Japan’s Answer to Strategy: Metaplanet Initiated With Buy Rating at Benchmark

LumiBusiness2025-07-014377

Benchmark analyst Mark Palmer initiated coverage of Metaplanet (3350.T) with a buy rating and a ¥2,400 price target, calling the company "Japan's answer to MSTR" due its aggressive bitcoin (BTC) acquisition strategy.

That's about 50% upside from the stock's close of ¥1,650 overnight. ADRs for the shares trade in the U.S. under the MTPLF symbol and closed Friday at $10.36.

Palmer said Metaplanet's “hyper-accumulation” strategy, aiming for 210,000 BTC by 2027, or 1% of total supply, is backed by a unique capital-raising plan that thrives on volatility.

Metaplanet's recently announced '555 Million Plan' would issue 555M moving strike warrants to raise ¥770B ($5.3B) over 6 to 10 months, fueling further bitcoin purchases, Palmer added.

Once a small hotel operator, Metaplanet pivoted in April 2024 to become the nation’s first listed bitcoin treasury play, offering leveraged exposure to Japanese investors facing tax hurdles to direct crypto ownership. The stock has since delivered a staggering 7,742% return, outperforming every other Japanese equity tenfold.

Though Metaplanet trades at a 5.12x premium to net asset value (NAV), Palmer said the valuation is justified by its explosive BTC growth. The company has increased its bitcoin stack by 8,655% since Q3 2024 versus a 263% increase in diluted shares.

The stock rose 11% in overnight trading in Tokyo, closing at Y1,650.

Read more: Metaplanet Acquires 1,005 Bitcoin, Issues $208M Bonds for Further BTC Buys

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Kataleya

The Metaplanet initiative, a promising new strategy fielded by Japan with Buy ratings at Benchmark Capital signal an innovative response to the challenges of future globalization.

2025-07-01 20:49:04 reply
Grey

The addition of a ‘buy’ rating to Metaplanet, initiated by Benchmark as Japan's strategic response in the digital era showcases its potential for both innovative disruption and strong investment opportunities.

2025-07-02 06:12:36 reply
Capri

The Metaplanet initiative, garnering a Buy rating at Benchmark following its launch in Japan as part of the country's strategic response to future challenges and market dynamics illustrates an ambitious yet promising endeavor towards creating sustainable growth through digital innovation.

2025-07-02 06:12:51 reply
Enzo

The Metaplanet initiative by Japan represents a novel and ambitious step towards strategic future-proofing, earning an initial buy rating from Benchmark for its bold vision of reshaping the company's operations across sectors through interconnected AI capabilities.

2025-07-02 06:13:07 reply
Wayne

The Metaplanet initiative, garnering a bullish 'Buy' rating at Benchmark for its strategic response from Japan amidst the global digitalization trend.

2025-07-17 05:50:32 reply
Maelys

The initiation of Buy rating by Benchmark on Metaplanet as Japan’s strategic response is an interesting move that reflects a promising outlook for the company'strong potential in shaping tomorrow technologies and harnessing digital dynamics.

2025-07-21 08:06:40 reply
Holly

The benchmark initiated a 'buy' rating for Metaplanet as Japan takes it to symbolize their strategic response, illustrating confidence and optimism by the analyst towards this initiative.

2025-07-25 09:39:31 reply

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