According to The Block, Benchmark analyst Palmer reiterated his "buy" rating on Japanese cryptocurrency company Metaplanet, targeting a price of 2,400 yen. The company just bought 5,419 bitcoins at an average price of $116,700/piece, with a total value of about $632.50 million, setting a new high for a single purchase. After this purchase, Metaplanet's total holdings of bitcoins reached 25,555, making it the fifth largest company in the world to publicly hold bitcoins.
Although the company's share price has recently fallen by 40%, analysts believe that the bitcoin reserve strategy is still viable and optimistic about its unique advantage of generating recurring revenue through derivatives. The company also announced the establishment of a subsidiary in Miami with an initial investment of 15 million US dollars to focus on the development of bitcoin financial products.
Benchmark analysts reiterate their "buy" rating on Japanese cryptocurrency firm Metaplanet
2025-09-25 03:05:10
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