Bitcoin Price Climbs 2% Following Major Purchases by Metaplanet and MicroStrategy

Bitcoin price rose over 2% following Metaplanet’s acquisition of 330 BTC and hints from MicroStrategy’s Saylor about further purchases. Metaplanet’s holdings now total 4,855 BTC with a substantial year-to-date yield, while Saylor’s hints suggest continued acquisitions by MicroStrategy, which has realised gains exceeding $10.66 billion since 2020.

Bitcoin’s value increased by over 2% in the past 24 hours, attributed to two significant events: Metaplanet’s announcement of an additional purchase of 330 BTC and hints from MicroStrategy’s executive chairman Michael Saylor regarding a forthcoming Bitcoin acquisition. The price subsequently moved from a low of $83,976.85 to an intraday high of $87,679.23, before settling at approximately $87,520.03 around 1:09 a.m. EST.

The Japan-based investment firm Metaplanet confirmed today that it has acquired another 330 BTC at an average price of $85,605 per bitcoin, amounting to a total investment of about $28.2 million. This purchase is the third for Metaplanet within this month, bringing its total Bitcoin holdings to 4,855 BTC. CEO Simon Gerovich announced a remarkable BTC yield of 119.3% year-to-date.

Simultaneously, Michael Saylor hinted at further action regarding Bitcoin for MicroStrategy. Via a post on X, he featured a screenshot of the SaylorTracker chart with the caption “Insufficient Orange”, a phrase that has previously foreshadowed additional BTC purchases. Recent activity includes a significant buy on April 14, where MicroStrategy procured 3,459 BTC at an average price of $82,618, reinforcing their status as the largest corporate Bitcoin holder.

Since commencing their aggressive Bitcoin acquisition strategy in 2020, MicroStrategy has realised an unprecedented more than 29% unrealised gain, equating to over $10.66 billion in profits. This strategy exemplifies their commitment to maximising Bitcoin as a critical asset in their portfolio.