Japanese investment company Metaplanet has become the world’s ninth-largest corporate holder of Bitcoin after acquiring 1,088 BTC for $117.9 million at an average price of $108,400 per coin. This purchase has surpassed Galaxy Digital Holdings, which holds 8,100 BTC. Metaplanet now holds over 8,888 BTC as part of its strategy to promote Bitcoin adoption across Asia. The acquisition occurs against a backdrop of rising financial uncertainty, with some analysts predicting Bitcoin's potential to reach over $200,000 based on current market conditions. Bitcoin experienced a record high of over $112,000 on May 22, although it has since retraced to $105,464. Analysts suggest that the current consolidation phase could lead to further upward movement as demand stabilizes. Meanwhile, concerns are rising regarding the inflated prices of Bitcoin-related stocks, indicating a possible bubble in the market.

Source 🔗