Metaplanet’s Bitcoin Accumulation Strategy Faces Headwinds as Stock Plunges

Metaplanet, a Tokyo-based company known for its aggressive Bitcoin acquisition strategy, is struggling under pressure from a steep decline in its share price. This drop has raised concerns about the sustainability of its unique fundraising model, which relied on rising stock prices to unlock capital from key investor Evo Fund via MS warrants. The mechanism is now facing challenges as shares have plunged 54% since mid-June, rendering exercising these warrants unattractive for Evo, and impacting Bitcoin acquisitions according to Bloomberg reports.