₿ Treasury Analytics
Tokyo Stock Exchange · 3350 · JPY

Metaplanet

Holdings as of 30 Sep 2026 · prices as of 23 Oct 2026 · capital structure as of 30 Sep 2026

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Holdings & valuation
BTC holdings
44,000 ₿
Last purchase 1,000 ₿ · 30 Sep 2026
BTC NAV
¥559.58B
BTC price ¥12.72M
Market cap
¥397.53B
31,258 ₿ · 1,500,108,824 fully diluted shares
Enterprise value
¥520.91B
40,959 ₿
= Market cap ¥397.53B + debt ¥110.12B + pref. ¥23.61B − cash ¥10.35B
Share
Share price
¥265.00
2,084 sats
Sats per share
2,933
CEBE per share
2,232
= (BTC − senior claims) / fully diluted shares, in sats
Multiples
mNAV
0.71x
Price at 1 mNAV ¥373.03
= Market cap ¥397.53B / BTC NAV ¥559.58B
Enterprise mNAV
0.93x
Price at 1 Enterprise mNAV ¥284.67
= Enterprise value ¥520.91B / BTC NAV ¥559.58B
CEBE
0.93x
Price at 1 CEBE ¥283.88
= Market cap ¥397.53B / (BTC NAV ¥559.58B − senior claims ¥133.73B)
Capital structure
Cash
¥10.35B
814.12 ₿
Debt
¥110.12B
8,659 ₿
Convertible debt
¥0.00
0 ₿
Preferred
¥23.61B
1,856 ₿ · liquidation value
Senior claims
¥133.73B
10,515 ₿ · 23.9% of BTC NAV
= debt ¥110.12B + pref. ¥23.61B

Market cap vs. capital structure

In BTC, latest day · mNAV compares the market cap with the BTC holdings, enterprise mNAV with the net assets (BTC + cash − senior claims; EV mNAV = 1 + (market cap − net assets) / BTC), CEBE with BTC minus senior claims

Bitcoin holdings

Total BTC and BTC purchased per month

Price vs. BTC per share

Share price and BTC holdings per share, in sats

Valuation multiples

mNAV, enterprise mNAV and CEBE · dotted variants in the legend

Capital structure

Senior claims and cash vs. BTC holdings, in BTC

Share price

In JPY, with the share price at which mNAV, enterprise mNAV and CEBE would be 1, and volume

BTC efficiency

CEBE per share vs. BTC holdings with fitted efficiency e (CEBE per share = a · BTC^(1 − 1/e))

Months to cover

Months until sats per share reached that day's price in sats (empty where not reached yet)

All data

612 days × 30 metrics · loaded and calculated values per day Download CSV