TechFlow news, June 16 — Matrixport released a chart analysis today stating, "In Japan, the highest tax rate on bitcoin can reach 55%, making the tax burden relatively high for individuals holding it directly. For investors facing regulatory restrictions or unable to self-custody assets, Metaplanet offers an alternative route to gain indirect exposure to bitcoin through equities. Due to its small float and intense market speculation, the stock is highly volatile, with overall price movements resembling early MicroStrategy.
Recently, tax reforms in Japan have lowered the barriers for corporations holding bitcoin, and policy trends are gradually shifting from viewing it as a 'speculative asset' toward recognizing it as a 'reserve asset'.
Currently, Metaplanet’s market value to net asset value ratio (mNAV) has reached 7.23x, implying the market is pricing its held bitcoin at an implied value of $759,000 per coin—seven times higher than the current spot price. This premium is driven not only by speculative buying and limited float but also reflects market expectations that Metaplanet will enhance future bitcoin valuations through its balance sheet."
