Eric Trump Joins Tokyo Shareholder Meeting of Metaplanet

Eric Trump, the second son of former U.S. President Donald Trump, is set to attend a major shareholder meeting of Metaplanet, a Japanese bitcoin treasury company, in Tokyo on Monday. This event marks another step in the Trump family’s growing involvement in international cryptocurrency ventures. Eric Trump was appointed as an adviser to Metaplanet in March this year. The company currently holds over $2 billion worth of bitcoin. His attendance follows his recent appearance at the Bitcoin Asia conference in Hong Kong, showing a continued interest in global cryptocurrency developments.

About Metaplanet and Its Growth

Metaplanet, listed on the Tokyo Stock Exchange under the code 3350.T, has seen significant growth in recent years. The company was originally a hotel operator and was previously known as Red Planet Japan. Before that, it even operated as a wholesaler of music CDs. The COVID-19 pandemic affected its hotel business heavily, which prompted a strategic pivot into cryptocurrency.

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The move into bitcoin has proven profitable for Metaplanet. Taking inspiration from Michael Saylor’s bitcoin treasury firm Strategy, Metaplanet’s founder and CEO, Simon Gerovich, decided to sell most of the company’s hotel assets and invest heavily in cryptocurrency. Today, Metaplanet is recognized as the seventh-largest bitcoin holder among public treasuries worldwide, according to BitcoinTreasuries.net.

Capital-Raising Plan to Buy More Bitcoin

During the shareholder meeting in the Shibuya area of central Tokyo, Metaplanet stockholders were asked to approve a major capital-raising plan. The company plans to sell up to 550 million new shares overseas, which would generate about 130.3 billion yen, or approximately $884.41 million. Most of this money will be used to purchase additional bitcoin, further strengthening the company’s cryptocurrency holdings.

Sources from the meeting confirmed that the plan was approved by shareholders. Eric Trump is scheduled to participate in a fireside chat later in the day at the same venue, discussing digital assets and Metaplanet’s global plans. The company did not provide comments about his involvement before the meeting, and representatives for Eric Trump did not respond to requests for comments either.

A Festive Atmosphere at the Meeting

Unlike typical shareholder meetings that are often formal and reserved, the Metaplanet event had a lively, almost celebratory atmosphere. Attendees were welcomed with people in costumes lining the entrance, food trucks serving various treats, and even a K-Pop band performing during the event. The meeting is expected to run late into the afternoon. Media access was restricted, making the event more private for shareholders and attendees.

Donald Trump’s Stance on Cryptocurrency

Donald Trump has publicly expressed support for cryptocurrency. He has even called himself a "crypto president," claiming that digital assets like bitcoin can improve the banking system and increase the dominance of the U.S. dollar. Several of the Trump family businesses, including those involved in cryptocurrency, have grown substantially under policy changes introduced during Donald Trump’s presidency. This growth, however, has invited criticism from some quarters, with concerns about potential conflicts of interest.

The Trump Family’s Crypto Ventures

The Trump family is expanding its involvement in cryptocurrency through several businesses. American Bitcoin, a cryptocurrency mining company founded by Eric Trump and his brother Donald Trump Jr., is set to list on the Nasdaq this month. Eric Trump is actively representing the company internationally and will attend the Metaplanet event in Tokyo, emphasizing the family’s commitment to global digital asset adoption.

Asher Genoot, the CEO of American Bitcoin, confirmed Eric Trump’s participation in the Metaplanet event. Through these ventures, the Trump family continues to position itself as a leading advocate of cryptocurrency worldwide.

Metaplanet’s Bitcoin Holdings

Metaplanet’s dedication to bitcoin has been consistent and strategic. Recently, the company added 1,009 more bitcoin coins, bringing its total holdings to 20,000 coins. This aggressive acquisition strategy has made it one of the largest holders of bitcoin among public companies globally. Over the past year, Metaplanet’s shares have surged nearly 760%, a remarkable growth compared to a 14% increase in the Topix index, which tracks major Japanese stocks. Despite this, the stock experienced a 3.9% drop during Monday’s afternoon trading in Tokyo.

The company has achieved this growth through various financial strategies, including the sale of bonds and warrants, which have provided funds to buy more bitcoin. Metaplanet’s strong focus on cryptocurrency reflects the rising global trend of digital asset adoption, and the company continues to attract attention from investors and crypto enthusiasts worldwide.

Eric Trump’s Role at Metaplanet

Earlier this year, Metaplanet appointed Eric Trump to a newly formed board of advisers. The company referred to him as a "leading voice and advocate of digital asset adoption worldwide." His role is expected to help the company expand its global presence in cryptocurrency and strengthen ties with international investors. By participating in major conferences and shareholder meetings, Eric Trump is playing a visible role in promoting Metaplanet’s initiatives and the broader adoption of digital assets.

Eric Trump’s presence at the Tokyo shareholder meeting marks another significant step in the Trump family’s involvement in cryptocurrency. From Metaplanet’s strategic pivot from hotels to bitcoin, to American Bitcoin’s Nasdaq listing, the family continues to build its reputation in the digital asset world. The Metaplanet shareholder meeting, with its festive atmosphere and key discussions about bitcoin acquisition, showcases the company’s commitment to growth and innovation.

With Eric Trump as an adviser, Metaplanet is set to continue expanding its influence in the global cryptocurrency market. The meeting in Tokyo not only demonstrates the rising importance of digital assets but also highlights the Trump family’s ongoing interest in shaping the future of global finance through cryptocurrency.