Amid the crypto market’s capricious ballet, Metaplanet and El Salvador both pirouetted into Bitcoin, just as the digital currency began its 5% descent over a mere 10 hours on Feb. 25. 🕺💃
Metaplanet, with the grace of a seasoned ballerina, acquired 135 Bitcoin (BTC) for a princely sum of $13 million, at an average price of $96,185. Meanwhile, the ever-dashing El Salvador, the nation that has made Bitcoin its life partner, purchased 7 Bitcoin on Feb. 24, when the market was trading at $94,050. 🌎💰
Alas, the market’s mood turned sour, and Bitcoin dipped below $91,000 in the early hours of Feb. 25. However, like a resilient dancer, Bitcoin has since rebounded to $92,260, though the crypto market’s sentiment has plummeted to its lowest in over five months. 😢
The Japan-based firm’s latest pirouette brings its total Bitcoin stash to 2,225 Bitcoin, worth over $205 million. With an average purchase price of $81,834, the Simon Gerovich-led firm is currently up around 12.7% on its Bitcoin investment since April, when it first announced its intention to embrace Bitcoin as a treasury asset. 📈
Metaplanet, however, noted that its “BTC Yield” — the period-to-period percentage change in the ratio between a company’s Bitcoin holdings and its diluted shares — is up 23.3% this quarter, putting it on track to reach its 35% target per quarter for Q1. 🎉
Metaplanet is currently the 14th largest corporate Bitcoin holder in the world, according to BitBo’s BitcoinTreasuries.NET data. However, the company’s latest purchase failed to lift Metaplanet’s (TYO: 3350) share price on the Tokyo Stock Exchange, which has fallen 0.16% to 6,130 Japanese yen ($41.06) since the announcement was made during the Feb. 25 lunch break, according to Google Finance data. 🍱💔
El Salvador Adds Another 7 Bitcoin to Its Reserve
Meanwhile, El Salvador’s Bitcoin purchase was a bit more extravagant than its usual one Bitcoin per day, as reported by the El Salvador National Bitcoin Office. 🤑
The purchase came about an hour before the former president of the United States, Donald Trump, confirmed America’s plan to impose a 25% tax on imports from Canada and Mexico is still “on schedule,” which was promptly followed by a crypto market tumble. 🤷♂️
The Central American country’s latest purchase takes its total Bitcoin stash to 6,088 Bitcoin, worth $560.7 million at current prices. 🏦
El Salvador’s continued investment in Bitcoin comes as it agreed to pull back several Bitcoin policies as part of a $1.4 billion deal with the International Monetary Fund. One of those agreements included not making it mandatory for merchants to accept Bitcoin as a form of payment. 🤝
Meanwhile, at least eight spot Bitcoin exchange-traded funds from seven issuers saw outflows on Feb. 24 — totaling a combined $357.8 million, according to Farside Investors data. The Fidelity Wise Origin Bitcoin Fund was hit hardest with an outflow of $247 million, while the BlackRock-issued iShares Bitcoin Trust saw 159 million in outflows, according to preliminary data from HODL15Capital. 📉
Read More
- OM PREDICTION. OM cryptocurrency
- Doctor Strange’s Shocking Return in Marvel’s Avengers: Doomsday Revealed!
- USD MXN PREDICTION
- EUR JPY PREDICTION
- DF PREDICTION. DF cryptocurrency
- YFI PREDICTION. YFI cryptocurrency
- COW PREDICTION. COW cryptocurrency
- FIL PREDICTION. FIL cryptocurrency
- KSM PREDICTION. KSM cryptocurrency
- South of Midnight PC Requirements Revealed
2025-02-25 09:15