PANews reported on June 16 that according to Matrixport analysis, due to Japan's high 55% tax rate on Bitcoin, the cost of individuals directly holding Bitcoin is high, and Metaplanet's indirect allocation of Bitcoin through stocks has become an alternative path. Recently, Japan's tax reform has lowered the threshold for companies to hold Bitcoin, and the policy has gradually shifted from "speculative assets" to "reserve assets."

Currently, Metaplanet's market-to-book value (mNAV) ratio has reached 7.23 times, and the implied market valuation of its bitcoins is as high as US$759,000 per coin, far exceeding the current spot price by 7 times.