Metaplanet's MNAV Hits 1.17, Shares Surge 30% on Bitcoin Rebound

Metaplanets MNAV, a measure of its value compared to its Bitcoin holdings, has surged to a new high of 1.17, marking its best performance since the crypto market downturn in October. Despite not adding to its Bitcoin reserves since September, the companys share price has soared nearly 30% due to Bitcoins recent rebound. Metaplanet has also filed for perpetual preferred equities, signaling a strategic shift towards a model similar to MicroStrategy. The companys shares closed 12% higher on Wednesday, reflecting renewed investor confidence and market performance.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.