Benchmark Buys Metaplanet Despite 40% Plunge: Faith Over Folly? 🚀💣

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Benchmark, that paragon of foresight, has once again declared Metaplanet a “Buy,” even as its stock plummets 40%. Bitcoin treasury strategies and institutional adoption, they say, are the future. Or perhaps just the future of plausible deniability.

 

Metaplanet, that Japanese bitcoin oracle, has seen its stock nosedive 40% in a month-yet Benchmark Equity Research clings to its “Buy” rating like a koala to a eucalyptus tree. Analyst Mark Palmer, armed with a crystal ball and a spreadsheet, has set a target price of 2,400 yen by 2026. For context, the stock currently trades at 542 yen-though “trades” is a generous term when the market is more chaos than clarity.

Palmer’s report gushes about Metaplanet’s “recurring income” from bitcoin holdings. A bold claim, considering the company’s treasury strategy resembles a magician’s act-except the rabbit is a volatile asset and the audience is panicking.

Stock Decline and Short-Seller Shenanigans

Metaplanet’s 40% stock drop has become a circus, complete with short-sellers juggling accusations and investors clutching their portfolios like life rafts. Benchmark, however, insists these concerns are “unfounded”-a word that, in finance, often precedes a dumpster fire.

Metaplanet might’ve taken a 40% hit in stock price lately, but Benchmark is still riding the bullish wave 🚀. They’ve doubled down on their Buy rating, pointing to Metaplanet’s clever use of bitcoin holdings to generate recurring income through derivatives.

Despite the dip,…

– Seven Crypto (@SevenWinse)

Palmer, ever the optimist, claims the short-sellers’ “premature and unwarranted” doom is just sour grapes. After all, Metaplanet was Japan’s top-performing stock last year and has seen a 56% year-to-date rally. One might call it a phoenix… if it weren’t currently on fire.

“Suggestions that bitcoin treasury strategies are unraveling and that Metaplanet is running out of steam are premature and unwarranted,” Palmer wrote, as if narrating a TED Talk for a room full of monkeys with PhDs.

Bitcoin Treasury Strategy: Still Standing?

Palmer argues Metaplanet’s “fundamental strategy” of hoarding bitcoin as a scarce asset and inflation hedge is… well, fundamental. Meanwhile, institutional adoption of bitcoin is “deepening,” a phrase that sounds impressive until you realize it might just mean “some banks now own crypto.”

The firm’s “recurring income” from derivatives is a neat trick, assuming Bitcoin doesn’t decide to moonwalk into the abyss. As long as adoption curves keep rising (or at least pretending to), Palmer’s faith remains unshaken. Or perhaps it’s just well-rehearsed.

Major Bitcoin Acquisition and U.S. Subsidiary Shenanigans

Metaplanet recently splurged on 5,419 BTC ($632.5 million), swelling its holdings to 25,555 BTC-making it the fifth-largest corporate bitcoin hoarder on the planet. One might call it prudent investing… or a very expensive bet on a digital Monopoly token.

Metaplanet has acquired 5419 BTC for ~$632.53 million at ~$116,724 per bitcoin and has achieved BTC Yield of 395.1% YTD 2025. As of 9/22/2025, we hold 25,555 acquired for ~$2.71 billion at ~$106,065 per bitcoin.

– Simon Gerovich (@gerovich)

To further cement its crypto legacy, Metaplanet launched a U.S. subsidiary in Miami, Metaplanet Income Corp., funded with $15 million. This new venture will peddle bitcoin derivatives, all while keeping its core holdings separate for “governance and transparency.” A noble goal, assuming the subsidiary doesn’t collapse under the weight of its own hype.

Benchmark, ever the cheerleader, remains bullish. They argue Metaplanet’s strategic acquisitions and subsidiary are “positioning it for long-term success.” Or, as the rest of us might say: “Here’s hoping the house of cards doesn’t topple before Q4.”

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2025-09-26 06:42