Journalist
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Metaplanet has staged a bullish revival following its recent capital plans. According to Bitcoin [BTC] treasury company analyst Hermes Lux and Metaplanet shares MPJPY could rise about 1,500% by the end of 2027.
For 2026, the stock has an upside potential of 402%. Lux said the price targets are achievable provided BTC appreciates 40% annually and Metaplanet scales its holdings to 100,000 BTC by 2026 and doubles it to 210,000 BTC by 2027.
Source: Hermes Lux/X
Metaplanet shares recover in December
There are currently three Metaplanet stocks on the market. The MPJPY is a new supported offering in the US OTC (over-the-counter) markets.
The MTPLF was the first, but unbacked, offering on the US markets, and the third and first stock, 3350, is being offered on the Tokyo Stock Exchange.
Notably, the three stocks have seen a significant recovery of 6%-28% over the past month, while BTC suffered a rebound of less than 1%.
Source: Google Finance
In fact, Strategy’s MSTR fell 12% over the same period, further reinforcing renewed bullish sentiment for the Japan-based Bitcoin Treasury company.
The renewed interest followed Metaplanet’s recent shareholders’ meeting. approval of capital increase plans, including a reserve to cover dividends from preference shares.
Source:
Like Strategy, Metaplanet uses the sale of shares (including preferred shares) and credit for BTC purchases. However, the Japanese company was also willing to launch aggressive share buybacks without selling its BTC holdings.
Metaplanet mNAV recovers
Adam Livingston, another BTC analyst, echoed Lux’s prospects. He viewed Metaplanet’s new plans as ‘incredible catalysts’ for the stock in 2026.
After this week’s update, mNAV (multiple tracking relative value of crypto assets to enterprise value) recovered to 1.25x, up from a low of 0.93x amid broader, weaker sentiment in Q4 2025.
But for analysts ZynmNAV could rise to 1.4x and 3-4x during BTC’s next explosive run. He added that this would be “extremely bullish” for Metaplanet in the coming years.
“You could easily improve on this by taking the mNAV well above 1.4 and the Bitcoin price significantly higher. I’m still hopeful that the mNAV will expand to 3-5 in times of euphoria”
Even Norway was optimistic on Metaplanet. The Ministry of Finance has already done that increased $400 million, indicating likely aggressive BTC buying in 2026.
At the end of 2025, Metaplanet stopped new BTC purchases after exceeding its target of 30,000 BTC. It currently holds 30,823 BTC and aims to add 70,000 BTC by 2026.
Source: Metaplanet
Final thoughts
- According to analysts, Metaplanet shares could explode by 400% by 2026 and as much as 15x by 2027.
- The company approved new capital plans that could accelerate BTC purchases starting in 2026.