Metaplanet and El Salvador Add to Bitcoin Reserves Amid Market Shift
Japanese investment firm Metaplanet and the government of El Salvador each purchased more Bitcoin on Monday. The acquisitions occurred as the Bitcoin Fear & Greed Index moved to a neutral reading after several days spent in a fearful zone, signaling cautious optimism among market participants.
Metaplanet Raises Exposure, Sets Ambitious Long-Term Target
Metaplanet disclosed the purchase of an additional 136 Bitcoin, pushing its total holdings to 20,136 BTC, currently valued at over $2.2 billion. The company paid approximately 16,554,535 Japanese yen (about $111,830) per coin for this latest acquisition. Metaplanet is now the sixth-largest Bitcoin treasury globally and the top holder among Japanese public companies, according to Bitbo data tracking 186 corporate treasuries.
In June, Metaplanet CEO Simon Gerovich outlined a plan for the company to reach a significant holding target by 2027. If achieved, Metaplanet would become the second-largest public holder of Bitcoin, behind only Strategy.
Metaplanet first disclosed a Bitcoin purchase on July 22, 2024, which saw its stock price jump by 19% to $1.10. However, the momentum from subsequent buys has slowed. In the most recent trading session, the share price declined about 3% to $4.65, though shares remain up over 92% for the year. The firm also reported plans to raise another $880 million through a public share offering in overseas markets later this month following strain on its capital-raising strategy.
El Salvador Marks Anniversary with More Bitcoin
President Nayib Bukele confirmed El Salvador bought an additional 21 Bitcoin to celebrate Bitcoin Day, bringing the country�s total reserves to 6,313 BTC. The announcement coincides with the anniversary of Bitcoin becoming legal tender in the nation, a law enacted in September 2021.
El Salvador�s purchases come amid recent scrutiny from the International Monetary Fund, which stated in July that the country had paused new Bitcoin buys after signing a $1.4 billion loan agreement in December 2024 requiring investment scale-backs.
Corporate and Public Holdings Grow as Sentiment Improves
On social media, Strategy chairman Michael Saylor hinted at further Bitcoin purchases for the company�s treasury, posting a screenshot of its holdings with the caption, �needs more orange.� Strategy remains the largest corporate Bitcoin holder with 636,505 BTC.
The company�s share price (MSTR) rose 2.5% in the last trading session to $335.87, maintaining nearly a 12% gain year to date despite shedding some gains in August.
Market Sentiment Turns Neutral
The Crypto Fear & Greed Index rebounded to 51 on Monday, marking a return to neutral market sentiment after three days in the fear zone. The developments highlight ongoing interest in Bitcoin from both institutional and national players, even as broader market uncertainty persists.
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