Eric Trump Clarifies in Asia Other Than Metaplanet Stock Slips

TLDR

Table of Contents

Eric Trump confirms no involvement with ABC, clarifies ties only with Bitcoin firm Metaplanet.
ABC stock dropped over 17% after Eric Trump denied connection following a viral photo.
Metaplanet added 136 BTC, now holding 20,136 BTC amid market volatility.
MTPLF stock fell 1.62%, down 30% this month despite 108% YTD gains.

Eric Trump has denied involvement with any Asian firms apart from Metaplanet, as rumors around another Japan-listed company caused confusion among investors. His clarification has since triggered sharp movements in the stock prices of both Metaplanet and ABC (formerly GFA), raising concerns about investor reactions and market speculation tied to public figures.

Eric Trump Reaffirms Position with Metaplanet Only

Eric Trump, son of former U.S. President Donald Trump, confirmed that Metaplanet is the only company he is aligned with in Asia. He addressed the issue on September 8 on social media platform X after a photo surfaced of him with the president of ABC Corporation. The image quickly circulated in Japan’s investor community, leading to speculation that Trump had business ties with ABC.

The stock price of ABC (formerly known as GFA) surged following the photo’s release, driven by assumptions from foreign investors that Trump’s involvement would benefit the company. However, Trump issued a firm statement denying any role with ABC. “I don’t know who this is, nor do I have ANY involvement in this company,” he said on X. “This was a picture from a conference when I was in Asia.”

Following his statement, ABC’s stock dropped sharply by over 17% to 462 JPY. Trading volume spiked as investors reacted to the news. The photo was reportedly taken during a public event, but Trump clarified he had no dealings with the company and was unaware of the photo’s use in local investment circles.

Metaplanet Continues to Accumulate Bitcoin

While the ABC issue played out, Trump continued to focus on Metaplanet, where he serves as a strategic advisor. The company, known as Japan’s largest corporate Bitcoin holder, confirmed the purchase of an additional 136 BTC. The acquisition, worth around $15.2 million, brings Metaplanet’s total holdings to 20,136 BTC.

Metaplanet’s Bitcoin purchases have remained steady despite recent fluctuations in the cryptocurrency market. The firm said the new acquisition was made at an average price of $111,783 per BTC. Trump also recently attended Metaplanet’s shareholder meeting, which took place last week in Tokyo.

Bitcoin’s price has seen mixed movements recently. As of Monday, BTC traded at $110,979, up around 3.4% in the past week. However, institutional shifts toward altcoins and global economic concerns have weighed on Bitcoin’s overall market momentum.

MTPLF and Metaplanet Stock Slide Amid Market Pressure

Metaplanet’s Tokyo-listed shares closed 2.96% lower at 688 JPY. The stock has faced consistent downward pressure in recent weeks. Data from Yahoo Finance shows the stock has declined 31% over the past month. Despite this, it remains up nearly 97% year-to-date.

The U.S.-listed MTPLF stock also posted a decline, closing 1.62% lower at $4.855 last week. The stock has fallen by 30% over the past month but holds a year-to-date gain of 108%. Traders pointed to broader uncertainty in the cryptocurrency space and large short positions by institutions as reasons for the ongoing decline.

Investor attention remains focused on Bitcoin’s price behavior. Market participants continue to monitor developments in Metaplanet’s Bitcoin strategy, as well as Eric Trump’s role within the company. His latest public statements aim to clear confusion and redirect focus solely toward Metaplanet’s ongoing operations.

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