Metaplanet Doubles Down on Bitcoin Bet: David Bailey Joins Board Following Eric Trump Move
Tokyo-listed Metaplanet makes another power play—adding BitMEX alum David Bailey to its board just weeks after Eric Trump’s controversial appointment. The firm’s aggressive pivot to Bitcoin reserves sparks speculation: Is this a hedge against Japan’s economic spiral or just another corporate bandwagon jump?
Market watchers note the timing: Bailey’s hire coincides with BTC testing key resistance levels. ’When suits start stacking sats, retail FOMO follows,’ quips a veteran trader—before adding, ’or it’s another distraction from their crumbling core business.’
One thing’s clear: In a world where fiat falters, Metaplanet’s betting big on orange-pilling the C-suite. Whether that moves Bitcoin’s needle remains to be seen.
Metaplanet’s Power Moves
Metaplanet, which has accumulated 5,000 BTC over the past year, is emerging as Asia’s answer to Strategy (formerly MicroStrategy), mirroring the latter’s aggressive Bitcoin strategy.
The addition of David Bailey, the CEO of BTC Inc, a parent company of Bitcoin Magazine and organizer of the Bitcoin Conference, is a massive development.
Bailey is a veteran in shaping pro-Bitcoin narratives and public discourse, making him a valuable asset for Metaplanet as it pushes to deepen its institutional footprint in the Bitcoin economy.
As Metaplanet continues to buy Bitcoin BTC $94 726 24h volatility: 0.2% market cap: $1.88 T Vol. 24h: $22.89 B and assembles this high-profile advisory board, investors are watching BTC closely.
Technical Analysis: Bulls in Control for Now
The current chart suggests that Bitcoin may be preparing for another leg upward, but caution is still warranted.
The RSI (Relative Strength Index) stands at 66.79, NEAR the overbought threshold of 70. While this reflects strong bullish momentum, it also suggests the asset is nearing a potential short-term exhaustion point.
However, RSI has not yet diverged from price, so the trend remains intact.
Meanwhile, the MACD (Moving Average Convergence Divergence) continues to flash bullish signals. The MACD line is well above the signal line, with histogram bars showing strong positive momentum. This indicates buyers still dominate the market.
BTC Daily Chart | Source: TradingView
The Fibonacci Retracement Levels show Bitcoin has broken through the 0.236 level at $90,441 and is now hovering just below its recent high of $95,409. If BTC convincingly breaks past this high, the next resistance zone is at $100,000.
If Bitcoin sustains above the 0.236 Fibonacci level and breaches the $95,409 high, momentum from both macro and micro narratives, including Metaplanet’s headline moves, could catapult BTC toward the six-figure milestone.
On the other hand, a failure to break above $95,409 could trigger a retracement toward the 0.382 level ($87,367) or even deeper to the 0.5 Fib level ($84,383) if bearish divergence forms on RSI or MACD begins to flatten.
nextMetaplanet Adds David Bailey to Its Strategic Board After Eric Trump, Will Bitcoin (BTC) Soar?
