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“In the US, with Trump’s victory, I am aggressively bullish on the US becoming a global leader in the space by the end of the year,” Raj Brahmbhatt, CEO of Web3 settlement company Zeebu, told Cointelegraph in December.
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“As we scale operations and extend our cost advantage in Bitcoin production, we anticipate that the flywheel effect will enable us to grow our holdings organically at a significant discount to market prices,” the Hut 8 CEO said.
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Hut 8 CEO Asher Genoot said that the company’s strategic BTC reserve is a “key component” of its treasury strategy and aligns with its capital and operating strategies.
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From a derivatives perspective, the cryptocurrency market crash on Dec. 9 benefited SOL, as excessive leverage was cleared from the system. SOL futures open interest dropped by 12%, reaching the current level of 22.8 million SOL, and the cost of bullish leverage fell below 1% for the first time in over a month.
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A post by WazzCrypto on X suggests that most of the value extraction on Solana is driven by 'sandwiching,' a type of maximal extractable value (MEV) strategy where traders place orders before and after a target transaction to capitalize on the price fluctuations it causes. The thread highlights one instance where a single address reportedly executed 50% of the MOTHER token’s volume, while the majority of traders incurred losses during similar token launches.
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A growing list of other firms have taken a similar plunge and added Bitcoin to their balance sheets this year.
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The firm first flagged plans to buy Bitcoin in April. Metaplanet’s stock price is up 1,366% in the past year and is currently at about $15.60, according to Google Finance.
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In October, Metaplanet completed its 11th Stock Acquisition Rights, raising a total of $66 million, which it allocated to purchasing Bitcoin.
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The firm said it is putting its “metaverse related businesses plans” on the back burner, “as there is still no prospect of profitability, and has decided to incorporate the purchase and holding of Bitcoin as part of our stated corporate treasury strategy.”
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If Metaplanet raises the full $62 million, it could purchase roughly 652 Bitcoin at the current price of about $95,000.
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If approved under Japan’s Financial Instruments and Exchange Act, the stock acquisition would run from Dec. 16 to June 16, 2025.
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Given these circumstances, we recognize the urgent importance of increasing our Bitcoin holdings and have therefore decided to proceed with this fundraising initiative.”
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Meanwhile, the Japanese yen continues to depreciate, with the USD/JPY exchange rate returning to the 154 level on the same day, presenting ongoing concerns,” the firm said.
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“The majority of the funds raised this time will be strategically allocated for the purchase of additional Bitcoin,” Metaplanet said. “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.”
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In a Nov. 28 statement, the company said it would issue a 12th Stock Acquisition Rights to EVO Fund, an investment management firm in the Cayman Islands, through a third-party allotment totaling 29,000 units.
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Watford FC’s embrace of cryptocurrency dates back to 2019, when it became one of the first Premier League clubs to feature the Bitcoin logo on its jerseys during the 2019–2020 season.
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Watford’s collaboration with Cointelegraph reinforces the club’s dedication to fintech and blockchain, marking a new milestone in the club’s cryptocurrency journey, which began in 2019.
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Williams is perhaps best known for serving as the leading Justice Department official in several high-profile cases against crypto executives, including former FTX CEO Sam Bankman-Fried.
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As Cointelegraph reported in March, Bankman-Fried was convicted on seven felony charges and sentenced to 25 years in prison for his role in the exchange’s collapse.
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Roy shared that a BTC reserve will be a welcome move, but the government must still impleent budget reports to address the $2 trillion annual deficit. He also raised the possibility that the country may abandon its BTC reserves in the future, similar to gold’s experience in the 1970s.
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