Metaplanet Stock Slides 33% Despite Bitcoin Accumulation

Key PointsMetaplanet shares fell below $6, down 33.15% in the past month.The drop comes as the firm continues to expand its Bitcoin holdings.This contrasts with expectations of gains in Japan’s crypto sector following regulatory news.According to TechFlow, Japanese crypto exchange Metaplanet saw its stock price fall to $6.01 on August 18, marking a new monthly low and a 33.15% decline over the past month.The sell-off comes despite the company’s continued accumulation of Bitcoin reserves. Market watchers had expected Japanese crypto-related equities to rise after the Nikkei reported that Japan’s Financial Services Agency (FSA) will approve the country’s first yen-denominated stablecoin.Instead, Metaplanet’s persistent decline underscores investor caution, suggesting Bitcoin treasury strategies alone may not offset equity market headwinds in the current environment.