Metaplanet Stock Rises 7.93% Following $13.5 Million Bitcoin Acquisition
Japanese investment firm Metaplanet has increased its Bitcoin holdings by acquiring 162 BTC for approximately $13.5 million, at an average price of $83,123 per BTC. The firm's total BTC holdings now stand at 3,050 BTC, purchased for around $253.7 million at an average price of $83,180.
Following the acquisition announcement, Metaplanet's stock price rose by 7.93% to 3,605 JPY. Additionally, the company’s Board approved the issuance of its 8th Series of Ordinary Bonds to EVO FUND, raising $18.2 million aimed at further Bitcoin purchases.
In comparison, MicroStrategy plans to raise $21 billion for Bitcoin acquisitions.
BTC Price Outlook
- Bitcoin is currently trading around $82,630, with a 2% gain over the last 24 hours.
- The RSI is at 38.25, indicating potential oversold conditions.
- A MACD crossover may suggest a reversal if buyers return.
- Key resistance lies at $85,000; a drop below $80,000 could increase selling pressure.
- Support levels are identified at $79,270 and $69,450.
- Whales have accumulated over 65,000 BTC in the past month despite a 25% pullback from the all-time high of $109,000.
Standard Chartered Exec’s Bullish Prediction
Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, attributes Bitcoin's volatility to broader risk asset weaknesses rather than specific crypto issues. He predicts Bitcoin could reach $200,000 by the end of 2025 amid macroeconomic uncertainties.