Metaplanet and El Salvador Buy More Bitcoin Amid Market Crash

• Metaplanet spent $13 million (or around $96,185) for 135 Bitcoin.
• With its most recent acquisition, the Japanese company’s BTC holdings now reach 2,225.

Amid the recent crypto market crash—Bitcoin fell as much as 5% in a span of 10 hours—both Metaplanet and El Salvador piled on the Bitcoin.

Metaplanet spent $13 million (or around $96,185) for 135 Bitcoin. While El Salvador, a country that stacks Bitcoin, bought 7 Bitcoin on February 24 (when the cryptocurrency was worth about $94,050). These occurred just before Bitcoin’s price dropped below $91,000 in the early hours of February 25.

Although crypto market sentiment has fallen to its lowest point in more than five months, Bitcoin has declined further and is now trading around $89,663. With its most recent acquisition, the Japanese company’s Bitcoin holdings now reach 2,225 Bitcoin. With a market value of more than $205 million.

Since announcing in April that it would accept Bitcoin as a treasury asset, the Simon Gerovich-led firm’s investment in the cryptocurrency has increased by around 12.7%, with an average purchase price of $81,834.

But Metaplanet pointed out that their “BTC Yield”—the percentage change from one period to another in the ratio of a company’s Bitcoin holdings to its diluted shares —is up 23.3% this quarter, putting them on pace to hit their Q1 aim of 35% each quarter.

El Salvador Buys the Dip

Data from BitBo’s BitcoinTreasuries.NET indicates that Metaplanet is the fourteenth biggest corporate Bitcoin holder globally as of right now. Meanwhile, the El Salvador National Bitcoin Office said that the country’s Bitcoin purchases were six times more than its daily average of one Bitcoin.

The transaction was made only one hour before Trump said that the United States would still impose a 25% tariff on imports from Canada and Mexico, and the cryptocurrency markets promptly declined after his confirmation. With its most recent acquisition, the Central American nation now owns 6,088 Bitcoin, which is valued at $560.7 million.

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