Shareholders who are buying the Metaplanet stocks to gain exposure to Bitcoin are paying a 5x premium, as per a report by 10x Research.
“Today, billions in retail capital are funneled into vehicles that promise Bitcoin exposure, but often at a steep markup. In some cases, investors unknowingly pay a 447% premium, buying Bitcoin at $596,154 while the actual market price is just $109,000,” read the report.
Source: 10xResearch.com
The report notes that companies that buy bitcoin as an investment strategy and have a bitcoin treasury offer the exposure at an expensive markup, whereas just buying bitcoin through an exchange would be much cheaper.
The share prices of Metaplanet and Strategy have been increasing over the past year, a period during which they’ve been accumulating bitcoin.
Source: Yahoo Finance
Metaplanet was currently trading at 1,116 JPY and has grown in share price by 1,565.67% over a 1-year period.
Source: Yahoo Finance
Strategy’s price movement is more stable, growing by 139.31% over a 1-year period. The company has been accumulating BTC in sizeable amounts since 2024 and is the largest corporate holder of Bitcoin.
Metaplanet is a hotel management company based in Japan that was created in 1999, and its current CEO and President is Simon Gerovich. Strategy, formerly known as MicroStrategy, is a business intelligence and AI company that was co-founded in 1989 by Michael Saylor. He was the Chief Executive Officer until 2022 and currently serves as Executive Chairman.