Metaplanet Faces Bitcoin Losses and Stock Dip as BTC Crashes
Japanese company Metaplanet, which has become a well-known corporate adopter of Bitcoin, began to suffer modest losses in its investments.
This is because the price of cryptocurrencies has dropped to its lowest level in three months.
In the past week, Bitcoin has been experiencing a sharp declineweekly losses extended to 18.2%. In fact, today, its price has dropped to a date below $80,000, marking the last price level seen in November 2024.
At press time, Bitcoin was trading at $80,462 6.5% drop in the past 24 hours. this The wider crypto market has also declinedthe total market value depreciates by 7.7%.
The average cost for Metaplanet is $81,458 per Bitcoin, These fluctuating spellings are troublesome. According to the latest data Metaplanet encounters 2.0% loss from bitcointreseries Bitcoin Investing.
The company currently holds 2235 BTC, worth $179.54 million. This accounts for 20.9% of the company’s total market value.
Financial challenges go beyond their cryptocurrencies. Metaplanet’s Stocks have also been well-known for their blow.
“Metaplanet (3350 JP) is now down 54% since its peak,” Bitmex Research Famous.
However, BITMEX stressed that Metaplanet’s stock price is still higher than the value of Bitcoin it owns. At the same time, according to Yahoo FinanceMetaplanet shares fell 17.4% today to close at 3,310 yen (about $22).
Despite the decline, Metaplanet’s commitment to Bitcoin remains unwavering. On February 27, the company release Buy a zero interest bond for Bitcoin (approximately $13.3 million). This is the seventh bond issuance for the same purpose. The bonds are scheduled to be redeemed at face value on August 26.
This move is consistent with Metaplanet’s 2025 roadmap. The company’s goal is By the end of this year, 10,000 Bitcoins have been accumulated.
“The market has recognized Metaplanet as an outstanding Bitcoin company in Tokyo and we are seizing this momentum to consolidate our position as a global leader. Our vision is to lead the Bitcoin revival in Japan and become one of the world’s largest corporate Bitcoin holders. This plan is our commitment to the future,” said Simon Gerovich, CEO of Metaplanet. explain.
Metaplanet’s ambitious strategy extends beyond 2025 Accumulated 21,000 Bitcoins By the end of 2026, the company called it the “21 million plan.”
The initiative involves the issuance of 21 million shares through a strike order. It represents the largest Bitcoin equity fundraising ever in Asia, Funding target is 16.65 billion yen (USD 785 million).
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