Markets· ★★★· bearish·

Metaplanet shares fall 13% in three sessions as bitcoin slides

  • —Metaplanet closed at 258 yen on October 8 (-9.47%) and 257 yen on October 9 (-0.39%)
  • —The stock has lost about 13% in three sessions, sliding from 297 yen on October 5 to 257 yen
  • —Bitcoin fell to the $83,000 area on October 7 and briefly below $81,000 on October 8
  • —Q3 revenue from its bitcoin business was 848.4 million yen, down 51% from Q2 and the third consecutive quarterly decline
Why it matters: Metaplanet is one of the largest public bitcoin holders with 44,000 BTC, so its slide shows how a weaker bitcoin price hits crypto-treasury equities.
Source: CoinDesk Japan