Metaplanet Collapses 78% From Its Peak as Bitcoin Strategy Unravels
Metaplanet, Japan’s self-proclaimed Bitcoin pioneer, is in deep trouble. The company’s stock has collapsed 78% from its all-time high, and its Bitcoin-heavy treasury is officially underwater. According to CoinMarketCap, Bitcoin now trades around $101,200, putting Metaplanet’s $108,000 average BTC cost basis about 5% in the red. That means the company’s massive 30,823 BTC position, once … Read more