Latest news with #Metaplanet
Yahoo
19 hours ago
- Business
- Yahoo
A South Korean Biotech Firms Gets $183.3M Funding to Build Bitcoin Treasury
Bridge Biotherapeutics (288330), a South Korean biotech company, may be looking to become the country's answer to Strategy (MSTR) or Metaplanet (3350) by adopting a bitcoin treasury strategy. Seongnam-based Bridge has received a 25 billion won ($183.3 million) backing from crypto investment firm Parataxis, with which it will build a BTC treasury. Bridge will change its corporate name to Parataxis Korea and continue to trade on the South Korean stock market KOSDAQ, according to an announcement on Friday. "Inspired by the growing interest in BTC treasury strategies seen in companies like Strategy in the U.S. and Metaplanet in Japan, we believe institutional interest in this space is increasing globally," Parataxis partner Andrew Kim said. More and more companies are copying the playbook of Strategy, which owns more than 2.8% of all the bitcoin that will ever exist. Tokyo-listed hotel operator turned bitcoin investor Metaplanet holds 10,000 BTC ($1.04 billion), making it the largest holding of a public company outside North America. These firms have witnessed dramatic appreciation in their share price as traders cash in on them as a bitcoin-proxy asset. Bridge joins fellow healthcare-adjacent companies Semler Scientific (SMLR) and Prenetics Global (PRE) in adopting a bitcoin treasury strategy. Parataxis is currently preparing to go public in the U.S. via a special purpose acquisition company (SPAC), SilverBox Corp IV (SBXD). Bridge shares closed over 20.5% higher on Friday at 943 won ($0.69).
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Business Standard
4 days ago
- Business
- Business Standard
Bitcoin consolidates near $107k levels; ETH struggles despite whale support
The crypto market is showing a mix of optimism and caution. The flagship currency, Bitcoin (BTC), briefly climbed to $108,915 amid strong institutional interest that boosted market sentiment. However, profit-taking at higher levels pulled the price back toward the $107,000 mark. Market analysts suggest that Bitcoin's current consolidation reflects short-term seller control. Bitcoin was quoted trading at around $107,231.21, up 0.56 per cent at 11:47 AM on Tuesday, June 17, with a 24-hour trading volume of $53.98 billion. Bitcoin's market capitalisation stood at $2.13 trillion, the highest among all cryptocurrencies. The world's most popular cryptocurrency has fluctuated in the range of $106,219.74–$108,915.38 in the last 24 hours, according to data from CoinMarketCap. Institutional moves, technical outlook Strategy's $1.05 billion acquisition of 10,100 BTC and Metaplanet's crypto reserves crossing the 10,000 BTC mark, Edul Patel, Co-founder and CEO of Mudrex, said, has helped fuel bullish momentum in the asset, despite geopolitical tensions. "At the current levels, Bitcoin faces major resistance at $110,300, while support stands at $105,800," said Patel. Riya Sehgal, Research Analyst at Delta Exchange, on the other hand, believes that Bitcoin, after facing rejection near $110k, is consolidating between $106k–$108k, with lower highs and declining volume reflecting short-term seller control. "Holding above $106k keeps the structure stable, but a break below could open the way to $104,000 and $101.5k. A move above $108k could reopen the path to $110k," said Sehgal. Ethereum whales accumulate as price struggles Meanwhile, Ethereum (ETH) whale accumulation jumped by over 818,000 ETH, marking the highest daily inflow in more than six years, supporting ETH above $2,500. That said, the analysts believe that ETH remains under pressure after failing to reclaim the $2,620–$2,640 range, with a clear lower high–lower low pattern. At last check, Ethereum was trading at around $2,581.35, down 1.36 per cent, with a trading volume of $26 billion. Ethereum has traded in the range of $2,528.20–$2,680.09 in the last 24 hours. If Ethereum slips below the $2,560 level, the next supports, Sehgal said, are $2,500 and $2,440. "However, a bounce from current levels could signal early strength." ETF flows on June 16 showed strong institutional appetite — BTC ETFs saw $408.6 million in net inflows and ETH ETFs $21.4 million. Altcoins trade mixed Among other popular cryptocurrencies, Hyperliquid (HYPE) was trading lower by 4.46 per cent, Solana (SOL) was down 2.10 per cent, and Cardano (ADA) down by 1.72 per cent. On the other hand, Ripple (XRP) was trading higher by 2.68 per cent, and Binance Coin (BNB) gained 0.53 per cent.
Time of India
4 days ago
- Business
- Time of India
Bitcoin steady at $107k amid institutional buying; Altcoins trade mixed
Bitcoin experienced a surge, briefly reaching $108,915, fueled by significant institutional investments from Strategy and Metaplanet. Ethereum also saw substantial whale accumulation, maintaining its position above $2,500. Market volatility persisted due to geopolitical tensions and ETF-related developments, with analysts closely monitoring key resistance and support levels for both Bitcoin and Ethereum. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS XRP 192.29 ( 2.01 %) Buy BNB 56,606 ( 0.35 %) Buy Bitcoin 9,189,523 ( -0.23 %) Buy Ethereum 222,208 ( -1.58 %) Buy Solana 13,174.2 ( -2.48 %) Buy Tired of too many ads? Remove Ads The cryptocurrency market traded mixed on Tuesday, with Bitcoin and Ethereum showing modest gains while several altcoins saw sharp divergence in price action amid continued institutional interest and broader macro 10:53 am IST, Bitcoin was trading 0.7% higher at $107,231 after briefly touching an intraday high of $108,915. Ethereum edged up 0.1% to $2,582. The total global cryptocurrency market capitalisation rose by 0.57% to $3.34 trillion, according to data from altcoins, XRP gained 3%, Tron 2%, Chainlink 1%, and Uniswap jumped 4.2%. On the downside, Solana dropped 2.5%, Dogecoin fell 1.8%, and Cardano declined 1.2%.BNB, Stellar, and Sui saw marginal movements, while Avalanche also slipped 1.3%.Bitcoin's momentum was boosted by recent large-scale institutional moves. Edul Patel, Co-founder and CEO of Mudrex, noted that 'Bitcoin briefly reclaimed the $108,000 level as strong institutional interest lifted market sentiment,' pointing to Strategy's $1.05 billion acquisition of 10,100 BTC and Metaplanet's reserves crossing 10,000 BTC as key also saw notable accumulation activity. 'Whale accumulation in ETH jumped by over 818,000 coins, marking the highest daily inflow in over six years,' Patel added, helping keep the asset above $2, market also reacted to geopolitical developments and fresh ETF-related news. The CoinSwitch Markets Desk highlighted that Bitcoin dipped overnight to $106,400 amid rising tensions in the Middle East, but quickly recovered after Trump Media & Technology Group filed with the U.S. SEC for a dual BTC and ETH ETF.'ETH futures open interest hit a yearly high of $36.56 billion, with the token testing a long-standing resistance zone,' CoinSwitch added. Meanwhile, Tron made headlines after announcing plans to go public in the U.S. via a reverse merger with Nasdaq-listed SRM Sehgal, Research Analyst at Delta Exchange, said Bitcoin is 'consolidating between $106K–$108K with lower highs and declining volume,' suggesting short-term seller dominance. She noted that a move below $106K could push prices towards $104K and $101.5K, while a breakout above $108K could retest the $110K Ethereum, she noted the asset 'remains under pressure' after failing to break the $2,620–$2,640 zone. 'If $2,560 breaks, the next supports are $2,500 and $2,440,' she added. ETF flows on June 16 remained strong, with BTC ETFs seeing $408.6 million in net inflows and ETH ETFs drawing $21.4 Vishwanath, Co-founder and CEO of Unocoin, said Bitcoin is 'holding steady around $107,000' despite global uncertainty. 'The $108K–$110K range is now a crucial resistance zone, while support is firm near $104K. A breakout above $110K could trigger a rally towards $115K.'He added that the Relative Strength Index (RSI) remains in healthy territory, indicating room for further upside, though the market continues to remain sensitive to macro events.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Japan Times
5 days ago
- Business
- Japan Times
Bitcoin buyer Metaplanet sees market value top ¥1 trillion amid crypto rally
Japan's hotelier-turned-Bitcoin-buyer Metaplanet has overtaken memory chipmaker Kioxia Holdings in terms of market capitalization, after the stock soared nearly 400% in less than two months riding a global crypto rally. Metaplanet's market value surpassed ¥1 trillion ($6.9 billion) for the first time on Monday, extending gains that also took it past chipmaker Screen Holdings and Tokyo Metro, operator of one of the world's biggest subway systems. The stock rocketed 26% Monday as it announced its purchase of ¥16.9 billion worth of Bitcoin, which hit a record of $111,980 on May 22. Metaplanet has plans to raise about $5.4 billion to add to its Bitcoin stockpile. The company is among a growing cadre of listed entities globally that have followed the approach adopted by Strategy, the software-maker that has amassed more than $60 billion of the original digital asset. Over a five-year period, Metaplanet shares have soared more than 3,000%. But not everyone is convinced Metaplanet's rally will last. Short positions have grown to about 23% of its free float as of last Thursday, the largest among Tokyo-listed companies of at least that size, according to data from S&P Global. Listed on the Tokyo Stock Exchange's Standard section for medium-size companies and basic governance standards, Metaplanet is the largest stock on the bourse without any analyst coverage, data shows.
Yahoo
5 days ago
- Business
- Yahoo
Metaplanet Overtakes Coinbase With 10K BTC, Becomes No. 9 Bitcoin Holder
Metaplanet (3350), the Japanese company that's committed to buying bitcoin BTC, boosted its holdings to 10,000 BTC, overtaking crypto exchange Coinbase (COIN) to now own the ninth-largest stash among publicly traded companies. The Tokyo based company bought 1,112 BTC for $117.2 million at an average price of $105,435 per bitcoin, CEO Simon Gerovich posted on X. The purchase lifted its holdings above Coinbase's 9,267, according to data on As of June 16, Metaplanet's cumulative bitcoin investment stands at roughly $947 million, with an average acquisition cost of $94,697 per BTC. It started down the bitcoin accumulation path in April 2024. A standout metric in Metaplanet's performance is its bitcoin yield, a proprietary measure that tracks the percentage change in the ratio of total BTC holdings to fully diluted shares outstanding. The company has recorded strong figures in recent quarters: Q3 2024 (July to September): 41.7% Q4 2024 (October to December): 309.8% Q1 2025 (January to March): 95.6% Q2 2025 to date (April to June 16): 87.2% To fund additional BTC purchases, Metaplanet issued $210 million in zero-percent ordinary bonds. Market response to the company's aggressive bitcoin strategy has been positive, with shares closing 26% higher on Monday, reaching 1,895 yen.
