Will Bitcoin Price Recover As Metaplanet Purchases 1,088 BTC?

Bitcoin’s price is currently around $105,000 with support at $102,000 and resistance at $111,900. Metaplanet has recently purchased 1,088 BTC, now holding 8,888 BTC total. The firm aims to acquire 10,000 BTC by the end of 2025 as corporate adoption of Bitcoin continues to grow, despite mixed reactions from companies like Meta.

Bitcoin’s current price is hovering around the $105,000 mark, showing signs of potential recovery as company Metaplanet has recently purchased an additional 1,088 BTC. This acquisition raises questions about whether corporate actions like these could push Bitcoin past the significant milestone of $110,000. After reaching an all-time high of $111,800, the digital currency has shown volatility resulting in its current position, prompting traders to look closely at support levels around $102,000 and $97,600.

The latest figures indicate that Metaplanet has substantially increased its Bitcoin reserves, now holding a total of 8,888 BTC. The move involved an investment of around 16.885 billion Japanese yen, equating to roughly $117.5 million. At an average purchase price of about 15.5 million yen per Bitcoin, or around $108,051, Metaplanet is clearly positioning itself for long-term gains.

By the end of 2025, Metaplanet aims to boost its holdings to 10,000 BTC, having gathered 7,126 BTC so far this year. This recent buying spree comes hot on the heels of a successful fundraising effort, where the company raised $50 million in zero-interest bonds. This demonstrates an ongoing strategic focus on Bitcoin within its treasury management practices.

Metaplanet first signalled its intent to hold Bitcoin back in April 2024, and since then has become the largest Bitcoin holder among public companies in Asia, ranking within the top ten worldwide. Simon Gerovich, the CEO of Metaplanet, acknowledged the influence of MicroStrategy’s CEO Michael Saylor on their corporate strategy related to Bitcoin.

Market analysts are keeping a close eye on Bitcoin’s fluctuations around the $105,000 benchmark. Attention is being paid to whether it can regain a foothold above $110,000 or if it will slip lower. Experts, including AlphaBTC, have noted that Bitcoin might be in a correction phase that could extend into mid-June. Those who follow the charts are wary of potential declines if the price sinks below $102,000, which could subsequently lead to it testing the $97,600 mark.

If a downward trend persists, concerns rise that Bitcoin could see a yearly low around $92,000. However, if buying interest picks up at that point, there’s hope it could work its way back to previous heights. Analysts speculate that should Bitcoin surpass $108,000, it might even attempt to break through the strong resistance at $111,900.

Meanwhile, corporate appetite for Bitcoin is clearly gaining traction, as demonstrated by Metaplanet’s actions. In addition to its acquisition, Strategy, which was once known as MicroStrategy, holds an impressive 580,250 BTC, bolstered by a recent buy adding 4,020 BTC to its portfolio. Trump Media & Technology Group has also amassed an impressive $2.4 billion towards its Bitcoin strategy, reflecting the increasing institutional interest.

Nonetheless, not every company is jumping on board. Meta’s shareholders recently shot down a proposal to explore adding Bitcoin to balance sheets, garnering only 0.08% of votes in favour. Mark Zuckerberg’s dominant voting stake likely influenced this decision. Following Metaplanet’s announcement, its stock on the Tokyo Stock Exchange perked up, gaining 2.34% and reaching 1,094 yen per share, hinting at investor confidence amid the Bitcoin buy.