Metaplanet's stock price has dropped by more than 50% since mid-June, and the financing "flywheel" is failing.
BlockBeats News, August 31, according to Bloomberg, the share price of Japanese Bitcoin treasury company Metaplanet has fallen by more than 50% since mid-June, and its financing "flywheel" is failing. Previously, on August 27, Metaplanet announced that it plans to raise $881 million to increase its Bitcoin holdings in September and October. The financing will be raised through an international new share issuance, with expected net proceeds of approximately 130.334 billion yen (about $881 million), planned for the following purposes:
· Purchase of Bitcoin: 123.818 billion yen ($837 million)
· Bitcoin financial operations: 6.516 billion yen ($44 million)
In addition, Eric Trump, the second son of Donald Trump, will attend the shareholders' meeting of Japanese Bitcoin financial company Metaplanet Inc on September 1.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trending news
MoreAnalyst: Ethereum is short-term bearish; if it breaks through the $4,600 resistance level, it may have a chance to reach $5,000.
Data: A certain whale spent 15 million USDC in the first public sale to purchase 1 billion WLFI. Tomorrow, 200 million WLFI will be unlocked and claimed, worth 70 million USD.
Crypto prices
More
