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Metaplanet’s shares plunged 8% after UBS reopened a short position, joining Morgan Stanley to bet against the biggest Asian Bitcoin holder.
UBS had closed a previous short film, but returned with a position of $ 73.1 million, highlighting Wall Street’s assembly pressure as a low Bitcoin price and the price of Metaplanet’s sliding action threatens to undermine both its commercial model and its ability to collect funds for more purchases.
The investment banks, of which Jefferies and JPMorgan, also remain short, although certain peers like Goldman Sachs and Citigroup recently reduced their positions. When investors absent action, they bet that its share price drops.
The Metaplanet action course is now down by more than 31% in the last month, according to Google Finance.
Metaplanet action price (source: Google Finance)
Bitcoin is down by almost 3% in the last month.
Morgan Stanley is the largest short
Morgan Stanley MUFG has the greatest short -term position on the Bitcoin stacking company, holding nearly 20 million Metaplanet shares in its position. One of the company’s negotiation offices had slightly reduced its short position, but another of the negotiation offices added many more actions, according to a post by Vincent on X.
Analysis of the short -term institutional position (Metaplanet 3350), September 11, 2025
1. The largest short holder: Morgan Stanley MUFG with nearly 20 million shares (2.83%), adding 1.92 million shares.
2. Morgan Stanley MUFG (second -line article): a separate office shows 17.68 million sharing, with a small reduction… pic.twitter.com/k31umwu0gp
– Vincent (@ vincent13031925) September 15, 2025
While UBS has reopened its short position, Jefferies has increased its position by almost 2 million shares.
Some other banks close their short positions on Metaplanet.
Goldman Sachs has reduced the size of his short position by more than 6 million shares. Likewise, JP Morgan and Citigroup have reduced their order sizes to 4 million and 9 million shares, respectively. Barclays has also reduced 4.5 million shares.
“The cost to borrow Metaplanet (3350) for short-circuit increased to 54% annualized, indicating that the actions available to be lend are extremely rare and that the short circuit has become very expensive,” said Vincent.
Metaplanet Premium continues to collapse with other dates
Metaplanet is classified as the sixth Bitcoin holder worldwide with 20,136 BTC on its balance sheet, according to data from Bitcoin Treasuries.
Top ten biggest business BTC holders (Source: Bitcoin Treasury))
It holds more BTC in its reserves than Cleanspark, Crypto Exchange Coinbase and the electric vehicle manufacturer of Elon Musk, Tesla.
Metaplanet aims to spend his Bitcoin hiding place at 30k BTC by the end of this year.
However, while the price of Bitcoin exchanged was flat during last week, the course of Metaplanet’s action slipped by more than 15%. This has put pressure on the company’s “premium bitcoin”, which makes the difference between the capitalization of the company and the value of the bitcoin it keeps on its balance sheets.
In June, investors paid more than eight times the value of Bitcoin Metaplanet to buy the company’s shares. It has now only fallen the value twice. Analysts warned that this premium drop could endanger the company’s bitcoin accumulation strategy.
Metaplanet is not alone in its premium difficulties. Other digital cash (DAT) companies are also in danger. Michael Saylor’s strategy (formerly Microstrategy), the largest Bitcoin holder worldwide with 638,460 BTC on his balance sheet, saw his stock market less than 9% in the last month.
Investor payments abroad for $ 1.44 billion increases tomorrow
Despite the drop in bonuses, Metaplanet turned to offshore investors to raise more capital and develop his Bitcoin reserves. The company recently declared that it would issue 385 million shares via an international offer to increase around 205 billion yen ($ 1.44 billion).
Payments for these actions are due tomorrow, with delivery scheduled for September 17.
Of the $ 1.44 billion that the company is looking to increase, around $ 1.25 billion in the product will be used to buy more bitcoin between September and October this year. The remaining 138.7 million dollars are reserved for the expansion of the company generation of revenue of the company.
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