- El Salvador grows its BTC holdings to 6,088.18 despite IMF pressure, while Metaplanet acquires 135 BTC.
- Both buy as Bitcoin drops below $91,000, a three-month low.
In a week where fortunes danced like leaves in a tempest, El Salvador and Japan’s Metaplanet clutched their Bitcoin [BTC] like a lifebuoy, securing substantial new holdings amidst the storm of liquidations.
While traders faced billions in forced liquidations, these two stalwarts remained unperturbed, viewing the downturn as a golden opportunity to stockpile. Who needs a crystal ball when you have guts? 😏
El Salvador defies IMF warnings
El Salvador recently snatched up 7 BTC, swelling its total to 6,088.18 BTC, a treasure valued at around $543.2 million. This acquisition followed a brief hiatus from the 18th to the 24th of February—because even Bitcoin needs a vacation, right?
Despite the International Monetary Fund (IMF) waving its finger and urging caution, El Salvador stands firm, committed to its cryptocurrency crusade. Talk about a rebellious teenager! 😜
El Salvador’s treasury has swelled by 8 BTC this week and 41 BTC in the last month. The country’s aggressive accumulation strategy is like a game of Monopoly—only with real money and fewer fake mustaches.
Metaplanet expands holdings amid market volatility
Meanwhile, Metaplanet, in a bold move, acquired 135 BTC for 1.939 billion yen, bringing its total holdings to 2,235 BTC. This purchase cements its position as the 14th largest corporate Bitcoin holder globally. Who knew being a Bitcoin hoarder could be so prestigious?
The acquisition was financed through capital raised from a 4 billion yen bond issuance via EVO FUND, showcasing the company’s knack for using financial instruments like a chef uses spices—just the right amount to make things interesting!
Metaplanet’s BTC Yield, which measures the ratio of Bitcoin holdings relative to fully diluted shares, surged from 41.7% to 23.2% over the past quarter. It’s like watching a stock market soap opera—full of drama and unexpected twists!
Both purchases occurred before Bitcoin dipped below $91,000 in the early hours of the 25th of February. Timing is everything, folks!
Price declines mirror market fears
Bitcoin’s recent price drop, plummeting to around $89,000, adds weight to the growing market concerns. The breakdown from its previous range between $90,000 and $100,000 mirrors the liquidation pressures—like a bad breakup, it’s messy and painful.
Bitcoin’s current price is a three-month low, last seen in late November 2024. It marks a sharp drop from the recent peak near $100,000 but remains well above the $70,000 lows recorded in October 2024. It’s like a rollercoaster ride—hold on tight!
Earlier reports highlighted how a wave of forced liquidations, particularly in Ethereum [ETH] due to the Bybit hack, intensified market instability. As leverage unwound, Bitcoin and Ethereum faced massive sell-offs, dragging prices lower and fueling market anxiety. It’s a wild world out there!
Strategic accumulation amid market instability
Despite the ongoing volatility, both El Salvador and Metaplanet seem to view this price drop as a golden opportunity for strategic accumulation. It’s like buying winter coats in summer—who wouldn’t want to be prepared?
El Salvador’s determination to expand its Bitcoin reserves continues to defy the IMF’s recommendations, signaling a long-term belief in Bitcoin’s economic potential. They’re in it for the long haul, folks!
For Metaplanet, the recent acquisitions suggest a calculated approach to leveraging capital market activity. It’s like chess, but with more zeros on the board
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2025-02-26 11:08