Reference analyst Mark Palmer initiated the cover of Metaplanet (3350.t) With a purchase note and a price target of ¥ 2,400, calling the company “Japan response to MSTR” due to its aggressive bitcoin
Acquisition strategy.
This represents around 50% of the stock fence of ¥ 1,650 overnight. The ADRs for actions are negotiated in the United States under the MTPLF symbol and closed $ 10.36 on Friday.
Palmer said that Metaplanet’s “hyper-accumulation” strategy, targeting 210,000 BTC by 2027, or 1% of the total supply, is supported by a single capital raising plan that prosperous on volatility.
The “555 million plan” plan “recently announced by Metaplanet would publish 555 million strike mandates to increase ¥ 770b ($ 5.3 billion) Over 6 to 10 months, fueling other Bitcoin purchases, added Palmer.
Once a small hotel operator, Metaplanet pivoted in April 2024 to become the first Bitcoin cash game listed in the country, offering a leverage exposure to Japanese investors faced with tax obstacles to direct the possession of cryptography. The title has since given an astonishing yield of 7,742%, outclassing all other Japanese equity.
Although Metaplanet is negotiated at a 5.12x bonus at the value of the net assets (Nav)Palmer said the evaluation is justified by its explosive BTC growth. The company has increased its Bitcoin battery by 8,655% since the third quarter of 2024 against an increase of 263% of the diluted shares.
The stock increased by 11% when negotiating overnight in Tokyo, closing at Y1,650.
Find out more: Metaplanet acquires 1,005 bitcoin, issues $ 208 million obligations for other BTC purchases
