Benchmark analyst Mark Palmer initiated protection of Metaplanet (3350.T) with a purchase score and a ¥2,400 value goal, calling the corporate “Japan’s reply to MSTR” due its aggressive bitcoin
acquisition technique.
That is about 50% upside from the inventory’s shut of ¥1,650 in a single day. ADRs for the shares commerce within the U.S. below the MTPLF image and closed Friday at $10.36.
Palmer mentioned Metaplanet’s “hyper-accumulation” technique, aiming for 210,000 BTC by 2027, or 1% of complete provide, is backed by a singular capital-raising plan that thrives on volatility.
Metaplanet’s not too long ago introduced ‘555 Million Plan’ would subject 555M shifting strike warrants to lift ¥770B ($5.3B) over 6 to 10 months, fueling additional bitcoin purchases, Palmer added.
As soon as a small resort operator, Metaplanet pivoted in April 2024 to grow to be the nation’s first listed bitcoin treasury play, providing leveraged publicity to Japanese buyers dealing with tax hurdles to direct crypto possession. The inventory has since delivered a staggering 7,742% return, outperforming each different Japanese fairness tenfold.
Although Metaplanet trades at a 5.12x premium to web asset worth (NAV), Palmer mentioned the valuation is justified by its explosive BTC development. The corporate has elevated its bitcoin stack by 8,655% since Q3 2024 versus a 263% enhance in diluted shares.
The inventory rose 11% in in a single day buying and selling in Tokyo, closing at Y1,650.
Learn extra: Metaplanet Acquires 1,005 Bitcoin, Points $208M Bonds for Additional BTC Buys
