Metaplanet and El Salvador significantly boosted their Bitcoin holdings despite the 5% drop in cryptocurrency value on February 25.
Metaplanet's Bitcoin Purchase
Japanese firm Metaplanet announced the acquisition of 135 Bitcoin for $13 million at around $96,185 per coin. The total company holdings now amount to 2,225 Bitcoin, valued at over $205 million. With a 12.7% return on these investments, the company reported a 23.3% quarterly rise in its "BTC Yield" metric.
El Salvador's New Bitcoin Acquisition
Meanwhile, El Salvador purchased 7 Bitcoin, exceeding its usual one coin per day. The total reserve of the country now stands at 6,088 Bitcoin, valued at $560.7 million. This comes amid policy amendments as part of a $1.4 billion IMF loan deal, where Bitcoin acceptance by merchants is no longer mandatory.
Market Reactions to Cryptocurrency Changes
As the cryptocurrency market took a hit, several Bitcoin ETFs faced significant outflows. The Fidelity Wise Origin Bitcoin Fund saw an outflow of $247 million, while BlackRock's iShares Bitcoin Trust experienced a withdrawal of $159 million, occurring alongside tariff plans announced by the US.
Despite the notable drop in Bitcoin's value, Metaplanet and El Salvador solidified their positions in the cryptocurrency realm. These actions demonstrate confidence in the future potential of digital currencies, despite current valuation fluctuations.
