Metaplanet stock crashes as Bitcoin treasury companies lose their lustre
1. Metaplanet's stock price has crashed, entering a bear market due to waning demand for Bitcoin treasury companies and profit-taking by investors.#BTCUnbound
2. The stock has dropped 55% from its year-to-date high, reducing its market capitalization from ¥1.14 trillion to ¥638 billion.#BTC
3. Demand for Bitcoin treasury stocks is weakening, with companies like Strategy and MARA Holdings experiencing significant declines.#BTC☀ $BTC
4. Profit-taking has contributed to the stock's fall, as it had previously surged over 15,000% from its lowest level in 2024.
5. Concerns about Metaplanet's valuation persist, with its NAV multiple higher than other Bitcoin treasury companies, and plans to raise $3.7 billion potentially increasing dilution.$BTC
6. Technical analysis indicates a strong bearish trend, with the stock price falling below key moving averages and momentum indicators suggesting further downside.
7. The next target for Metaplanet's share price is ¥720, its highest point in February.
