Shares of Japanese Bitcoin treasury firm Metaplanet have skyrocketed by an astonishing 7,900% since the former hotel operator adopted a strategic pivot to Bitcoin last year. According to a new report from New York-based research firm Benchmark, this dramatic rise reflects the success of Metaplanet’s corporate Bitcoin strategy. Benchmark has now set a one-year price target of ¥2,400 for the company’s stock.
As of Friday, Metaplanet shares closed at ¥1,564.00, per the company’s analytics page. The firm currently holds 15,555 BTC and plans to significantly increase that number. Benchmark’s report notes that Metaplanet aims to accumulate 210,000 BTC by the end of 2027 — a stake that would represent 1% of all Bitcoin that will ever exist.
Metaplanet’s impressive performance is clearly driven by its aggressive Bitcoin acquisition strategy, but Benchmark notes that Japan’s unique macroeconomic conditions amplify the effectiveness of this approach. One key factor is taxation: while direct gains from holding Bitcoin in Japan can be taxed at rates of up to 55%, profits from indirect exposure—such as through Metaplanet’s stock—are subject to a much lower capital gains tax of around 20.32%.
Additionally, the firm benefits from Japan’s ultra-low interest rates, currently hovering around 0.5%. These conditions make it highly attractive to borrow large sums for investing in high-yield assets like Bitcoin, according to the report.
“We are reiterating our Buy rating on Metaplanet and maintaining our price target of ¥2,400,” Benchmark stated. “We believe the company’s stock is well-positioned for continued growth as it advances its financing strategy and expands its Bitcoin holdings.”
