2024

Bitcoin

Million

<p>The post <a href="https://coinpedia.org/news/metaplanet-inc-bolsters-bitcoin-holdings-with-3-3-million-purchase/">Metaplanet Inc. Bolsters Bitcoin Holdings with $3.3 Million Purchase</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Japan-based publicly traded company Metaplanet Inc. has reaffirmed its commitment to the Bitcoin (<a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) plan. According to Simon Gerovich, the CEO of Metaplanet, the company has completed the purchase of 57.103 Bitcoins, worth about 500 million yen or around $3.3 million.</p> 
<p>Gerovich noted that today’s Bitcoin purchase aligned with the 1 billion yen loan announced on August 8. As a result, Metaplanet now holds about 303.095 Bitcoins, worth nearly 3 billion yen.</p> 
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   <p lang="en" dir="ltr">Always be stacking <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/Metaplanet_JP?ref_src=twsrc%5Etfw">@Metaplanet_JP</a> <a href="https://t.co/c34goVoLa8">pic.twitter.com/c34goVoLa8</a></p>— Simon Gerovich (@gerovich) <a href="https://twitter.com/gerovich/status/1823201085160587402?ref_src=twsrc%5Etfw">August 13, 2024</a>
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<h2 class="wp-block-heading" id="h-metaplanet-joins-other-institutional-investors-in-bitcoin-accumulation-nbsp">Metaplanet Joins Other Institutional Investors in Bitcoin Accumulation&nbsp;</h2> 
<p>Following the gradual mainstream adoption of Bitcoin worldwide, fueled by clearer regulatory frameworks, more institutional investors have added the flagship coin to their respective balance sheets.&nbsp;</p> 
<p>For instance, Marathon Digital Holdings Inc. (NASDAQ: MARA) <a href="https://ir.mara.com/investors/news-events/press-releases/detail/1366/marathon-digital-holdings-inc-announces-proposed-private-offering-of-250-million-of-convertible-senior-notes" target="_blank" rel="noreferrer noopener nofollow">announced</a> on Monday that it intends to offer senior convertible notes worth $250 million to acquire more Bitcoins.&nbsp;</p> 
<p>MicroStrategy and Tesla have led other institutional investors in holding Bitcoin throughout the crypto bear market. Meanwhile, the US spot Bitcoin ETF issuers registered a net cash inflow of about $28 million on Monday.</p> 
<p>According to on-chain data, institutional investors have received more than $1.3 billion in Tether <a href="https://markets.coinpedia.org/tether/" target="_blank" rel="noreferrer noopener">USDT </a>since August 5, suggesting heightened purchasing power.</p> 
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   <p lang="en" dir="ltr">Institutions seem to have temporarily stopped buying, and the price of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> dropped 4.5% today!<br><br>We noticed that institutions stopped receiving <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> from <a href="https://twitter.com/hashtag/TetherTreasury?src=hash&amp;ref_src=twsrc%5Etfw">#TetherTreasury</a> and transferring it to exchanges 2 days ago.<a href="https://t.co/0XKiPmjJed">https://t.co/0XKiPmjJed</a> <a href="https://t.co/NRFkp4Vqan">pic.twitter.com/NRFkp4Vqan</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1822899987287552267?ref_src=twsrc%5Etfw">August 12, 2024</a>
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<h2 class="wp-block-heading" id="h-impact-on-btc-price-action">Impact on BTC Price Action</h2> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> consolidates in an inverted triangle, without a clear breakout on either side. The flagship coin closed last week in a dragonfly Doji candlestick, suggesting the bulls are regaining control, with an anticipated rebound ahead.</p> 
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   <p lang="en" dir="ltr">Perspective on charting<br>I do NOT trade opinions. I trade set-ups via classical charting principles. I avoid trades when price is range bound. My entry is on completed patterns. <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> displays what is known as an inverted or expanding triangle. No breakout yet so no trade. <a href="https://t.co/xHYxJMpBP1">pic.twitter.com/xHYxJMpBP1</a></p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1822970661972676770?ref_src=twsrc%5Etfw">August 12, 2024</a>
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<p>Furthermore, Bitcoin price rebounded off the 200-weekly Moving Average (MA) as the Relative Strength Index (RSI) attempted to rally above the 50 percent level.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-analysis/whats-preventing-bitcoins-btc-price-from-reaching-70000-how-long-will-it-stay-under-65000/" target="_blank" rel="noreferrer noopener">What’s Preventing Bitcoin’s (BTC) Price from Reaching $70,000? How Long Will It Stay Under $65,000?</a></p>

Metaplanet Inc. Bolsters Bitcoin Holdings with $3.3 Million Purchase

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