The recent decline in Bitcoin prices has led to more cryptocurrency purchases by major players, including both companies and countries.
Bitcoin Purchases by Companies and Countries
In the midst of the recent crypto market crash, during which Bitcoin fell by 5% within 10 hours, both Metaplanet and El Salvador continued to buy Bitcoin. Metaplanet spent $13 million to acquire 135 Bitcoin, while El Salvador increased its holdings by 7 Bitcoin on February 24.
Metaplanet's Investments
With its latest acquisitions, Metaplanet's Bitcoin holdings now total 2,225 Bitcoin, with a market value exceeding $205 million. Led by Simon Gerovich, the company plans to use Bitcoin as a treasury asset, increasing its cryptocurrency investments by 12.7% since April.
Comments from El Salvador
As for El Salvador, its National Bitcoin Office reported that the country now holds 6,088 Bitcoin, valued at $560.7 million. The transaction was completed shortly before Donald Trump announced a 25% tariff on imports from Canada and Mexico, a move that prompted a market decline post-confirmation.
Bitcoin purchases following the price drop highlight Metaplanet and El Salvador’s confidence in the cryptocurrency’s future. Their investments in Bitcoin are seen as a strategic move amidst a volatile market.
