Metaplanet’s extraordinary general meeting in Tokyo drew attention with both Eric Trump’s appearance and new approvals for Bitcoin investments.
On September 1, shareholders approved a plan allowing the company to issue up to 550 million new shares abroad. The sale, valued at around 130 billion yen, will largely fund additional Bitcoin purchases. The meeting also authorized raising the maximum number of shares to 2.7 billion and enabled virtual-only shareholder meetings.
Eric Trump, son of U.S. President Donald Trump and a recently appointed advisor, joined the stage to support CEO Simon Gerovich. He remarked, “In Asia, Simon led the crypto wave, while in the U.S. it was Michael Saylor.” On the same day, Metaplanet purchased 1,009 additional Bitcoin, pushing its total holdings beyond 20,000 BTC and ranking as the world’s seventh-largest public Bitcoin treasury.
Shares have seen sharp swings over the past year. After soaring 740%, the stock has lost more than half its value since June, closing down 5.5% at 853 yen on September 1. Still, management emphasized that the shareholder backing will strengthen its ability to execute growth plans. The meeting itself took on a festival-like atmosphere, with costumed participants, food trucks, and live performances reflecting the cultural shift brought by the company’s pivot into crypto.
