Bloomberg: Metaplane's Bitcoin financing "flywheel" strategy is slowing down, Eric Trump has acquired 3.3 million shares in the company
According to online reports, according to Bloomberg, Eric Trump, the second son of U.S. President Trump and consultant to Japanese-listed Bitcoin treasury company Metaplanet, has obtained 3.3 million shares of the company through acquisition rights. He will also attend the special shareholders 'meeting on September 1. At that time, Metaplanet will vote on issuing up to 555 million preferred shares, and if approved, it can raise up to 555 billion yen (approximately US$3.8 billion). However, analysis pointed out that Metaplanet's Bitcoin financing "flywheel" strategy has recently begun to slow down. As of August 29, the company's share price has fallen 54% from its June 16 high, while Bitcoin has risen 2%, resulting in Evo Fund, which previously reached a stock purchase option agreement with it, reducing its willingness to exercise warrants, triggering a recent decrease in the number of Metaplanet's holdings in Bitcoin. Natixis analyst Eric Benoist warned that the Bitcoin premium is the key to the success of Metaplane's "flywheel" financing strategy, but there is no possibility of unlimited supply of available capital.
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