Metaplanet announced it had issued 30 billion JPY ($208 million) of 0% bonds in order to buy more Bitcoin (BTC). It is Metaplanet’s 19th issuer of bonds. Recently, the firm purchased an extra 1,005 BTC valued at around $108 Million. The firm currently owns 13,350 BTC, worth approximately $1.44 Billion.
BTC is being hoarded by institutions around the globe. BTC-based exchange traded funds (ETFs) saw a rise inflows From June 23 through June 27, the company generated $2.22 Billion. These consistent institutional purchases are proof of a growing demand for BTC.
You may also like: Metaplanet Bitcoin Holdings Surpass Tesla After $133 Million Buy
Bitcoin’s (BTC), which is a digital asset, has recently experienced a resurgence. BTC’s price has recovered to $108,000 after its recent crash. BTC’s price is in the “green” zone on all time frames. The asset has risen by 0.9% on the daily chart, 7.5% in the weekly chart, 1.9% in 14-day charts and 4.3% in comparison to the previous month. It is also up 78.4% from late June 2024.
A New All Time High is Just Around The Corner!
Original crypto has fallen by only 3.2% since its highest point of $111 814. BTC’s current growth rate could lead to a very rapid new peak.
In June, the crypto market was characterized by high volatility due to geopolitical and trade tensions. The two factors appear to be decreasing. The European Union said that it was open to new US-EU trade deals. The Iran-Israel dispute has descended rapidly as well. BTC could reach new heights as a result of the developments.
Federal Reserve decision to leave interest rates the same is one factor that’s negative. Trump wants the Fed to lower rates. We may not be seeing a drop in interest rates any time soon.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
