Metaplanet and El Salvador Expand Bitcoin Holdings as Market Sentiment Shifts to Neutral
Japanese investment firm Metaplanet and the crypto-friendly nation of El Salvador both increased their Bitcoin holdings on Monday, coinciding with the Crypto Fear & Greed Index moving back to a neutral reading after several days categorized as “fear.”
Metaplanet Boosts Bitcoin Reserve
Metaplanet disclosed it purchased an additional 136 Bitcoin (BTC), bringing its total holdings to 20,136 BTC, currently valued at more than $2.2 billion. The company’s CEO, Simon Gerovich, previously stated a long-term objective to accumulate 210,000 Bitcoin by 2027. Achieving this target would position Metaplanet as the second-largest publicly traded Bitcoin holder, behind Strategy, according to data from Bitbo.
Currently, Metaplanet ranks as the sixth-largest Bitcoin treasury globally and the largest in Japan, having paid approximately 16,554,535 Japanese yen (about $111,830) per coin.
Stock Performance and Capital Raising Plans
Following Metaplanet’s initial Bitcoin purchase announced on July 22, 2024, its shares surged 19% to $1.10. However, subsequent Bitcoin acquisitions have not sustained similar momentum; the company’s stock declined nearly 3% to $4.65 in the latest session, although it remains up 92.45% year-to-date.
In response to recent stock price pressures affecting its capital-raising capabilities, Metaplanet announced plans for an $880 million public share offering in overseas markets scheduled for August 27.
El Salvador Marks Bitcoin Day with Additional Purchase
El Salvador’s President Nayib Bukele confirmed the country acquired 21 more Bitcoin as part of Bitcoin Day celebrations, commemorating the law that made Bitcoin legal tender in September 2021. This purchase increased El Salvador’s total Bitcoin holdings to 6,313 BTC, as reported by the nation’s Bitcoin Office.
Notably, an International Monetary Fund report from July indicated El Salvador had not made Bitcoin purchases since signing a $1.4 billion loan agreement in December 2024, which imposed restrictions on new acquisitions.
Michael Saylor Signals Further Bitcoin Buying
Michael Saylor, executive chairman of Strategy, the largest corporate Bitcoin holder with 636,505 BTC, hinted at another imminent purchase in a social media post on Sunday. Saylor shared a screenshot of Strategy’s Bitcoin portfolio with the caption “needs more orange,” a phrase often preceding additional Bitcoin buys.
Strategy’s stock (MSTR) has experienced volatility in August but rose 2.5% to $335.87 in the latest session, maintaining a nearly 12% gain year-to-date.
Market Sentiment Shifts
The Crypto Fear & Greed Index returned to a neutral reading of 51 after three days in the fear zone, reflecting a tentative improvement in investor sentiment towards Bitcoin and the broader cryptocurrency market.
FinOracleAI — Market View
The renewed Bitcoin purchases by both Metaplanet and El Salvador, coupled with signals from Strategy’s Michael Saylor, suggest cautious confidence among major holders amid a stabilizing market sentiment. However, Metaplanet’s share price decline and the necessity for a sizable capital raise indicate potential financial pressures that could affect its buying capacity. Investors should monitor upcoming capital raises and broader sentiment indicators to assess whether accumulation trends will persist.
Impact: positive
