Metaplanet Shares Surge as Index Exclusion Threat Lifted

Metaplanet JP3481200008

Investors in Japan's prominent Bitcoin-focused firm, Metaplanet, received a significant boost this week. A major overhang on the stock has been removed following a crucial announcement from index provider MSCI, fueling a substantial price recovery after a volatile period.

The key development emerged Wednesday in Tokyo, where MSCI clarified its stance. The index compiler stated it will not, for the time being, exclude companies that hold digital assets as a core treasury strategy from its global benchmarks. This confirmation eliminated a substantial source of uncertainty that had recently made investors hesitant.

The market's response was immediate and positive. Metaplanet shares advanced to 531 yen, extending their year-to-date gains to more than 20%. A notable shift is visible in the stock's valuation: it now trades at a 25% premium to the net asset value (NAV) of its Bitcoin holdings. This marks a sharp reversal from the discounts observed during the market turbulence of November.

Aggressive Bitcoin Accumulation Continues

Driving the bullish sentiment is the company's unwavering accumulation strategy. Metaplanet confirmed it invested approximately $451 million USD into Bitcoin during the fourth quarter of 2025 alone. With a total treasury holding of 35,102 BTC, the firm now ranks as the world's fourth-largest publicly traded corporate holder of the cryptocurrency.

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This strategy, however, is not without its current financial pressures. The average purchase price across all acquisitions sits near $102,000 per coin. With Bitcoin currently trading around $92,000, the company is carrying unrealized losses of nearly 14% on its total position.

Long-Term Ambitions Remain Unchanged

Management appears undeterred by short-term price volatility. Its publicly stated goal remains exceptionally ambitious: to acquire 210,000 Bitcoin by 2027, which would equate to one percent of the global supply. To finance this plan, the board has already approved new capital measures designed to facilitate direct investment from foreign investors.

While MSCI noted that further consultations regarding investment-focused companies will follow, the immediate risk of an index deletion has been averted. This clearance allows Metaplanet to proceed with its expansion plans and capital-raising efforts without that specific near-term obstacle.