The post Metaplanet and El Salvador Expand Bitcoin Holdings Amid Dip appeared on BitcoinEthereumNews.com.

Metaplanet and El Salvador increased their Bitcoin holdings before prices plummeted below $91K.  Bitcoin price decreased 5% in 10 hours, reaching $89,663, on weakening market mood. Metaplanet increased its Bitcoin reserves by buying 135 BTC worth $13 million, bringing its reserves to 2,225 BTC worth more than $205 million. Simon Gerovich-run Japanese company has continued to add to its Bitcoin holdings since taking it on as a treasury investment in April 2024. Even amidst market volatility, its BTC return, defined as a percentage change in Bitcoin balances on diluted shares, has risen 23.3% quarter to date, positioning the company well toward meeting its Q1 target of 35%. El Salvador also seized the dip, buying 7 BTC on February 24 when Bitcoin was at around $94,050. The acquisition was six times the country’s average rate of Bitcoin purchases per day, as reported by the country’s National Bitcoin Office. With this new addition, El Salvador now has 6,088 BTC worth around $560.7 million. Bitcoin Accumulation Increases Despite Market Drop The buys were made just ahead of the price of Bitcoin crashing below $91,000 in early morning trading on February 25. In 10 hours, Bitcoin fell by 5%, sending the market mood to its weakest level in more than five months. The downward move extended, with Bitcoin dropping lower to about $89,663. As of writing BTC experiencing a bloodbath and fell to 3.05% in the previous 24 hours and trading at $86,580. Data from BitcoinTreasuries.NET ranks Metaplanet as the fourteenth-largest corporate Bitcoin holder globally. El Salvador remains the most notable government entity actively acquiring Bitcoin, sticking to its accumulation strategy despite market downturns. The most recent drop in Bitcoin came with confirmation by former U.S. President Donald Trump that the United States will keep in place a 25% import tariff from Canada and…

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Filed under: News - @ February 26, 2025 8:25 pm