Reference analyst Mark Palmer started Metaplenet’s coverage (3350.T) With a purchase rating and an objective price of ¥ 2,400, calling the company “Japan’s response to Mstr” due to his aggressive Bitcoin
Acquisition strategy.
That is approximately 50% upwards from the closing of the ¥ 1,650 shares during the night. ADR for the trade of shares in the USA under the mtplf symbol and closed Friday at $ 10.36.
Palmer said that the “hyperacumulation” strategy of Metaplenet, with the objective of 210,000 BTC by 2027, or 1% of the total supply, is supported by a unique capital collection plan that thrives with volatility.
The recently announced of Metaplenet, ‘555 million plans’ would issue 555m moves of move in motion to collect ¥ 770b ($ 5.3b) More than 6 to 10 months, feeding more purchases of Bitcoin, Palmer added.
Once a small hotel operator, Metaplenet turned in April 2024 to become the first play of the Bitcoin Treasury of the Nation, offering an leveraged exhibition to Japanese investors who face fiscal obstacles to direct the property of cryptographic. Since then, the action has delivered an amazing yield of 7,742%, surpassing any other Japanese capital ten times.
Although Metaplanet is quoted at an asset value of 5.12x Premium a net (NAV)Palmer said the valuation is justified by its explosive BTC growth. The company has increased its Bitcoin battery by 8,655% since the third quarter of 2024 compared to a 263% increase in diluted shares.
The action increased 11% in the night negotiation in Tokyo, closing to Y1,650.
Read more: Metaplanet acquires 1.005 bitcoin, issues $ 208 million bonuses for more BTC purchases
