Metaplanet shares have dropped by 8% as UBS reopened a short position, joining Morgan Stanley in betting against Asia's largest Bitcoin holder. UBS now holds 73.1 million shares short, while Morgan Stanley maintains the largest short position with nearly 20 million shares. This move reflects Wall Street's pressure amid a stagnant Bitcoin price and Metaplanet's declining share value.
Despite being the sixth-largest Bitcoin holder globally, Metaplanet's share price has fallen over 15%, impacting its Bitcoin premium. The company plans to raise $1.44 billion through an international offering to increase its Bitcoin reserves to 30,000 BTC by the end of the year and expand its income-generation business.
Metaplanet Shares Plunge 8% Amid Rising Short Positions by UBS and Morgan Stanley
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