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Metaplanet's stock price has fallen by more than 50% since mid-June, and the financing "flywheel" is failing.
BlockBeats news, on August 31, according to Bloomberg, the stock price of Japan’s 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 the position in Bitcoin in September and October. The financing will be raised through an international issuance of new shares, with a net fundraising expected to be approximately 130.334 billion yen (about $881 million), planned for: · Purchase of Bitcoin: 123.818 billion yen ($837 million) · Bitcoin financial operations: 6.516 billion yen ($44 million)