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Japan’s Metaplanet Stock Crashes Below ¥700, Hitting Three-Month Low

Source Tradingkey

TradingKey – This morning, Metaplanet increased its Bitcoin holdings, but its share price still plunged below ¥700, marking a new low in over three months.

On Monday (September 8), shares of Metaplanet (TSE: 3350), Japan’s largest Bitcoin holder, continued their downward slide, dipping below ¥700 for the first time since May 19. Earlier today, the stock spiked intraday before falling to a low of ¥687, and is currently trading at ¥700.

altText

[Metaplanet Stock Price Chart, Source: TradingView]

Just now, Metaplanet announced an additional purchase of 136 Bitcoins (BTC), triggering a brief rebound in its share price, though it failed to break back above ¥700. As of publication, Metaplanet holds a total of 20,136 BTC, ranking ninth globally.

altText

[Metaplanet Announcement, Source: X]

Despite Metaplanet’s ongoing Bitcoin accumulation, recent weakness in BTC’s price has further weighed on its stock. As of this writing, Bitcoin is hovering around $110,000, currently trading at $111,327.

altText

[BTC Price Chart, Source: TradingView]

Source

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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