Metaplanet Expands Bitcoin Holdings with 330 BTC Purchase Amid Market Volatility
Japanese publicly-listed firm Metaplanet has made its third Bitcoin (BTC) purchase this month, adding 330 BTC to its portfolio. The acquisition brings its total holdings to 4,855 BTC, valued at over $420 million at current prices. This move comes as Bitcoin rebounds above $87,300, recovering from last week’s losses, despite broader market concerns over tariffs and economic pessimism. Metaplanet’s aggressive accumulation strategy solidifies its position as a major institutional holder of Bitcoin.
Metaplanet Buys Another 330 BTC
Publicly-listed Metaplanet announced fresh Bitcoin (BTC) purchases on Monday as BTC went above $87,300, reversing last week’s losses. Metaplanet picked up 330 BTC, bringing its overall holdings to 4,855 BTC, worth over $420 million based on current prices. This is the Japanese firm’s third bitcoin purchase this month, even as broader markets reel from tariff concerns amid a general lack of optimism. Earlier this month, Metaplanet became the tenth-largest public holder of BTC. Additionally, fashion brand ANAP Holdings purchased approximately 16.6591 BTC, valued at around 200 million yen (approximately $1.4 million), last week.
Bitcoin Breaks Out, Surging Over $87K
Bitcoin surged over $87,400 on April 21, reaching its highest price since March 28. The cryptocurrency rebounded 16% from an April 9 low, nearing its all-time high again. The recent gain has propelled Bitcoin to the top end of its sideways channel formed in early March, hinting at a potential breakout. market analysts attribute Bitcoin’s bullish momentum to China’s gold accumulation and overall market conditions, which have increased investor confidence.
Bitcoin Breaks The Barriers, Rises Above $87,000
Bitcoin has once again risen, utilizing its accumulated strength as buying activity increased substantially. The BTC price broke out heavily, trapping bears at local bottoms. This consolidation pattern suggests that Bitcoin may continue to elevate levels beyond psychological barriers. Institutional FOMO, exemplified by MicroStrategy’s entry into the crypto space before the 2021 bull run, is expected to further elevate the BTC price. A rise to $100K seems inevitable in Q2 2025.
Weekly Inflows Return to Bitcoin ETFs as Trump Threatens to Fire Fed Chair Powell
Spot Bitcoin ETFs in the United States saw modest weekly inflows as Bitcoin rallied past $85k. This was driven by expectations of a softer Fed stance on rate cuts amid President Trump’s push to replace the Federal Reserve chair. Data from SoSoValue shows that 12 spot Bitcoin ETFs brought in $15.85 million in net inflows for the week, breaking a two-week outflow streak that saw $886 million leave the funds. From April 14 to 17, Bitcoin ETFs had a mixed but mostly positive run with significant inflows on Tuesday and Thursday, particularly to BlackRock’s IBIT and Bitwise’s BITB.
HIVE Digital Completes 100 MW Site in Paraguay, Shares Jump 2%
Canadian Bitcoin mining company HIVE Digital has completed its flagship facility in Paraguay. The 100-megawatt site is fully energized and equipped, with the capacity to host 5 exahash per second for ASIC miners. Shares of HIVE Digital soared 2% on pre-market trading on April 21 following the announcement. The company is already running 200 PH/s of hashrate using its in-house BUZZ Miners and expects 8,000 units to be online by the end of April. Initial deliveries of Bitmain S21+ miners have started arriving, with more than 20,000 units expected before the end of May. HIVE aims to reach 25 EH/s by fall 2025.
