Since the beginning of this year, Bitcoin prices have seen a tremendous surge reaching new heights, when writing it was trading at $96,171 with a monthly surge of 32 percent.
Following a mind-blowing spike in BTC trading price dozens of publicly traded Companies have made billions in profits and yield and some also increased their digital assets stake.
In a recent development, a Japanese giant, Metaplanet has intended its plan to gather 9.5 billion in Japanese Yen, with the stock acquisition to buy more Bitcoins.
Currently, Metaplanet holds 1,142 BTCs worth roughly $110 million. After the announcement, it is expected that the company might entirely spend the yet-to-be-gathered amount on Bitcoin buying.
The company’s statement dated November 28, 2024, announced its plan to issue a 12th Stock Acquisition Rights to EVO Fund, an investment management firm based in the Cayman Islands, through a third-party allotment of 29k units.
In the same statement, the company said ” The majority of the funds raised this time will be strategically allocated for the purchase of additional Bitcoin.”
Metaplanet argues that the prominence of Bitcoin continues to grow, as it registered its all-time high of $99,645.39 on November 22, 2024.
“We have made it clear that we intend to utilize debt and periodic stock issuance to systematically increase our Bitcoin holdings while reducing exposure to a depreciating yen,” Metaplanet noted.
Next Possible ATH of Bitcoin!
Bitcoin, one of the most prominent cryptocurrencies in the market, has proved its relevance in the digital finance market. In its early days, BTC was seen as null and was largely claimed to be a bogus currency. But with the passing of time, it succeeded in making a unique spot worldwide especially in the United States after the historical victory of Donald Trump.
Source: CoinMarketCap
Bitcoin seems to be testing new resistance as it continues to break its prior resistance somewhere near $65. Once it successfully surpassed $65k it hasn’t looked back and until publishing it was trading above 20, 50, 100, and 200-day exponential moving average.
As per broader claims, BTC could soon claim the much-anticipated mark of $100k in the next few sessions, the probability is that it could reach here by the first week of 2025. However on the other hand after the victory top executives of known companies have even predicted that it has the potential to cross $250k by the end of the next year.
It is worth noting that Trump has made many promises for the crypto enthusiasts and especially for Bitcoiners, yet any favoring decision over any changes or upgradation in rules and regulations is expected, it is speculated that once Trump joins his office he might direct the administration to structure a good and favorable set of rules for the cryptos/ and digital asset market.
