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Details: ht
According to CoinWorld, Benchmark analyst Palmer reiterated a "buy" rating for the Japanese crypto assets company Metaplanet, with a target price of 2,400 yen. The company recently purchased 5,419 Bitcoins at an average price of $116,700 per coin, totaling approximately $632.5 million, setting a new record for a single purchase. After this acquisition, Metaplanet holds a total of 25,555 Bitcoins, rising to become the fifth-largest publicly-held Bitcoin company in the world. Despite the company's stock price dropping 40% recently, analysts believe that the Bitcoin reserve strategy remains viable and are optimistic about its unique advantage in generating recurring income through derivation. The company also announced the establishment of a subsidiary in Miami, with an initial investment of $15 million, focusing on the development of Bitcoin financial products.