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Metaplanet's stock price has dropped by over 50% since mid-June, and the financing "flywheel" is now failing.
BlockBeats News, August 31st: According to Bloomberg, the stock price of the Japanese Bitcoin treasury company Metaplanet has fallen by over 50% since mid-June, and its financing "flywheel" is failing. On August 27th, Metaplanet announced its plan to raise $881 million to increase its Bitcoin holdings in September and October. The financing will be raised through an international stock issuance, with an expected net fundraising of approximately 130.334 billion yen (about $881 million), intended for:
· Bitcoin purchase: 123.818 billion yen ($837 million)
· Bitcoin financial operations: 6.516 billion yen ($44 million)
In addition, Eric Trump, the son of former U.S. President Donald Trump, will attend the shareholder meeting of the Japanese Bitcoin financial company Metaplanet Inc on September 1st.
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