Crisis
Metaplanet's stock rose 12% on December 10, 2025, closing at 471 yen. This increase corresponded with its market net asset value (mNAV) climbing to 1.17, marking its highest level since the crypto crisis liquidation on October 10.
mNAV had traded below 1 from October 15 through early December, bottoming at 0.84 in November. Since the end of September, Metaplanet has not made new bitcoin purchases, having previously bought 5,268 BTC and 5,419 BTC.
Bitcoin's price increased approximately 15% from its low on November 21, and Metaplanet stock rose about 30% over the same period. The company's enterprise value is estimated at around $3.33 billion, with bitcoin holdings of 30,823 BTC valued at approximately $2.86 billion.
Market capitalization stands at approximately $3.43 billion, with debt outstanding near $304 million. Metaplanet has filed for perpetual preferred equities as it advances toward a strategy similar to MicroStrategy's approach.
