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US President Donald Trump’s son, Eric Trump, was expected to attend a Metaplanet shareholders meeting today as the company prepares to vote on an $884 million capital raise to expand its Bitcoin holdings.
That’s after the company announced its latest Bitcoin buy today of 1,009 BTC for about $112 million, pushing its BTC holdings to 20K.
That made the company the sixth-largest corporate Bitcoin holder, overtaking Riot Platforms, data from Bitcoin Treasuries shows.
The shareholders meeting will focus on whether the company should sell up to 550 million new shares to overseas investors. Should the move get approved, it could see Metaplanet raise about $884 million to bolster its already-large BTC reserves.
Metaplanet has already said that a bulk of those proceeds will be used to purchase more BTC.
The efforts to raise capital from offshore investors come as Metaplanet’s stock continues to slide. Just today, the company’s share price has plummeted more than 5%.
A report by Bloomberg warns that Metaplanet’s declining stock price could lead to a fundraising drought for the company, which has relied on debt financing to fund its BTC acquisitions.
According to the report, Metaplanet’s share price has slid 54% since the middle of June, while BTC’s price has risen around 2% during this same period.
The decline has put its capital-raising “flywheel” under stress. Metaplanet relies on this mechanism to unlock additional funding through so-called Moving Strike warrants that are issued to its primary investor, Evo Fund.
With the drop in Metaplanet’s share price since June, exercising those warrants is no longer an attractive option for Evo, according to the report. This could squeeze the company’s liquidity and slow its BTC accumulation.
Trump’s visit to Tokyo comes after he attended the Bitcoin Asia conference in Hong Kong last week. It also comes ahead of American Bitcoin’s listing on the Nasdaq this week.
American Bitcoin is a BTC mining company that is partially owned by Eric Trump and his brother Donald Trump Jr. The firm recently merged with Gryphon Digital mining, a publicly-listed mining firm, whose shareholders approved the move.
As part of the deal, Gryphon will implement a 5-for-1 reverse stock split to meet Nasdaq’s listing requirements.
“The Reverse Stock Split is expected to become effective as of 5:00 p.m. Eastern Time on Sept. 2, 2025,” Gryphon said in an announcement.
That merger fast-tracks American Bitcoin’s access to Wall Street capital without the need for an initial public offering (IPO).
American Bitcoin and Metaplanet are not the only ventures that Eric Trump is involved in. His family also has ties to the decentralized finance (DeFi) platform, World Liberty Financial (WLFI).
Later today, that project will unlock 20% of the tokens that early investors bought. These released tokens will then become tradable on several leading crypto exchanges, including Binance and OKX, who have said that they will activate trading for the Trump crypto at 1:00 p.m. UTC today.
World Liberty Financial has launched its own USD1 stablecoin to capitalize on the momentum around stablecoins after the GENIUS Act was signed into law earlier this year.
Recently, World Liberty Financial launched its USD1 stablecoin on the Solana network.
The Trumps also have their own meme coins. These are the Official Trump (TRUMP) and Melania Meme (MELANIA) tokens.
The first of those two meme coins, TRUMP, has led the market in terms of 24-hour gains, soaring over 6%, according to CoinMarketCap.
The Trumps’ interest in crypto started when banks were “weaponized” against them under the Joe Biden administration, according to Eric Trump.
He said that his family was “debanked,” leaving them with no other choice but to turn to DeFi as an alternative.
Read more on InsideBitcoins.com
