{"id":13317,"date":"2025-10-14T12:00:41","date_gmt":"2025-10-14T12:00:41","guid":{"rendered":"https:\/\/www.coinspeaker.com\/fr\/?p=13317"},"modified":"2025-10-14T11:31:57","modified_gmt":"2025-10-14T11:31:57","slug":"metaplanet-valeur-sous-bitcoin","status":"publish","type":"post","link":"https:\/\/www.coinspeaker.com\/fr\/metaplanet-valeur-sous-bitcoin\/","title":{"rendered":"Crise chez Metaplanet : l\u2019entreprise vaut d\u00e9sormais moins que ses r\u00e9serves en Bitcoin"},"content":{"rendered":"<h2>Une capitalisation inf\u00e9rieure \u00e0 ses avoirs en Bitcoin<\/h2>\n<p>Le titre du groupe japonais <strong>Metaplanet Inc.<\/strong>, cot\u00e9 \u00e0 Tokyo, traverse une zone de turbulence in\u00e9dite.<\/p>\n<p>La soci\u00e9t\u00e9, commun\u00e9ment appel\u00e9e le \u201c<a href=\"https:\/\/www.coinspeaker.com\/fr\/metaplanet-japon-adopte-bitcoin\/\" rel=\"\">MicroStrategy du Japon<\/a>\u201d, voit ainsi sa capitalisation boursi\u00e8re sous-tendre d\u00e9sormais \u00e0 peine les avoirs en Bitcoin, signes d\u2019un d\u00e9samour des investisseurs vis-\u00e0-vis des soci\u00e9t\u00e9s \u00e0 th\u00e9matique num\u00e9rique.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"474\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">According to Bloomberg, Japan-listed company Metaplanet Inc. has seen its enterprise value fall below the value of its Bitcoin reserves. Metaplanet adopted a Bitcoin accumulation strategy in April 2024 and once traded at a significant premium to its Bitcoin net asset value. After\u2026<\/p>\n<p>&mdash; Wu Blockchain (@WuBlockchain) <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1978006693066977657?ref_src=twsrc%5Etfw\">October 14, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Le 14 octobre 2025, la valeur globale de Metaplanet (capitalisation boursi\u00e8re plus dette) est tomb\u00e9e en dessous de la valeur de ses r\u00e9serves en Bitcoin, estim\u00e9es \u00e0 <strong>3,4 milliards de dollars<\/strong>. Son indicateur mNAV (market cap + dette \/ valeur nette des avoirs) est tomb\u00e9 \u00e0 <strong>0,99<\/strong>, un niveau historiquement bas.<\/p>\n<div id=\"attachment_13323\" style=\"width: 616px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-13323\" class=\"size-full wp-image-13323\" src=\"https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/10\/mnav-metaplanet.png\" alt=\"\" width=\"606\" height=\"473\" srcset=\"https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/10\/mnav-metaplanet.png 606w, https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/10\/mnav-metaplanet-300x234.png 300w\" sizes=\"auto, (max-width: 606px) 100vw, 606px\" \/><p id=\"caption-attachment-13323\" class=\"wp-caption-text\">Source : <a href=\"https:\/\/metaplanet.jp\/en\/analytics\" target=\"_blank\" rel=\"\">Metaplanet<\/a><\/p><\/div>\n<p>Autrement dit, le march\u00e9 valorise aujourd\u2019hui Metaplanet <strong>moins cher que la somme de ses propres bitcoins<\/strong>.<\/p>\n<p>Cette situation traduit un net recul de la confiance des investisseurs envers les soci\u00e9t\u00e9s de type \u201c<a href=\"https:\/\/bitcointreasuries.net\/\" target=\"_blank\" rel=\"\">Digital-Asset Treasury<\/a>\u201d (DAT), dont le mod\u00e8le repose largement sur la d\u00e9tention de cryptoactifs.<\/p>\n<p>Depuis la mi-juin, la soci\u00e9t\u00e9 Metaplanet a vu sa valorisation plonger d\u2019environ 70 %. Cette chute s\u2019explique par le reflux de l\u2019int\u00e9r\u00eat suscit\u00e9 par les mod\u00e8les \u00e9conomiques orient\u00e9s sur Bitcoin, associ\u00e9 \u00e0 une volatilit\u00e9 \u00e9lev\u00e9e sur les march\u00e9s financiers internationaux.<\/p>\n<div id=\"attachment_13326\" style=\"width: 612px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-13326\" class=\"wp-image-13326 size-full\" src=\"https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/10\/share-price-metaplanet.png\" alt=\"\" width=\"602\" height=\"469\" srcset=\"https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/10\/share-price-metaplanet.png 602w, https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/10\/share-price-metaplanet-300x234.png 300w\" sizes=\"auto, (max-width: 602px) 100vw, 602px\" \/><p id=\"caption-attachment-13326\" class=\"wp-caption-text\">Source : <a href=\"https:\/\/metaplanet.jp\/en\/analytics\" target=\"_blank\" rel=\"\">Metaplanet<\/a><\/p><\/div>\n<h2>Une correction globale du march\u00e9 crypto<\/h2>\n<p>Metaplanet d\u00e9tient approximativement <strong>30 823 BTC<\/strong>, pour une valeur estim\u00e9e \u00e0 <strong>3,4 milliards de dollars<\/strong> au cours actuel.<\/p>\n<p>La chute de son mNAV sous la barre symbolique d\u2019une marque une premi\u00e8re depuis la cr\u00e9ation de la soci\u00e9t\u00e9, confirmant que le titre se n\u00e9gocie d\u00e9sormais <strong>avec une d\u00e9cote par rapport \u00e0 ses r\u00e9serves<\/strong>.<\/p>\n<p>Cette baisse se produit dans un contexte de forte rectification du march\u00e9 des cryptomonnaies.<\/p>\n<p>\u00c0 la suite de la d\u00e9claration du pr\u00e9sident am\u00e9ricain <a href=\"https:\/\/fr.wikipedia.org\/wiki\/Donald_Trump\" target=\"_blank\" rel=\"noopener\">Donald Trump<\/a>, le 10 octobre 2025, sur une taxation de 100% sur les importations de la Chine, pr\u00e8s de <a href=\"https:\/\/www.coinspeaker.com\/fr\/week-end-brutal-crypto-milliards-envoles\/\">19 milliards de dollars ont \u00e9t\u00e9 liquid\u00e9s<\/a> par les investisseurs, entra\u00eenant la restauration des tensions entre les deux puissances du monde et la grande explosion du march\u00e9 num\u00e9rique.<\/p>\n<p>N\u00e9anmoins, quelques <a href=\"https:\/\/www.coinspeaker.com\/fr\/vaneck-bitcoin-644000\/\" rel=\"\">investisseurs demeurent optimistes<\/a>. Pour eux, la valorisation pr\u00e9sente a de quoi \u00eatre une belle opportunit\u00e9 d\u2019investissement, dans la mesure o\u00f9 le cours de l\u2019action est pour le moment d\u00e9corr\u00e9l\u00e9 de la vraie valeur de ses r\u00e9serves en Bitcoin.<\/p>\n<p>L\u2019entreprise vient de geler tout projet d\u2019acquisition de titres pour mieux affiner sa strat\u00e9gie financi\u00e8re, projetant d\u2019\u00e9mettre de nouvelles actions \u00e0 caract\u00e8re privil\u00e9gi\u00e9 et accro\u00eetre encore ses avoirs en Bitcoin.<\/p>\n<h2>Un signal pour le secteur des DAT<\/h2>\n<p>La situation de Metaplanet pourrait <strong>servir de le\u00e7on<\/strong> pour les autres entreprises recevant des cryptomonnaies dans leurs avoirs.<\/p>\n<p>En effet, lorsqu\u2019une entreprise est cot\u00e9e en Bourse \u00e0 une valorisation inf\u00e9rieure \u00e0 la valeur de son actif, le march\u00e9 consid\u00e8re cela comme <strong>un risque de faisabilit\u00e9 de son mod\u00e8le \u00e9conomique<\/strong> d\u2019un point de vue syst\u00e9mique.<\/p>\n<p>N\u00e9anmoins, de nombreux analystes soulignent que l\u2019humeur des intervenants dans les cryptomonnaies continue d\u2019\u00eatre tr\u00e8s d\u00e9pendante du Bitcoin lui-m\u00eame. En revanche, un <strong>potentiel rebond<\/strong> de celui-ci pourrait rapidement rendre Metaplanet attrayante pour les investisseurs dans un avenir proche.<\/p>\n<hr \/>\n<p>Source : <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-14\/metaplanet-s-enterprise-value-sinks-below-bitcoin-holdings\" target=\"_blank\" rel=\"\">Bloomberg<\/a><\/p>\n<hr \/>\n<p>\u00c0 lire aussi :<\/p>\n<ul>\n<li><a href=\"https:\/\/www.coinspeaker.com\/fr\/bitcoin-corrige-fin-du-rallye\/\">Apr\u00e8s son ATH, Bitcoin corrige : fin du rallye ou simple respiration ?<\/a><\/li>\n<li><a href=\"https:\/\/www.coinspeaker.com\/fr\/binance-faux-crash\/\" rel=\"\">Binance paie gros : 283 M$ vers\u00e9s apr\u00e8s un faux crash \u00e0 0 $<\/a><\/li>\n<li><a href=\"https:\/\/www.coinspeaker.com\/fr\/stablecoins-fuite-capitaux-banques-emergentes-dans-le-viseur\/\" rel=\"\">Stablecoins et fuite de capitaux : les banques \u00e9mergentes dans le viseur<\/a><\/li>\n<\/ul>\n<a class=\"infinscroll_next_page_link\" style=\"display:none\" href=\"https:\/\/www.coinspeaker.com\/fr\/bhoutan-id-ethereum\/\" rel=\"prev\">next<\/a>","protected":false},"excerpt":{"rendered":"<p>La soci\u00e9t\u00e9 japonaise Metaplanet vient de franchir un cap symbolique : sa valeur en Bourse est d\u00e9sormais inf\u00e9rieure \u00e0 celle de ses r\u00e9serves en Bitcoin. En chute libre depuis l\u2019\u00e9t\u00e9, l\u2019entreprise subit de plein fouet la m\u00e9fiance des march\u00e9s envers les soci\u00e9t\u00e9s crypto. Pourtant, certains investisseurs voient dans cette d\u00e9cote une occasion en or avant un possible rebond du Bitcoin.<\/p>\n","protected":false},"author":200,"featured_media":13320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,33],"tags":[],"class_list":["post-13317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actu","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Metaplanet vaut moins que ses r\u00e9serves en Bitcoin<\/title>\n<meta name=\"description\" content=\"Metaplanet perd 70 % en Bourse et vaut d\u00e9sormais moins que ses Bitcoins, un signal fort pour les investisseurs crypto.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Je souhaite y apporter mon approche analytique et rationnelle, tout en conservant ma curiosit\u00e9. En dehors de l\u2019\u00e9cran, je lis beaucoup (\u00e9conomie, essais, un peu de science-fiction) et je prends plaisir \u00e0 bricoler. 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