Metaplanet Plans $3.4B BitBonds Push as mNAV Slips
Sub-1.0 mNAV means the market values Metaplanet below its BTC stack, making equity issuance mathematically dilutive. The BitBonds pivot trades that tax for interest-rate exposure on the next leg.
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Sub-1.0 mNAV means the market values Metaplanet below its BTC stack, making equity issuance mathematically dilutive. The BitBonds pivot trades that tax for interest-rate exposure on the next leg.
The brokerage partnership is a stepping stone, not the headline: Metaplanet is laying groundwork for 4–6% bitcoin-backed bonds that may eventually settle on-chain via stablecoin.