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Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
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Metaplanet, a leading Japanese investment firm, has made headlines with its largest Bitcoin acquisition to date. The company purchased 619.7 BTC for $60 million at an average price of $96,000 per Bitcoin, as disclosed on December 23. This strategic move increases Metaplanet’s total Bitcoin holdings to 1,762 BTC, valued at approximately $168 million.
This acquisition marks a significant leap in Metaplanet’s commitment to Bitcoin, quadrupling its previous record purchase. The firm is reportedly exploring loans and bond issuance to further expand its Bitcoin reserves, positioning cryptocurrency as a core element of its financial strategy.
Institutional investments like this highlight growing trust in Bitcoin as a viable long-term asset. Metaplanet’s bold step could inspire similar moves from other firms, potentially driving sustained demand and price growth in the cryptocurrency market.
Michael Saylor Urges Bezos to Join the Bitcoin Movement
Michael Saylor, co-founder of MicroStrategy and an outspoken Bitcoin advocate, recently urged Amazon founder Jeff Bezos to allocate $600 million into Bitcoin. Saylor’s public plea followed Bezos’ denial of rumors regarding an extravagant $600 million wedding.
This suggestion aligns with ongoing demands from Amazon shareholders, who have proposed that the company invest 5% of its assets into Bitcoin. Saylor’s endorsement underscores increasing calls for tech giants to embrace Bitcoin as part of their financial strategies.
While Bezos has yet to comment on the proposal, Saylor’s public appeal underscores Bitcoin’s growing acceptance among industry leaders. If Bezos or other major corporations were to follow suit, it could ignite a wave of institutional adoption, further bolstering Bitcoin’s market position.
Trump’s Pro-Crypto Advisor Fuels Bitcoin Optimism
President-elect Donald Trump’s appointment of Stephen Miran as Chair of the Council of Economic Advisers has generated optimism within the Bitcoin community. Miran, a staunch supporter of Bitcoin, advocates for its role in economic growth and innovation.
His stance against overregulation suggests the U.S. may adopt a more crypto-friendly environment under Trump’s administration.
Miran’s leadership could reduce regulatory pressures on Bitcoin, encouraging greater institutional adoption and investment. The potential for a more supportive regulatory framework is expected to strengthen market confidence and drive Bitcoin’s price upward in the near term.
Daily Technical Outlook: Bitcoin/USD – December 24, 2024
Bitcoin continues to trade under pressure, consolidating within a symmetrical triangle pattern. The cryptocurrency has found strong support around $92,150, forming a double-bottom area that serves as a key safety net. Immediate resistance is noted at $95,347, with additional hurdles at $97,716 and $99,502.
On the downside, support levels include $92,150, with further targets at $90,344 and $88,631. The RSI currently sits at 41.68, signaling bearish momentum. The 50 EMA, positioned at $96,373, reinforces selling pressure and aligns with the descending trendline.
- Symmetrical Triangle: Strong support holds at $92,150, indicating price consolidation.
- Downtrend Resistance: A descending trendline around $95,350 caps upward momentum.
- Bearish Indicators: RSI at 41.68 and 50 EMA near $96,373 suggest continued selling pressure.
Metaplanet’s record purchase, Saylor’s advocacy, and Miran’s pro-crypto stance collectively highlight a pivotal moment for Bitcoin. Institutional confidence is growing, and regulatory optimism could pave the way for further adoption. For traders, all eyes remain on Bitcoin’s key technical levels to gauge the next price movement.
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