Steinbeck Spins a Yarn ‘Bout Metaplanet’s Bitcoin Bonanza 🌌💰

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Well, now, ain’t this a sight to behold? Metaplanet, that there Japanese outfit, they’ve gone and done it again. Bought themselves a heap of Bitcoin, 162 of ’em, worth near ’bout $13.5 million. Yes sir, they did. Paid an arm and a leg, $83,123 each, while that digital coin was climbing higher than a kite on a windy day.

Now, this ain’t their first rodeo. They’ve got a stash, they do. A total of 3,050 Bitcoins, they’ve gathered like acorns for winter, spending a cool $253.7 million. That’s some fancy penny-pinching, I reckon.

*Metaplanet Scoops Up More $BTC*

— Metaplanet Inc. (@Metaplanet_JP) March 12, 2025

And wouldn’t you know it, their stock price shot up like a rocket, 7.93% to be exact, landing at 3,605 JPY. It’s like they struck oil in them thar digital hills.

Not content with just buying Bitcoin, oh no. Metaplanet’s board, they gave the thumbs up for some fancy bond business, raising $18.2 million. All to buy more Bitcoin, you ask? You bet your boots.

MicroStrategy, that big dog in the Bitcoin backyard, announced plans to raise $21 billion for more Bitcoin. Seems like everyone’s getting in on the action.

BTC Price Outlook: A Wild Ride Ahead?

Now, the market’s been as unpredictable as a cat in a room full of rocking chairs, but Metaplanet’s bought almost half their Bitcoin stash in 2025 alone. Bitcoin’s trading around $82,630, up 2% in 24 hours. That’s some movement, alright.

On the charts, the RSI’s sitting at 38.25, suggesting we’re close to being sold out like a rock concert. If it drops lower, folks might see it as a chance to buy low, sell high. Could be a turnaround tale in the making.

That MACD line, it’s below the signal line, telling us bears are prowling. But if bulls step up, we might see a change of heart.

To keep the bulls charging, Bitcoin needs to charge back to $85,000, aiming for that $90,000 mark. But if it falls below $80,000, watch out for a stampede. Support levels at $79,270 and $69,450, says analyst Ali Martinez.

On-chain data from @intotheblock shows Bitcoin’s $BTC support levels: $79,270 and $69,450.

— Ali (@ali_charts) March 12, 2025

Bitcoin’s down 25% from its peak, but whales, those big fish, they’re still buying. Over 65,000 Bitcoins added in a month, taking advantage while small fry sell off in a panic.

Standard Chartered’s Big Bitcoin Bet

Geoff Kendrick, head honcho of Digital Assets Research at Standard Chartered, reckons Bitcoin’s swings are due to the wider market’s mood, not just crypto jitters. He sees the price dip tied to macroeconomic hiccups, like that US CPI report and President Trump’s tariff tantrums.

But Mr. Kendrick’s optimistic, predicting Bitcoin will reach $200,000 by year’s end. Now, that’s a bold claim, if ever I heard one.

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2025-03-13 00:00