Japanese investment firm Metaplanet's Bitcoin premium has surged to nearly $600,000 per coin, with stockholders paying over five times the actual price for Bitcoin.
Metaplanet, Asia's largest corporate Bitcoin holder and the 10th largest globally, aims to acquire 21,000 BTC by 2026.
Despite the excessive premium, Bitcoin treasury firms like Metaplanet play a crucial role in Bitcoin's adoption, according to Adam Back, co-founder and CEO of Blockstream.
Other Bitcoin treasury firms, such as MicroStrategy, are also trading at significant markups, potentially impacting the NAV per share over time.