*

Metaplanet ( MTPLF ) shares surged 760% in past year

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Metaplanet ( MTPLF ) plans to sell up to 550 million shares for

about $884

million

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Eric Trump named adviser to Metaplanet ( MTPLF ) in March

By Rocky Swift and Anton Bridge

TOKYO, Sept 1 (Reuters) - Eric Trump is expected to

attend a shareholder meeting of Japanese bitcoin treasury

company Metaplanet ( MTPLF ) in Tokyo on Monday, as the U.S.

president's family expands its crypto ventures internationally.

Eric Trump, the second son of President Donald Trump, was

named in March as an adviser to Metaplanet ( MTPLF ), which holds more

than $2 billion in bitcoin, and his attendance would follow an

appearance last week at the Bitcoin Asia conference in Hong

Kong.

American Bitcoin, a miner of the cryptocurrency founded by

Eric Trump and his brother Donald Trump Jr., is aiming to list

on the Nasdaq this month. Asher Genoot, CEO of the company that

presently holds 80% of American Bitcoin, said Eric Trump would

attend the Metaplanet ( MTPLF ) event, which was previously reported by

Bloomberg.

Donald Trump has promised to be the "crypto president",

saying he backs the asset class because it can improve the

banking system and increase the dominance of the U.S. dollar.

Some of Trump's businesses in areas such as crypto, which

have added substantially to his wealth, benefit from U.S. policy

shifts under him and have invited criticism.

Metaplanet ( MTPLF ) stockholders are due to vote on a plan that would

sell up to 550 million new shares overseas for 130.3 billion yen

($884.41 million), with the bulk of the proceeds to be spent on

buying more bitcoin.

Metaplanet ( MTPLF ) declined to comment on Eric Trump's involvement

in the meeting. A representative for him did not respond to a

request for comment.

Previously a hotel operator, Metaplanet's ( MTPLF ) pivot into crypto

has paid off handsomely. Its shares have surged nearly 760% in

the past 12 months, compared with a 14% advance in the Topix

.

Metaplanet ( MTPLF ) appointed Eric Trump earlier this year to a newly

formed board of advisers, calling him a "leading voice and

advocate of digital asset adoption worldwide".

The company, which trades on the Standard section of the

Tokyo Stock Exchange, was previously known as Red Planet Japan

and focused on hotel operations. Before that, it was a

wholesaler of music CDs.

The company's subsidiary, Red Planet Hotels Japan, filed for

bankruptcy in May 2024.

($1 = 147.3300 yen)