Japan-based Bitcoin treasury firm Metaplanet just announced a record date for convening an extraordinary general meeting of shareholders. Notably, Metaplanet (MTPLF) stock tumbled significantly in the last hour of trading on Wednesday.
The stock failed to hold the recent rebound as Bitcoin price slipped to $121K level. The firm holds 30,823 BTC in its corporate treasury.
In an official announcement on October 8, Metaplanet revealed that its board of directors has taken a key decision regarding the Extraordinary General Meeting of Shareholders.
The board set October 24 as the record date for the meeting. This will determine the shareholders who will become eligible to use their voting rights in key decisions of the firm, including purchasing Bitcoin.
The Extraordinary General Meeting of Shareholders is scheduled for December 22, 2025. The company reported significant growth in its third-quarter results, earning 2.44 billion JPY in Bitcoin income revenue.
This marked a 115.7% rise compared with the previous quarter. Operating profit also increased, beating analysts’ forecasts by 88%.
CEO Simon Gerovich said its balance sheet is almost debt-free, with leverage below 1%. The company also expanded its total Bitcoin holdings to 30,823 BTC worth over $3.33 billion.
It became the fourth-largest corporate Bitcoin treasury, according to Bitcoin Treasuries data.
The firm has achieved a yield of 497.1% year-to-date through an aggressive Bitcoin accumulation strategy while prioritizing long-term purchases.
Metaplanet stock price closed more than 8% lower at 574 JPY on Wednesday. The major drop happened in the last trading hours with massive trading volume.
The 24-hour low and high were 564 and 595 JPY. Also, the 24-hour trading volume was higher than the average volume of almost 46 million.
As per Yahoo Finance, the stock price climbed more than 12% in a week amid Bitcoin rally to a new ATH. The year-to-date return is almost 65%.
Meanwhile, MTPLF stock closed 2.72% lower at $3.93 on Tuesday, expanding the monthly drop to nearly 15%. Moreover, the stock is still up over 75% YTD.
As The Coin Republic reported earlier, short positions on Metaplanet stock (MTPLF) collapsed from 141 million earlier this month to 14 million.
Bitcoin Price Slips to $121K Ahead of FOMC Meeting Minutes
Bitcoin price fell to $121K in response to the FOMC Meeting Minutes due today and Fed Chair Jerome Powell’s speech due on Thursday.
Despite the US government shutdown, traders are actively turning cautious amid the heavy macro week.
BTC price was trading 2% lower at $122,935 at the time of writing. The 24-hour low and high were $120,987 and $125,184, respectively.
Furthermore, the trading volume increased by 23% over the last 24 hours, indicating interest among traders as they await key cues.