Tag: Buy

Metaplanet raises $130M to buy more Bitcoin and expand income operations

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Key Takeaways Metaplanet successfully executed a $130 million Bitcoin-backed loan. The proceeds will be used to acquire Bitcoin and support its digital asset strategy. Share this article Metaplanet, a publicly traded Japanese company focused on Bitcoin treasury strategies, has raised $130 million through a Bitcoin-backed loan, according to a Tuesday announcement. Including this loan, the company has borrowed $230 million out of a $500 million facility. The company plans to use the proceeds to accumulate more Bitcoin, expand its Bitcoin income-generation business, and conduct share repurchases. The move reinforces Metaplanet’s…

Will Bulls Buy The Dips

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Key points: Bitcoin has been facing intense selling pressure, opening the doors for a fall to the crucial support at $73,777. Several major altcoins have slipped below their support levels, indicating that bears remain in firm control. Bitcoin (BTC) attempted a recovery on Friday, but the bears continued to exert pressure, bringing the price as low as $80,000 at Binance. The sentiment remains weak as US stock markets deepened their correction this week amid concerns about excessive valuations in the artificial intelligence sector. Additionally, expectations of a December rate cut…

Bitcoin Whale Sells $1.3B BTC As Institutions Buy 40% Bitcoin ETFs

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Owen Gunden, one of the richest early Bitcoin holders, has sold his entire Bitcoin position as retail investors flee the market and institutions continue increasing their share of spot Bitcoin exchange-traded funds. The wallet tagged as Owen Gunden by blockchain data platform Arkham transferred his last 2,499 Bitcoin (BTC) worth $228 million to cryptocurrency exchange Kraken on Thursday. In total, Gunden’s wallet has sold 11,000 Bitcoin worth around $1.3 billion since Oct. 21, liquidating his entire Bitcoin holdings, according to Arkham. Gunden’s transactions come amid growing concerns over the end…

Metaplanet plans to raise $135 million in MERCURY preferred equity to buy more Bitcoin

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Key Takeaways Metaplanet will issue Class B Preferred Shares to raise substantial capital in order to accelerate its transition into a Bitcoin Treasury Corporation. With an issue price of ¥900 per share, the company expects to raise over ¥21 billion before expenses and ¥20.4 billion in net proceeds. Share this article ‘Asia’s MicroStrategy’ Metaplanet plans to raise over ¥21 billion, or approximately $135 million, via an allotment of 23.6 million MERCURY shares to acquire more Bitcoin. MERCURY is the company’s new Class B preferred equity. The estimated net proceeds of…

BTC’s Drop To $90K Signals A Deep Capitulation Phase, And Buy Signal

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Bitcoin’s (BTC) drawdown on Monday pushed the asset into a 26.7% loss, narrowly overtaking the 26.5% slide seen in April, and marking the steepest correction of the current bull market. The move red-lined multiple market structure indicators, suggesting the current correction could be a final leverage washout phase. Bitcoin bull market correction levels. Source: CryptoQuant Key takeaways: Bitcoin’s 26.7% correction is now the largest of the cycle. The Crypto Fear & Greed index shows ‘Extreme Fear’ among investors, but as a counterindicator, it could be a sign that Bitcoin is…

US Won’t Buy Bitcoin Until Other Countries Start

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The US government is unlikely to start accumulating Bitcoin for its strategic reserve until other nations make the first move, says crypto entrepreneur Mike Alfred. Alfred said in a podcast published on Tuesday that the US government will start putting Bitcoin (BTC) into its reserve created earlier this year “when there is enough pressure externally.”  “Once the US government recognizes that others are taking action before them, that’ll probably catalyze additional action in the future,” he said, adding that the timeline for the US government’s action is up in the…

ETH Enters Buy Zone Under $3K as Liquidity Resets

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Key takeaways: Ether’s 20% monthly decline has pushed it into a clear daily downtrend, retesting $3,000 for the first time since July. The Mayer Multiple falling below 1 signals a historically strong accumulation zone, resembling past bottoming phases. Leveraged liquidity has reset, but clusters at $2,900 and $2,760 warn of further volatility before a potential recovery. Ethereum’s native token, Ether (ETH), has slipped nearly 20% in November, from $3,900 to retesting the $3,000 level on Nov. 17, a price last seen on July 15. The drawdown has pushed ETH into…

El Salvador Claims $100M BTC Dip Buy Despite IMF Deal

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El Salvador, the first country to adopt Bitcoin as legal tender, says it has bought more than $100 million in BTC despite pledging to the International Monetary Fund (IMF) to limit public exposure to the asset as part of a loan agreement. According to data from El Salvador’s Bitcoin Office, the government acquired 1,090 Bitcoin (BTC) worth more than $100 million on Tuesday. The purchase comes after the IMF said in a July report that the Central American nation had not bought any new Bitcoin since the organization approved a…

Libra Scandal Wallets Buy $61.5M In Solana After Draining Memecoin

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Wallet addresses tied to the controversial Libra (LIBRA) token are still pulling money from the failed memecoin and rotating it into other cryptocurrencies despite asset freezes and ongoing fraud investigations. The wallets associated with the Libra token — which was controversially endorsed by Argentine President Javier Milei — have withdrawn nearly $4 million in liquidity from the memecoin to buy the Solana (SOL) dip. After the withdrawal, two cryptocurrency wallets associated with the Libra team acquired $61.5 million worth of SOL at an average price of $135, according to blockchain…

LevelField Financial Receives Approval to Buy Chicago Bank

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Digital asset-focused fintech firm LevelField Financial said it has secured conditional regulatory approval to acquire Chicago-based Burling Bank, marking one of the most notable crypto-banking acquisitions in recent months. The move could see LevelField become the first Federal Deposit Insurance Corporation-insured chartered bank to offer certain crypto-integrated banking services across all US states and territories, LevelField said in a statement on Monday. Details of the deal weren’t disclosed. The approval from the Illinois Department of Financial and Professional Regulation puts Burling Bank one step closer to being renamed LevelField Bank.…