Metaplanet has announced that it has issued 30 billion JPY (roughly $208 million) in 0% ordinary bonds to purchase more Bitcoin (BTC). The move marks the 19th series of ordinary bonds issued by the company. The firm recently bought an additional 1,005 BTC worth around $108 million. The company currently holds a total of 13,350 BTC worth around $1.44 billion.
Metaplanet Goes All In On Bitcoin
Institutions around the world seem to be hoarding BTC. BTC-based ETFs saw inflows of $2.22 billion from June 23 to June 27. The consistent purchases by institutions are a testament to the growing demand for BTC products.
Also Read: Metaplanet Bitcoin Holdings Surpass Tesla After $133 Million Buy
The growing Bitcoin (BTC) purchases align with the asset’s recent resurgence. BTC has reclaimed the $108,000 price level after the recent crash. BTC is trading in the green zone across all time frames. The asset is up 0.9% in the daily charts, 7% in the weekly charts, 1.9% in the 14-day charts, 4.3% over the previous month, and 78.4% since late June 2024.
New All-Time High Around The Corner?
The original crypto is currently down by just 3.2% from its all-time high of $111,814. If BTC continues its current growth pattern, it could hit a new peak very soon.
The crypto market faced considerable volatility in June due to trade wars and global geopolitical tensions. Both factors seem to be easing off. The European Union has said it is open to a new trade deal with the US. The Iran-Israel conflict has also seen rapid de-escalation. The developments could help BTC rise to a new high.
One bearish factor is the Federal Reserve’s decision to keep interest rates unchanged. President Trump has pushed for a rate cut from the Fed. However, we may not see a dip in interest rates anytime soon.