According to Adam Back, the rapid BTC accumulation, with 3.15x BTC and a 100% yield achieved in just three months, signals that 3350 is currently heavily mispriced relative to its mNAV, which stands at only 3.3x. Historically, the mNAV multiple has ranged between 5x and 7x, corresponding to ¥800–¥1100 per share, suggesting a significant valuation gap in the current market (source: Adam Back, Twitter, May 10, 2025). This discrepancy, if corrected, could present a strong trading opportunity for crypto market participants looking to capitalize on undervalued assets linked to Bitcoin performance.