Metaplanet is ramping up its Bitcoin holdings, securing an additional 497 BTC for $43.9 million as part of its long-term accumulation plan.
The Tokyo-listed firm now holds 2,888 BTC, with an average purchase price of $83,172 per coin, bringing the total investment to $240.2 million.
At current market rates, this translates to $251 million in unrealized gains.
The company has been aggressively increasing its Bitcoin reserves since April 2024, officially integrating BTC into its core business strategy by December.
Its ambitious targets include reaching 10,000 BTC by the end of 2025 and doubling that to 21,000 BTC by 2026.
Following the latest purchase, Metaplanet’s stock surged 17% in Japan, signaling strong investor confidence in its Bitcoin-centric approach.
Meanwhile, Bitcoin itself climbed 4% in the past day to $87,443, further supporting the growing trend of institutional adoption of the cryptocurrency.
As crypto markets drift in a holding pattern, sentiment among everyday traders is showing signs of pessimism—and that might be exactly what Bitcoin needs to break higher, according to blockchain intelligence platform Santiment.
While many in the hedge fund world remain hesitant about Bitcoin’s long-term relevance, especially beyond the Trump era, Eric Semler is moving in the opposite direction—and doing so aggressively.
Geopolitical anxiety is gripping crypto trading desks once again. As the clash between Iran and Israel intensifies and Washington weighs its response, controversial trader James Wynn has doubled down on an already hefty bearish wager—now worth roughly $70 million—against Bitcoin.
Bitcoin (BTC) has gone down by 1.2% in the past month but an important piece of legislation in the United States could change the top crypt’s trajectory in the next few months. The so-called ‘GENIUS Act’, an acronym that stands for “Guiding and Establishing National Innovation for U.S. Stablecoins Act”, has been passed in the […]