Is Metaplanet (TSE:3350) Undervalued Following Its Nasdaq Bitcoin Treasury Deal?

Metaplanet (TSE:3350) has drawn fresh attention after backing a planned Nasdaq-listed Bitcoin treasury company that holds 2,100 BTC and $2.5 million in cash in exchange for a controlling equity stake.

See our latest analysis for Metaplanet.

At a share price of ¥228.0, Metaplanet has seen a 1-day share price return of 5.07%. However, its share price return since the start of the year has declined 51.28% and 1-year total shareholder return is down 74.27%, while the 3-year total shareholder return is more than 9x. This suggests that momentum has cooled recently even after earlier very strong gains.

If this Bitcoin-focused move has your attention and you want to see what else is possible in adjacent themes, it is worth checking out 20 cryptocurrency and blockchain stocks

Metaplanet now pairs a sharp pullback with a bold Bitcoin expansion, leaving you to weigh two paths. Is this the moment to step in after the excitement cools, or does it make more sense to wait for a cleaner entry as the new structure settles?

Metaplanet valuation check: what the current price implies

On Simply Wall St's numbers, Metaplanet is trading well below an internal fair value estimate, with the SWS DCF model indicating a value of ¥466.96 per share against the last close of ¥228. This implies a material gap between the current share price and the modelled future cash flow value.