According to PANews, Matrixport's analysis highlights the impact of Japan's high tax rate of 55% on individual Bitcoin holdings, making direct ownership costly. As a result, Metaplanet has emerged as an alternative by indirectly allocating Bitcoin through stocks. Recent tax reforms in Japan have lowered the barriers for corporate Bitcoin holdings, signaling a shift in policy from viewing Bitcoin as a speculative asset to a reserve asset.
Currently, Metaplanet's market net asset value (mNAV) has reached 7.23 times, implying a market valuation of its Bitcoin holdings at $759,000 per coin, which is seven times higher than the current spot price.
