Benchmark raises Metaplanet price target by 46% to ¥2,400

Benchmark has set a price target of ¥2,400 ($16.7) for Metaplanet, 46% higher than its current price of ¥1,644. The Japanese company shifted from the hotel business to a Bitcoin treasury model in April 2024 and now holds 13,350 BTC, making it the fifth-largest public holder of Bitcoin globally. Metaplanet recently established a U.S. subsidiary and approved a $5 billion capital injection to support its global expansion. Its stock has surged 5,753% since April 2024. Benchmark warned of risks including Bitcoin price volatility, shareholder dilution, and regulatory challenges in both Japan and the U.S.