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.