Metaplanet Value Falls Below Bitcoin Hoard as DAT Trade Unravels
The article reports that Metaplanet Inc., a digital-asset treasury firm, has seen its enterprise value fall below the value of its Bitcoin reserves. This highlights the diminishing investor appetite for such companies globally. The article suggests that the decline in Metaplanet's value reflects the broader trend of waning interest in the digital-asset industry, particularly in the wake of the unraveling of the DAT (Digital Asset Treasury) trade. The article does not provide further details on the specifics of the DAT trade or the factors contributing to the diminished investor appetite. However, it suggests that the situation at Metaplanet is emblematic of the broader challenges facing the digital-asset industry as a whole.
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