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El Salvador Bitcoin holdings increased once again as the country marked the anniversary of its Bitcoin law while Japanese investment firm Metaplanet expanded its own Bitcoin treasury. Both moves came as the Crypto Fear & Greed Index returned to a “neutral” reading after several days in the “fear” zone, signaling a shift in market sentiment.
Metaplanet, a leading Japanese investment company announced on Monday the purchase of an additional 136 Bitcoin bringing its total to 20,136 valued at over $2.2 billion at current prices.
This acquisition strengthens Metaplanet’s position as the sixth largest corporate holder of Bitcoin and the top Japanese Bitcoin treasury among 186 tracked entities. The company paid approximately 16,554,535 Japanese yen ($111,830) per coin for this latest addition.
CEO Simon Gerovich reaffirmed in June that Metaplanet’s long term objective is to acquire 210,000 Bitcoin by 2027. Achieving this target would place Metaplanet just behind Strategy as the second largest public company in terms of Bitcoin holdings according to Bitbo. The company’s aggressive accumulation strategy is drawing attention as it seeks to rival the scale of El Salvador Bitcoin holdings and other major corporate treasuries.
Despite these bold moves, Metaplanet’s stock performance has been mixed. After its initial Bitcoin purchase announcement on July 22, 2024 shares surged by 19% to $1.10. However, subsequent acquisitions have not produced similar gains.
In the most recent trading session, Metaplanet’s shares fell nearly 3% to $4.65, though the stock remains up 92.45% year to date. The company also revealed plans to raise an additional $880 million through a public share offering in overseas markets on August 27 aiming to support its capital raising “flywheel” amid recent stock declines.
El Salvador Bitcoin holdings also saw an increase as President Nayib Bukele announced the purchase of 21 more Bitcoin to commemorate “Bitcoin Day” the anniversary of the country’s landmark law making Bitcoin legal tender in September 2021. This latest acquisition brings El Salvador Bitcoin holdings to a total of 6,313 as confirmed by the country’s Bitcoin Office.
The celebration of Bitcoin Day underscores El Salvador’s ongoing commitment to its Bitcoin strategy despite international scrutiny. In July, the International Monetary Fund published a report alleging that El Salvador had not purchased additional Bitcoin since signing a $1.4 billion loan agreement in December 2024 which required the country to scale back its Bitcoin acquisitions.
However, the recent purchase demonstrates that El Salvador Bitcoin holdings continue to grow thereby reinforcing the nation’s position as a pioneer in sovereign Bitcoin adoption.
Meanwhile, Strategy the largest corporate holder of Bitcoin continues to signal further accumulation. On Sunday, executive chairman Saylor hinted at another purchase by sharing a screenshot of the company’s Bitcoin portfolio with the caption, “needs more orange.” Saylor’s posts often precede new acquisitions for the company’s treasury.
Strategy currently holds 636,505 Bitcoin maintaining a significant lead over both Metaplanet and El Salvador Bitcoin holdings. The company’s stock (MSTR) experienced volatility throughout August but recently rose 2.5% to $335.87 remaining up nearly 12% year to date.
The recent return of the Crypto Fear & Greed Index to a neutral reading at 51 reflects a stabilization in market sentiment after a period of fear. This shift coincides with the latest increases in both Metaplanet’s and El Salvador Bitcoin holdings suggesting that institutional and sovereign players remain committed to expanding their Bitcoin reserves regardless of short term market fluctuations.
Just as Metaplanet pursues its ambitious goal and El Salvador Bitcoin holdings continues to grow, there is an evolving in the landscape of major Bitcoin treasuries. Both entities are shaping the narrative around large-scale Bitcoin adoption, with El Salvador Bitcoin holdings serving as a benchmark for national level investment and Metaplanet aiming to set new standards in the corporate sector.
