Metaplanet, a company focused on Bitcoin accumulation, has lost over half of its market value in the last three months. We explore the reasons and potential recovery paths.
Sharp Drop in Metaplanet Shares
Since mid-June, Metaplanet's shares have fallen by 54%, leading to significant losses after an initial rise of over 400%. This drop erases gains driven by aggressive Bitcoin acquisitions and high market activity.
Capital Raising Plans
On Wednesday, Metaplanet announced plans to raise $884 million by selling shares overseas. An extraordinary general meeting in Tokyo will vote on allowing a issue of 555 million preferred shares, which could raise ¥555 billion (approximately $3.8 billion). If approved, this would become one of the largest Bitcoin acquisition authorizations by a public company in Japan.
Politics and Company Future
Metaplanet has suspended all Evo-related activities between September 3 and September 30. Additionally, Eric Trump plans to attend the shareholder meeting as a new advisor to the company. Currently, over 170 public companies hold Bitcoin, and Metaplanet ranks seventh with 18,991 tokens.
Metaplanet faces serious challenges amid market instability but hopes to raise capital through new financial mechanisms. The company's future depends on its ability to navigate the current crisis and continue enhancing its Bitcoin resources.
