Metaplanet has unveiled details of its upcoming extraordinary general meeting and announced benefits for voting shareholders. However, the company's stock continues to fall amid market correction.
Benefits for Metaplanet Shareholders
On August 20, Metaplanet, known as Asia's largest Bitcoin treasury company, disclosed details of the extraordinary general meeting scheduled for September 1. The company stated that shareholders who vote will receive a 6% discount on special merchandise, regardless of whether they vote for or against the proposals. Additionally, shareholders exercising their voting rights will be entered into a lottery for limited edition PlanetGear merchandise.
Decline of Metaplanet and MTPLF Stocks
The recent downturn in the crypto market triggered a decline in Metaplanet and OTC-listed MTPLF stocks, closing at 829 JPY, down 6.43%. The stock price has tumbled 37% in a month, while the year-to-date return was almost 140%. CEO Simon Gerovich highlighted Metaplanet's strong fundamentals even as the stock remains one of the most shorted in Japan.
General Recommendations on Bitcoin Market Conditions
Recent data shows that Metaplanet acquired an additional 775 BTC, bringing its total holdings to 18,888 BTC. However, a recent 10% drop in Bitcoin price has affected investor sentiment regarding the company's stock. The Bitcoin price stands at $113,649 at the time of writing, indicating a mixed response from traders in the derivatives market.
While Metaplanet offers benefits to its shareholders, the current status of the company's stock highlights the risks in the growing crypto market, where Bitcoin price corrections have impacted investor interest.
