Metaplanet has received a "Buy" rating from Benchmark, remaining optimistic about the Bitcoin strategy despite the big dump in stock price.

According to Mars Finance, The Block reported that Benchmark Equity Research reaffirmed its "buy" rating for Japanese Bitcoin vault company Metaplanet, with a target price of 2400 yen, despite its stock price falling 40% in recent months. Metaplanet recently increased its holdings by approximately 633 million USD, acquiring 5419 Bitcoins, bringing its total holdings to 25555 Bitcoins, making it the fifth largest publicly traded Bitcoin holder in the world. The company also established a subsidiary in the United States, focusing on Bitcoin-related financial products.

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