Eric Trump, the second son of U.S. President Donald Trump, is set to attend a Metaplanet shareholder meeting in Tokyo on Monday as part of expanding the Trump family’s crypto businesses internationally.
His visit to Japan follows his attendance at the Bitcoin Asia conference in Hong Kong last week.
In March, Japan’s largest Bitcoin treasury firm Metaplanet, appointed Eric Trump as its advisor. The company, which boasts holdings exceeding $2 billion in Bitcoin, said at the time, his appointment would foster Metaplanet’s “Bitcoin adoption.”
Metaplanet currently holds 18,991 Bitcoin, valued at $2.04 billion. Metaplanet, previously a hotel operator, has announced plans to raise 180.3 billion yen ($1.2 billion) through an overseas share issuance, with $837 million earmarked for fresh BTC purchases.
Besides, American Bitcoin, co-founded by Eric Trump and his brother Donald Trump Jr, is keen on listing on Nasdaq soon. The company is finalizing a merger with Gryphon Digital Mining. Trump brothers, together with Hut 8, will hold a combined 98% of the entity, post-merger.
Asher Genoot, CEO of American Bitcoin, confirmed Eric Trump’s attendance at the Metaplanet meeting, as reported by Bloomberg earlier.
Metaplanet Shareholders Due to Vote on Fund-Raising Proposal Amid Eric Trump Visit
Eric Trump’s Monday meeting will involve a vote by Metaplanet shareholders on a capital-raising proposal, per a Reuters report.
The plan would sell 550 million new shares overseas, raising 130.3 billion yen ($884.41 million), primarily for Bitcoin purchases.
Metaplanet, formerly known as Red Planet Japan, has seen its shares skyrocket by nearly 760% in the past year.
Metaplanet Stock Sinks – Fundraising Crisis Ahead?
The shares of the Japanese aggressive Bitcoin accumulation firm tumbles, threatening the Metaplanet’s capital raising model.
The shares have fallen 2.62% on Monday per Yahoo Finance data, putting its fundraising proposal under stress.
In an interview with Bloomberg, Metaplanet CEO Simon Gerovich called the preferred shares a “defensive mechanism,” that would allow capital infusion without diluting common shareholders if the stock tumbles further.
Metaplanet is aiming for a stash of 100,000 BTC by the end of 2026, and 210,000 BTC by 2027. In other words, it wants to multiply its current holdings by more than 11.
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