Metaplanet Plunges 8% Amid ¥2 Billion Bitcoin Plan, Market Jitters Over Trump’s April Tariffs

Metaplanet stock plunged 8% after unveiling a ¥2 billion ($13.4m) Bitcoin purchase plan, as markets brace for for US President Donald Trump’s April tariffs.

Google Finance data shows that Metaplanet stock traded at ¥401 as of 2:05 a.m. EST following the recent drop.Metaplanet

Metaplanet Announces ¥2 Billion Bitcoin Purchase Plan

Earlier today, Japan-based investment firm Metaplanet announced the issuance of its 10th Series of Ordinary Bonds worth ¥2 billion. According to a March 31 announcement shared on X today, the firm plans to use the proceeds to buy BTC.

The zero-interest bonds are scheduled for redemption on September 30.

Metaplanet’s decision to buy more BTC comes as the crypto market leader saw its price drop over 1% in the last 24 hours to trade at just above $82K. This correction pushed BTC’s weekly performance to more than 5% in the red. 

The firm’s CEO, Simon Gerovich, said on X that the company is “Buying the dip.”

The Japan-based investment firm currently holds 3,200 BTC, according to bitcointreasuries.net, making it the 10th largest corporate Bitcoin holder globally and the largest corporate holder in Asia.

Markets Brace For April Trump Tariffs

Bitcoin’s 24-hour correction coincided with a broader crypto market correction during the same period. Traditional financial markets also started the week in the red, as investors across the globe brace for Trump tariffs scheduled to be implemented on April 2.

Trump has declared April 2 as “Liberation Day,” marking the start of a new series of sweeping global trade tariffs. 

Related Articles:

  • Crypto.com CEO Says SEC Dropped Investigation
  • Trump Poised To Axe IRS DeFi Broker Rule
  • NFTs Weekly Sales Volume Falls 7% To $96M

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