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Bitcoin Bitcoin (BTC) $115,483.69 ↑ 1.89%
Ethereum Ethereum (ETH) $3,678.92 ↑ 2.23%
XRP XRP (XRP) $3.00 ↑ 0.71%
Tether USDt Tether USDt (USDT) $1.00 ↑ 0.04%
BNB BNB (BNB) $771.46 ↑ 2.76%
Solana Solana (SOL) $168.63 ↑ 2.68%
USDC USDC (USDC) $1.00 ↑ 0.01%
TRON TRON (TRX) $0.33 ↑ 0.71%
Dogecoin Dogecoin (DOGE) $0.21 ↑ 3.43%
Cardano Cardano (ADA) $0.74 ↑ 2.29%
Hyperliquid Hyperliquid (HYPE) $38.92 ↑ 0.78%
Stellar Stellar (XLM) $0.40 ↑ 0.81%
Sui Sui (SUI) $3.49 ↑ 2.55%
Chainlink Chainlink (LINK) $16.78 ↑ 2.58%
Bitcoin Cash Bitcoin Cash (BCH) $570.22 ↑ 1.75%
Hedera Hedera (HBAR) $0.25 ↑ 3.29%
Ethena USDe Ethena USDe (USDe) $1.00 ↑ 0.04%
Avalanche Avalanche (AVAX) $22.20 ↑ 1.73%
Litecoin Litecoin (LTC) $118.73 ↓ -1.89%
UNUS SED LEO UNUS SED LEO (LEO) $8.99 ↑ 0.11%
Toncoin Toncoin (TON) $3.20 ↓ -1.97%
Shiba Inu Shiba Inu (SHIB) $0.00 ↑ 2.89%
Uniswap Uniswap (UNI) $9.71 ↑ 1.63%
Polkadot Polkadot (DOT) $3.67 ↑ 2.15%
Dai Dai (DAI) $1.00 ↑ 0.04%
Monero Monero (XMR) $283.50 ↓ -3.44%
Bitget Token Bitget Token (BGB) $4.34 ↑ 1.30%
Cronos Cronos (CRO) $0.14 ↑ 7.09%
Pepe Pepe (PEPE) $0.00 ↑ 3.78%
Aave Aave (AAVE) $262.23 ↑ 3.03%
Ethena Ethena (ENA) $0.60 ↑ 3.78%
Bittensor Bittensor (TAO) $347.30 ↑ 2.04%
NEAR Protocol NEAR Protocol (NEAR) $2.51 ↑ 2.46%
Ethereum Classic Ethereum Classic (ETC) $20.29 ↑ 0.99%
Ondo Ondo (ONDO) $0.94 ↑ 3.03%
Mantle Mantle (MNT) $0.88 ↓ -7.35%
Aptos Aptos (APT) $4.25 ↓ -0.51%
Internet Computer Internet Computer (ICP) $5.13 ↑ 1.45%
OKB OKB (OKB) $45.37 ↑ 0.70%
Pi Pi (PI) $0.34 ↓ -0.36%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.22 ↑ 5.92%
Kaspa Kaspa (KAS) $0.09 ↑ 1.79%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↑ 6.21%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↑ 0.04%
Algorand Algorand (ALGO) $0.25 ↑ 3.39%
GateToken GateToken (GT) $16.49 ↑ 1.29%
VeChain VeChain (VET) $0.02 ↑ 2.98%
Arbitrum Arbitrum (ARB) $0.39 ↑ 1.38%
Bonk Bonk (BONK) $0.00 ↑ 0.16%
Cosmos Cosmos (ATOM) $4.30 ↑ 2.85%
Render Render (RENDER) $3.61 ↑ 2.82%
Worldcoin Worldcoin (WLD) $0.96 ↑ 2.04%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $8.85 ↑ 2.18%
Story Story (IP) $5.82 ↓ -3.06%
Sei Sei (SEI) $0.29 ↑ 1.70%
Sky Sky (SKY) $0.08 ↑ 2.06%
Flare Flare (FLR) $0.02 ↑ 1.48%
Filecoin Filecoin (FIL) $2.38 ↑ 2.16%
SPX6900 SPX6900 (SPX) $1.67 ↑ 3.88%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.65 ↑ 1.14%
XDC Network XDC Network (XDC) $0.09 ↑ 1.02%
Jupiter Jupiter (JUP) $0.48 ↑ 2.31%
First Digital USD First Digital USD (FDUSD) $1.00 ↑ 0.04%
Four Four (FORM) $3.79 ↑ 0.02%
KuCoin Token KuCoin Token (KCS) $10.60 ↑ 0.78%
Quant Quant (QNT) $109.00 ↑ 1.36%
Injective Injective (INJ) $13.01 ↑ 0.02%
Curve DAO Token Curve DAO Token (CRV) $0.92 ↑ 3.60%
Stacks Stacks (STX) $0.70 ↑ 2.26%
Celestia Celestia (TIA) $1.67 ↑ 2.59%
Pump.fun Pump.fun (PUMP) $0.00 ↑ 1.01%
Optimism Optimism (OP) $0.67 ↑ 0.54%
Conflux Conflux (CFX) $0.21 ↑ 0.09%
FLOKI FLOKI (FLOKI) $0.00 ↑ 3.07%
Ethereum Name Service Ethereum Name Service (ENS) $26.43 ↑ 2.17%
Fartcoin Fartcoin (FARTCOIN) $0.96 ↑ 2.66%
Immutable Immutable (IMX) $0.51 ↑ 2.59%
The Graph The Graph (GRT) $0.09 ↑ 4.01%
PAX Gold PAX Gold (PAXG) $3,377.20 ↓ -0.08%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.02%
PancakeSwap PancakeSwap (CAKE) $2.67 ↑ 3.74%
dogwifhat dogwifhat (WIF) $0.90 ↑ 3.32%
Kaia Kaia (KAIA) $0.14 ↑ 2.14%
Nexo Nexo (NEXO) $1.32 ↑ 1.84%
Lido DAO Lido DAO (LDO) $0.94 ↑ 3.75%
Tether Gold Tether Gold (XAUt) $3,371.87 ↓ -0.17%
Tezos Tezos (XTZ) $0.78 ↑ 1.36%
Sonic Sonic (S) $0.28 ↑ 1.60%
Vaulta Vaulta (A) $0.51 ↑ 0.77%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.22 ↑ 3.56%
MemeCore MemeCore (M) $0.51 ↓ -6.71%
Theta Network Theta Network (THETA) $0.77 ↑ 3.15%
IOTA IOTA (IOTA) $0.19 ↑ 3.82%
JasmyCoin JasmyCoin (JASMY) $0.01 ↑ 1.37%
Raydium Raydium (RAY) $2.68 ↑ 3.01%
Gala Gala (GALA) $0.02 ↑ 2.50%
The Sandbox The Sandbox (SAND) $0.27 ↑ 2.15%
DeXe DeXe (DEXE) $8.10 ↑ 3.42%
Pyth Network Pyth Network (PYTH) $0.12 ↑ 3.32%
Pendle Pendle (PENDLE) $4.00 ↑ 4.26%
Bitcoin Bitcoin (BTC) $115,483.69 ↑ 1.89%
Ethereum Ethereum (ETH) $3,678.92 ↑ 2.23%
XRP XRP (XRP) $3.00 ↑ 0.71%
Tether USDt Tether USDt (USDT) $1.00 ↑ 0.04%
BNB BNB (BNB) $771.46 ↑ 2.76%
Solana Solana (SOL) $168.63 ↑ 2.68%
USDC USDC (USDC) $1.00 ↑ 0.01%
TRON TRON (TRX) $0.33 ↑ 0.71%
Dogecoin Dogecoin (DOGE) $0.21 ↑ 3.43%
Cardano Cardano (ADA) $0.74 ↑ 2.29%
Hyperliquid Hyperliquid (HYPE) $38.92 ↑ 0.78%
Stellar Stellar (XLM) $0.40 ↑ 0.81%
Sui Sui (SUI) $3.49 ↑ 2.55%
Chainlink Chainlink (LINK) $16.78 ↑ 2.58%
Bitcoin Cash Bitcoin Cash (BCH) $570.22 ↑ 1.75%
Hedera Hedera (HBAR) $0.25 ↑ 3.29%
Ethena USDe Ethena USDe (USDe) $1.00 ↑ 0.04%
Avalanche Avalanche (AVAX) $22.20 ↑ 1.73%
Litecoin Litecoin (LTC) $118.73 ↓ -1.89%
UNUS SED LEO UNUS SED LEO (LEO) $8.99 ↑ 0.11%
Toncoin Toncoin (TON) $3.20 ↓ -1.97%
Shiba Inu Shiba Inu (SHIB) $0.00 ↑ 2.89%
Uniswap Uniswap (UNI) $9.71 ↑ 1.63%
Polkadot Polkadot (DOT) $3.67 ↑ 2.15%
Dai Dai (DAI) $1.00 ↑ 0.04%
Monero Monero (XMR) $283.50 ↓ -3.44%
Bitget Token Bitget Token (BGB) $4.34 ↑ 1.30%
Cronos Cronos (CRO) $0.14 ↑ 7.09%
Pepe Pepe (PEPE) $0.00 ↑ 3.78%
Aave Aave (AAVE) $262.23 ↑ 3.03%
Ethena Ethena (ENA) $0.60 ↑ 3.78%
Bittensor Bittensor (TAO) $347.30 ↑ 2.04%
NEAR Protocol NEAR Protocol (NEAR) $2.51 ↑ 2.46%
Ethereum Classic Ethereum Classic (ETC) $20.29 ↑ 0.99%
Ondo Ondo (ONDO) $0.94 ↑ 3.03%
Mantle Mantle (MNT) $0.88 ↓ -7.35%
Aptos Aptos (APT) $4.25 ↓ -0.51%
Internet Computer Internet Computer (ICP) $5.13 ↑ 1.45%
OKB OKB (OKB) $45.37 ↑ 0.70%
Pi Pi (PI) $0.34 ↓ -0.36%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.22 ↑ 5.92%
Kaspa Kaspa (KAS) $0.09 ↑ 1.79%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↑ 6.21%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↑ 0.04%
Algorand Algorand (ALGO) $0.25 ↑ 3.39%
GateToken GateToken (GT) $16.49 ↑ 1.29%
VeChain VeChain (VET) $0.02 ↑ 2.98%
Arbitrum Arbitrum (ARB) $0.39 ↑ 1.38%
Bonk Bonk (BONK) $0.00 ↑ 0.16%
Cosmos Cosmos (ATOM) $4.30 ↑ 2.85%
Render Render (RENDER) $3.61 ↑ 2.82%
Worldcoin Worldcoin (WLD) $0.96 ↑ 2.04%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $8.85 ↑ 2.18%
Story Story (IP) $5.82 ↓ -3.06%
Sei Sei (SEI) $0.29 ↑ 1.70%
Sky Sky (SKY) $0.08 ↑ 2.06%
Flare Flare (FLR) $0.02 ↑ 1.48%
Filecoin Filecoin (FIL) $2.38 ↑ 2.16%
SPX6900 SPX6900 (SPX) $1.67 ↑ 3.88%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.65 ↑ 1.14%
XDC Network XDC Network (XDC) $0.09 ↑ 1.02%
Jupiter Jupiter (JUP) $0.48 ↑ 2.31%
First Digital USD First Digital USD (FDUSD) $1.00 ↑ 0.04%
Four Four (FORM) $3.79 ↑ 0.02%
KuCoin Token KuCoin Token (KCS) $10.60 ↑ 0.78%
Quant Quant (QNT) $109.00 ↑ 1.36%
Injective Injective (INJ) $13.01 ↑ 0.02%
Curve DAO Token Curve DAO Token (CRV) $0.92 ↑ 3.60%
Stacks Stacks (STX) $0.70 ↑ 2.26%
Celestia Celestia (TIA) $1.67 ↑ 2.59%
Pump.fun Pump.fun (PUMP) $0.00 ↑ 1.01%
Optimism Optimism (OP) $0.67 ↑ 0.54%
Conflux Conflux (CFX) $0.21 ↑ 0.09%
FLOKI FLOKI (FLOKI) $0.00 ↑ 3.07%
Ethereum Name Service Ethereum Name Service (ENS) $26.43 ↑ 2.17%
Fartcoin Fartcoin (FARTCOIN) $0.96 ↑ 2.66%
Immutable Immutable (IMX) $0.51 ↑ 2.59%
The Graph The Graph (GRT) $0.09 ↑ 4.01%
PAX Gold PAX Gold (PAXG) $3,377.20 ↓ -0.08%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.02%
PancakeSwap PancakeSwap (CAKE) $2.67 ↑ 3.74%
dogwifhat dogwifhat (WIF) $0.90 ↑ 3.32%
Kaia Kaia (KAIA) $0.14 ↑ 2.14%
Nexo Nexo (NEXO) $1.32 ↑ 1.84%
Lido DAO Lido DAO (LDO) $0.94 ↑ 3.75%
Tether Gold Tether Gold (XAUt) $3,371.87 ↓ -0.17%
Tezos Tezos (XTZ) $0.78 ↑ 1.36%
Sonic Sonic (S) $0.28 ↑ 1.60%
Vaulta Vaulta (A) $0.51 ↑ 0.77%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.22 ↑ 3.56%
MemeCore MemeCore (M) $0.51 ↓ -6.71%
Theta Network Theta Network (THETA) $0.77 ↑ 3.15%
IOTA IOTA (IOTA) $0.19 ↑ 3.82%
JasmyCoin JasmyCoin (JASMY) $0.01 ↑ 1.37%
Raydium Raydium (RAY) $2.68 ↑ 3.01%
Gala Gala (GALA) $0.02 ↑ 2.50%
The Sandbox The Sandbox (SAND) $0.27 ↑ 2.15%
DeXe DeXe (DEXE) $8.10 ↑ 3.42%
Pyth Network Pyth Network (PYTH) $0.12 ↑ 3.32%
Pendle Pendle (PENDLE) $4.00 ↑ 4.26%
Home Cryptocurrency

Metaplanet Makes Its Biggest Bitcoin Purchase Yet: What’s Behind the $60M Bet?

Omada Apeh by Omada Apeh
24 December 2024
in Cryptocurrency, News
Reading Time: 4 mins read
0
Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows

Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows

Japanese firm Metaplanet has solidified its position as a major player in the crypto space with another $60M Bitcoin buy. The company has reportedly bought 619.7 BTC at $96,000 per coin, the largest Bitcoin purchase to date for the firm. This just keeps reinforcing the institutional confidence in Bitcoin as a long-term investment.

With this purchase, Metaplanet now holds 1,762 BTC or $168M. The company is really going all in on Bitcoin as part of its overall financial strategy.

Table of Contents

Toggle
    • YOU MAY BE INTERESTED
    • Altcoin Season Index Hits 51: Are We on the Edge of a Full Altseason?
    • Too Late Means No Gains: MoonBull Is the Best Upcoming Crypto Presale for 2025 – While Dogecoin and Turbo Keep Heating Up
  • Institutional Momentum: Metaplanet’s Bitcoin Holdings
  • Michael Saylor Asks for More Bitcoin
  • Regulatory Optimism: Trump’s Pro-Crypto Advisor Makes Market Happy
  • Technical Analysis: Bitcoin to the charts
  • Conclusion
  • FAQ
  • 1. How much Bitcoin did Metaplanet buy?

YOU MAY BE INTERESTED

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WhatsApp Image 2024 11 04 at 08.16.30

Institutional Momentum: Metaplanet’s Bitcoin Holdings

This latest purchase quadruples the previous record Bitcoin purchase from Metaplanet-a deepening of its commitment, so to say. The firm is looking at new financial instruments, such as loans or bond issuance, to grow its Bitcoin reserves further.

By making cryptocurrency a part of their overall strategy, Metaplanet is part of that small but growing group of institutions that have put their money into Bitcoin as a hedge against economic uncertainty. The more institutions that demand investment, the more solid the ground for the crypto markets.

Metaplanet’s move has people wondering if other institutions will follow and add to the price of Bitcoin in the next few months.

Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows
Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows

Michael Saylor Asks for More Bitcoin

Michael Saylor, co-founder of MicroStrategy and one of the original and loudest Bitcoin company bulls, is still leading the charge for more institutional adoption. Just recently, Saylor asked Jeff Bezos, founder of Amazon, to invest $600M in Bitcoin. He did this while also asking certain Amazon shareholders to put 5% of their assets into Bitcoin.

Saylor’s ask is putting pressure on the tech giants to include Bitcoin in their financial strategy. Bezos hasn’t responded publicly yet but the conversation is certainly making Bitcoin more prominent among business leaders.

If companies like Amazon were to follow Saylor’s advice, it could trigger a wave of institutional investments and cement Bitcoin’s place in the global financial system.

Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows
Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows

Regulatory Optimism: Trump’s Pro-Crypto Advisor Makes Market Happy

The Bitcoin community is feeling good after Stephen Miran was appointed as Chair of the Council of Economic Advisers under President-elect Donald Trump. Miran is a Bitcoin advocate and believes in the digital currency’s ability to drive economic innovation.

Miran’s stance against excessive regulation could create a more favourable environment for cryptocurrency adoption in the United States. 

Fewer regulatory hurdles would make the institutional adoption story even more bullish for Bitcoin as an asset for large investors.

Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows
Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows

Technical Analysis: Bitcoin to the charts

Bitcoin is still under pressure and consolidating in a symmetrical triangle that has been well respected so far. Key support levels are $92,150 and resistance zones are $95,347, $97,716 and $99,502.

  • Support Levels: $92,150 serves as a double-bottom safety net, with further support at $90,344 and $88,631.  
  • Resistance Levels: A descending trendline near $95,350 caps upward momentum.  
  • Indicators: The Relative Strength Index (RSI) at 41.68 and the 50-day Exponential Moving Average (EMA) at $96,373 suggest continued bearish momentum.  

These are the levels to watch for the next Bitcoin move. Technicals are bearish in the short term, but strong institutional confidence and optimism in regulations are setting the stage for the long-term growth of Bitcoin.

Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows
Metaplanet Buys $60M in Bitcoin as Institutional Trust Grows

Conclusion

Metaplanet’s big Bitcoin buy, Michael Saylor’s outspokenness and regulatory optimism under Trump’s administration is a perfect storm for Bitcoin. Institutional trust in Bitcoin is growing and supported by good market fundamentals and potential regulatory relief.

The whole crypto market will continue to grow as more and more companies see Bitcoin as a strategic reserve asset, but traders and investors will be watching Bitcoin’s next move in the context of institutional momentum and a more friendly regulatory environment.

Stay updated with Turkishnyradio as we’re available around the clock, providing you with updated information about the state of the crypto world.

FAQ

1. How much Bitcoin did Metaplanet buy?

619.7 BTC for $60 million. The total number of Bitcoins held is 1,762, valued at approximately $168 million.

2. Why is Metaplanet’s purchase significant?

It marks the largest Bitcoin buy by Metaplanet so far and highlights institutional confidence in Bitcoin as a long-term asset.

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3. What is Michael Saylor’s role in BTC advocacy?

Michael Saylor is a co-founder of MicroStrategy and a Bitcoin evangelist. He recently asked Jeff Bezos to invest $600 million into BTC, saying it would accelerate institutional adoption.

4. How might Trump’s administration impact Bitcoin?

The appointment of pro-Bitcoin advisor Stephen Miran suggests a potential reduction in regulatory pressures, fostering a more crypto-friendly environment in the U.S.  

 

Tags: bitcoin analysismetaplanetMichael Saylor
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