Metaplanet（MTPL）股票又增加了15％，在东京证券交易所达到1,160个JPY水平

这个大型集会引起了投资者的关注，因为股价现在以447％的溢价交易，仿佛每个BTC的价值为596,000美元

Metaplanet stock price has rallied another 15%, hitting 1,116 JPY levels on the Tokyo Stock Exchange on Friday, further extending its monthly gains to more than 224%. This mega rally in the Japanese stock has caught investors’ attention as the price is now trading at a 447% premium to Bitcoin, as if each BTC was worth $596,154 i.e. more than five times its actual price. Analysts at 10x Research have flashed warning signs in this valuation gap.

Metaplanet股票价格又增加了15％，周五在东京证券交易所达到了1,116个JPY水平，将其每月收益延长至224％以上。日本股票中的大型集会引起了投资者的关注，因为现在的价格正在以447％的溢价交易，仿佛每个BTC的价值为596,154美元，即实际价格的五倍以上。 10倍研究的分析师在此估值差距中闪烁了警告标志。

Is Metaplanet Stock A Risk Bet From Here?

Metaplanet股票是否从这里押注？

While Bitcoin price has managed to add $15,000 to its value, gaining over 16% over the past month, the Japanese stock has seen a mega rally of 224% during the same period.

尽管比特币价格已设法增加了15,000美元的价值，在过去一个月中增长了16％以上，但日本股票在同一时期的大型集会为224％。

Analysts at 10x research noted that the Metaplanet stock was trading as if Bitcoin were valued at $596,154, nearly 5x of its current pricing. Thus, the stock price is trading at a massive 447% premium to BTC.

10倍研究的分析师指出，Metaplanet股票正在交易，好像比特币的价值为596,154美元，几乎是目前价格的5倍。因此，股票价格的交易价格为BTC的447％溢价。

Analysts observed a concerning Net Asset Value (NAV) distortion developing, signaling potential underlying risks. Furthermore, with decreasing volatility and realigning of retail investors’ flows, analysts believe that the stock is now reaching an inflection point. The below image shows a comparison between Metaplanet, Strategy (MSTR), and Bitcoin price on a one-year chart, and the valuation gap that exists.

分析师观察到涉及净资产价值（NAV）的扭曲，信号潜在的潜在风险。此外，随着散户投资者流量的波动性和重新调整的减少，分析师认为，该股票现在已经达到拐点。下图显示了一年图表上的Metaplanet，策略（MSTR）和比特币价格与存在的估值差距之间的比较。

Adding to the market anxiety further is the uncertainty in the Japanese bond market, currency movements, rising yields, etc. In such uncertainties, Metaplanet has attracted further investor attention and demand, as per 10x Research.

根据10倍的研究，Metaplanet在这种不确定性的情况下进一步增加了日本债券市场，货币变动，收益率上升等的不确定性，Metaplanet吸引了进一步的投资者关注和需求。

High Bitcoin Taxes In Japan Raise Demand For Proxies

日本的高比特币税提高了对代理的需求

It is worth noting that Japan, despite being one of the most crypto-friendly nations, taxes Bitcoin as “miscellaneous income,” which can be subject to rates as high as 55%. This is significantly higher than the 20% tax applied to standard capital gains.

值得注意的是，尽管日本是最友好的国家之一，但将比特币征税为“杂项收入”，可能会高达55％。这显着高于对标准资本收益征收的20％税。

Due to this factor, investors have been seeking out Bitcoin proxy bets like Metaplanet rather than directly engaging with BTC. Gains from Metaplanet shares are taxed at the more favorable 20% capital gains rate.

由于这个因素，投资者一直在寻找像Metaplanet这样的比特币代理赌注，而不是直接与BTC互动。 Metaplanet股票的收益以更高的20％的资本利得税率征税。

Moreover, for investors utilizing Japan's NISA (Nippon Individual Savings Account), both capital gains and dividends from Metaplanet stock are entirely tax-exempt. This efficient tax treatment makes Metaplanet an attractive option for Japanese investors seeking exposure to Bitcoin.

此外，对于利用日本NISA（日本个人储蓄帐户）的投资者而言，Metaplanet股票的资本利得和股息都是完全免税的。这种有效的税收处理使Metaplanet成为寻求接触比特币的日本投资者的吸引人选择。

If Bitcoin price manages to rally to fresh all-time highs, breaking past the key BTC resistance of $110K, then the rally in Metaplanet might continue further.

如果比特币的价格设法升级到新鲜的高潮，超越了BTC抵抗力为11万美元，那么Metaplanet中的集会可能会继续进一步。