PANews reported on August 31st that Cointelegraph, citing Bloomberg, reported that the share price of Metaplanet, a Japanese Bitcoin treasury company, has plummeted 54% since mid-June. Its stock-based "flywheel" mechanism has "failed," forcing the Tokyo-listed company to seek alternative financing methods. Metaplanet plans to raise approximately 130.3 billion yen (approximately $880 million) through a public offering of shares in overseas markets. Additionally, shareholders will vote on Monday on whether to approve the issuance of up to 555 million shares of preferred stock, a rare investment vehicle in Japan that could raise up to 555 billion yen (approximately $3.7 billion).