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Bitcoin

Bitcoin Treasury KindlyMD Closes $200 Million Raise to Buy More BTC

by admin August 18, 2025

In brief

KindlyMD said it was merging with Nakamoto Holdings to become a Bitcoin treasury back in May.
The company just closed a $200 million convertible note offering.
KindlyMD is the latest firm to pivot to Bitcoin buying as a way to provide better returns for investors.

Bitcoin treasury KindlyMD has closed a $200 million convertible note offering that it will use to buy more BTC, the company announced Monday.

The issuance is the latest step in the company’s strategy to build its BTC holdings and adds to the $540 million that the company raised via a private placement in public equity (PIPE), which closed concurrently as it merged with Nakamoto Holdings. The combine company is retaining the KindlyMD name.

“The Company intends to use the net proceeds from the Convertible Note offering to purchase more Bitcoin, as well as for working capital and general corporate purposes,” KindlyMD said in a statement Friday.

UPDATE: KindlyMD Closes $200 Million Convertible Note Offering. The issuance of the Convertible Note expands our Bitcoin treasury strategy and adds to the $540M gross proceeds from the PIPE Financing.

— Nakamoto (@nakamoto) August 15, 2025

In May, Kindly, which has shifted its focus as a healthcare data provider, and Nakamoto Holdings announced their merger. Nakamoto is a holding company co-founded by Bitcoin Magazine CEO David Bailey, with the intent of purchasing Bitcoin. CEO Bailey advised President Trump on his 2024 crypto policy while the Republican was campaigning.

YA II PN, Ltd., an investment fund managed by hedge fund Yorkville Advisors, is managing the financing.

KindlyMD’s stock, which trades on the Nasdaq under the ticker NAKA, closed about 12% lower on Monday. The idea is that investors will be able to get exposure to the leading cryptocurrency by buying its stock.

A full 168 public companies have Bitcoin treasuries—a move popularized by Michael Saylor’s software firm Strategy, which began purchasing the asset in 2020.

After pivoting from software development, Strategy started buying Bitcoin in August 2020 as a way to generate better returns for its shareholders.

It is the largest corporate holder of the asset with 629,376 BTC worth over $73 billion. It mostly works now to securitize Bitcoin.

Bitcoin was recently trading for $116,605 per coin after dropping 1% over a 24-hour period. It broke a new all-time high last week of $124,128, according to crypto data provider CoinGecko.

Strategy issues debt to fund its purchases. Since Strategy first bought Bitcoin five years ago, its stock (Nasdaq: MSTR) has rocketed up by over 2,700%.

Some of Strategy’s followers are using spare cash to buy the flagship digital currency, while others are issuing debt.

But some experts have warned that the crypto play has its risks.

Other notable treasuries include Twenty One, started by a combination of crypto and traditional finance powerhouses—Tether, Bitfinex, Cantor Fitzgerald, and SoftBank. It holds 43,500 digital coins, although it has yet to begin trading.

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August 18, 2025 0 comments

NFT Gaming

Ethereum Floods Exchanges As Bitcoin Remains Unshaken: Market Braces For Volatility

by admin August 18, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum is navigating renewed volatility after weeks of relentless gains and bullish momentum. The world’s second-largest cryptocurrency surged to its highest levels in years, but bulls are now locked in a battle to defend the $4,200 mark. This price point has emerged as a crucial short-term support, with institutional buyers continuing to accumulate ETH despite recent turbulence in broader markets.

What stands out in this phase is Ethereum’s exchange inflow activity compared to Bitcoin. Over the past month, the two assets have displayed sharply different patterns. While Bitcoin’s inflows have remained relatively moderate, signaling stability and limited selling pressure, Ethereum has seen a significant uptick in coins moving onto exchanges.

This divergence suggests a more dynamic market structure for Ethereum. Rising inflows could indicate profit-taking by long-term holders, or repositioning by large investors preparing for volatility or upcoming catalysts in the ETH ecosystem. Still, institutional interest, alongside strengthening fundamentals such as declining supply on exchanges, continues to support Ethereum’s long-term outlook. Traders now watch closely to see if ETH can hold $4,200 and stabilize for another leg higher.

Bitcoin vs. Ethereum: Divergence in Exchange Inflows

According to on-chain data from CryptoQuant, Bitcoin (BTC) and Ethereum (ETH) are showing a clear divergence in exchange inflows, signaling very different dynamics at play in the market. Bitcoin inflows have remained moderate, fluctuating between 12,000 and 70,000 BTC per day.

While there have been brief spikes in mid-July and around August 1st, these movements have not persisted long enough to suggest a broader trend. This steadiness implies that BTC holders are not rushing to exchanges, which reduces immediate selling pressure. It also reinforces the idea that sentiment around Bitcoin remains relatively stable despite recent volatility in price action.

Ethereum, however, is telling a different story. Over the past several weeks, ETH inflows have surged significantly, with daily exchange inflows repeatedly climbing above 2 million ETH in mid-August and peaking near 2.6 million ETH. This marks a sharp increase compared to late July, when inflows often sat below 1.5 million ETH.

Ethereum Exchange Inflow | Source: CryptoQuant

Such elevated activity suggests large-scale repositioning among major holders or increased profit-taking following ETH’s strong rally. The data highlights that Ethereum is entering a more active trading phase, potentially introducing short-term selling pressure that could influence price direction.

The divergence is striking: Bitcoin inflows suggest relative calm, while Ethereum inflows signal heightened market activity. This imbalance means traders should watch ETH closely, as sustained exchange inflows could either spark a corrective pullback or serve as a stepping stone for a renewed rally, depending on how the market digests the additional liquidity.

Technical Details: Key Price Levels

Ethereum’s recent price action shows a notable retracement following weeks of strong bullish momentum. After peaking near $4,790, ETH has pulled back to around $4,272, reflecting an 11% decline. This move has brought the price back toward a critical support zone at $4,200, where bulls are currently attempting to defend against further downside pressure.

ETH consolidates around key levels | Source: ETHUSDT chart on TradingView

The chart highlights that Ethereum remains well above its key moving averages (50, 100, and 200-day), which are all trending upward and reinforcing a broader bullish structure. Despite the sharp retracement, the longer-term trend still favors buyers, as ETH has maintained higher highs and higher lows since its reversal earlier this year.

A breakdown below $4,200 zone could open the door to $3,800–$3,900, while a successful defense could set the stage for another attempt at the $4,800–$5,000 region. Overall, Ethereum’s chart continues to show bullish strength, though volatility remains high.

Featured image from Dall-E, chart from TradingView

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August 18, 2025 0 comments

Crypto Trends

Bitcoin Price at $115K: Support or Breakdown Ahead?

by admin August 18, 2025

Bitcoin (BTC) fell below $115,000 on Monday, August 18, 2025, confirming a decisive break from a two-month-long bull run. The price decline was a 7.6% drop from its new All-Time High (ATH) of $124,501 set just four days prior. The drop was triggered by a breakdown from a key technical pattern known as a rising wedge, which had supported the asset’s price since mid-June.

Bitcoin started its rally in April this year with a series of higher lows in mid May and June, as well as in early August. The rally was strong enough to hit a new ATH. However, sellers finally overwhelmed buyers, pushing the price down even as bulls are fighting to protect important levels of support.

On-chain data and technicals point to the potential of a mixed short- to medium-term view for bitcoin price. Let’s evaluate the data to determine the potential trend of this digital asset.

Daily Active Addresses Record A Steep Drop

The active number of the addresses signifies the number of active wallet addresses of an asset. Over here, Bitcoin has been ranging between 700,000 and 1.2 million in the course of seven months. Although BTC continued to hit new highs, active participation has not always been on the rise, suggesting that the retail presence is not keeping up with the price action.

At the time of writing, according to data from CryptoQuant, the active address count peaked at 994,288 on August 14 but has since fallen by over 160,000 in just four trading sessions.

Bitcoin Short-term Holders Offloading At A Loss

The Short Term Holders (STH) of Bitcoin have now begun to enter into the stage of loss realization that the market has not seen since January 2025, when the crypto sector underwent its worst correction of this cycle. In the period since, STHs had generally been selling at a profit as BTC trended up in the six-figure territory.

However, the most recent STH-SOPR has declined below 1, indicating that the most recent transactions are being executed at a loss. This can work both ways historically, as an extended period of selling can be representative of decaying momentum and the onset of a correction. Notably, brief pullbacks are sometimes healthy re-sets, eliminating lagging hands before the next higher leg occurs.

Bitcoin On Crossroads

The bitcoin chart given below highlights a rising wedge pattern in the daily time frame, a formation that typically signals weakening momentum despite higher highs and higher lows. Bitcoin is now trading within converging upward trendlines, showing that the buying pressure is slowing as price nears resistance. After reaching its all-time high around $124,000, BTC price faced rejection and is currently retesting the $115,000 support zone.

On the day of hitting ATH, a reversal began last week when a powerful “Bearish Engulfing” candle appeared. This signal, where a single day of selling completely erases the prior day’s gains, served as warning that buying pressure has been exhausted.

Following the Bearish engulfing candle, for the next two days, consequent ‘dojis’ were seen, where there is no significant price movement in either direction. Hence bitcoin now stands at a crossroad where bulls are unexpectedly startled by bears, evident by panic selling by STH holders, as per the on chain data.

The Bollinger Band (BB) is a key technical indicator as it is used to present an important area or to confirm the trend. Possible stabilization of the crypto market at this level might result in a potential reversal trend toward the $121,000 which is the upper trendline of the bollinger band, in this situation a major resistance.

The Relative Strength Index (RSI) indicator which is used to determine a trend pattern has plunged from near overbought, indicating a rapid shift in selling pressure. With it still standing in the middle at 45, a classic bearish divergence has formed. While the price set a higher high in August compared to July, the RSI set a lower high.

This suggests that the momentum behind the rally was fading significantly, often foreshadowing a price correction.

What’s Next For Bitcoin?

Considering the present market sentiment, the “make-or-break” level for Bitcoin price is in the range between $115,000 and $116,000.

A successful defense of the $115,000 support may be followed by a push toward the upper target levels of $121,000 or its previous ATH of $124,000.
Conversely, a breakdown below $115,000 would likely trigger a decline toward $110,000. In an extreme bearish scenario, the BTC price could go as low as $105,000.

Also Read: Bhutan Moves $92M in Bitcoin Amid Exchange Speculation

Disclaimer: The Crypto Times does not endorse or promote this digital asset in any manner. This article was created only for educational purposes. Make sure to “DYOR” as the market is highly volatile. New positions should be done by traders being careful and awaiting volume-backed breakouts.

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August 18, 2025 0 comments

GameFi Guides

Strategy Expands Bitcoin Holdings to 629,376 BTC Worth $46.15B

by admin August 18, 2025

Strategy Inc. continues to expand its Bitcoin (BTC) holding, escalating its accumulation despite market turbulence as prices slipped 3% to $115,539.The Virginia-based firm, led by CEO Michael Saylor, revealed on August 18 that it had acquired 430 BTC for roughly $51.4 million at an average price of $119,666 per coin.

This purchase lifts the company’s total Bitcoin holdings to 629,376 BTC, making Strategy one of the world’s largest corporate holders of the asset. Since it began its accumulation, the firm has spent $46.15 billion, averaging $73,320 per coin.

Besides the latest acquisition, Saylor highlighted the firm’s performance. “Strategy has acquired 430 BTC… and has achieved BTC Yield of 25.1% YTD 2025,” he wrote on X. Hence, despite volatile conditions, Strategy has maintained consistent gains, proving the effectiveness of its accumulation strategy.

The recent update wasn’t just about purchasing Bitcoin. Below the post, the CEO also included a fresh approach to the company’s equity issuance strategy linked to its Bitcoin reserves. The firm introduced a tiered system that considers their market value in relation to net asset value (mNAV).

When the firm’s trading value exceeds 4.0x mNAV, it issues more MSTR shares to acquire additional Bitcoin. In the range of 2.5x to 4.0x mNAV, they continue to issue shares, but only when the opportunity arises.

Strategy today announced an update to its MSTR Equity ATM Guidance to provide greater flexibility in executing our capital markets strategy. pic.twitter.com/xSwwcWubIq

— Michael Saylor (@saylor) August 18, 2025

Consequently, below 2.5x mNAV, the company restricts issuance to meeting debt or other obligations. Finally, if valuation sinks under 1.0x mNAV, Strategy may issue credit to repurchase its own shares.

SEC Filing Confirms Strategy

The company also filed a Form 8-K with the SEC as part of its update, making sure it stays in line with investor disclosure rules. In simple terms, this shows that Strategy is being open about how it manages money while steadily building its Bitcoin stash.

The firm’s bold move makes it clear that Bitcoin is not just a side investment, but its main treasury strategy. Moreover, the updated guidance shows that Strategy plans to keep using market ups and downs to grow its holdings while still protecting shareholders from too much dilution.

Also Read: Bhutan Moves $92M in Bitcoin Amid Exchange Speculation

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August 18, 2025 0 comments

GameFi Guides

Top XRP Contributor Points to ‘Dangerous’ Bitcoin Centralization

by admin August 18, 2025

Eight blocks in a row from Foundry USA will not break BTC, but it did crack open the same old question that never quite goes away: how much control a few big players can exert over the chain at any given moment, and what that means when the design itself allows the past to be rewritten under the right conditions.

That is the issue Vet, an XRPL validator and xrpcafe cofounder, wanted to make a blunt point: Nakamoto-style systems, whether proof-of-work or mostly proof-of-stake, tolerate chain reorganizations by design.

XRP or Bitcoin?

Together, it is very much a snapshot of 2025: Bitcoin commands roughly 59% dominance of the market, and centralization nerves flare whenever a pool has a night like this, while XRPL backers try to sell “different, not just faster or cheaper” — finality you cannot rewind, assets that do not vanish behind someone’s API.

Insurance Against Price Slides in BlackRock’s Bitcoin (BTC) ETF (IBIT) Now Costliest Since April Crash

by admin August 18, 2025

Protection against price drops in BlackRock’s spot bitcoin

exchange-traded fund (ETF), is now at its priciest since the early April market slide.

On Monday, the spread between implied volatilities (IV) for 25-delta puts and 25-delta calls for the iShares Bitcoin Trust ETF (IBIT) rose to 4.4, the widest since April 10, according to data source Market Chameleon.

In other words, put options, which insure the buyer against price drops in the underlying asset, traded at a premium of 4.4 IV relative to calls, or bullish bets. It’s a sign investors are increasingly seeking protection against price declines, reflecting growing concerns about IBIT’s near-term outlook.

IBIT gapped lower at $65.72 on Monday, tracking overnight losses in the spot bitcoin market. At press time, the ETF shares were trading at $65.44, down 1.51% for the day, having reached a record high of $69.89 last week, according to data source TradingView.

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August 18, 2025 0 comments

GameFi Guides

United States’ Bitcoin Holdings Top $24 Billion After Ruling Out Buying

by admin August 18, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On-chain data shows the US is one of the world’s largest Bitcoin holders, with its portfolio now exceeding $24 billion. However, recent events have shown that the possibility of the US government increasing its stash is very low. Particularly, the US government’s strategy for cryptocurrency took a new turn this week after Treasury Secretary Scott Bessent clarified that Washington will not be actively buying any additional Bitcoin.

Bessent Rules Out New Purchases But Leaves A Possibility

While speaking in a Fox Business interview, US Treasury Secretary Scott Bessent explained that the government has no plans to buy additional Bitcoin beyond its current reserve. The Treasury chief said the reserve will continue to be funded primarily through assets seized in criminal cases rather than direct purchases. His estimates place the value of the reserve between $15 billion and $20 billion.

Bessent later softened his position on social media, noting that even though the US is not allocating budgetary resources to acquire more Bitcoin, it is committed to “budget-neutral pathways” for expanding reserves to make the country the Bitcoin superpower of the world. The statement suggests that auctions, seizures, and non-traditional acquisitions could still increase holdings in the future, even if the Treasury avoids direct market buys.

Bitcoin Holdings Push Toward $24 Billion

Data from blockchain analytics platform Arkham Intelligence reveals a bigger picture than Bessent’s estimates of $15 billion to 20 billion. According to Arkham, wallets linked to the US government currently hold about 198,022 BTC, valued at approximately $23.42 billion. Many of these holdings originated from seizures related to criminal activity, including the well-known Silk Road case.

The portfolio, however, extends well beyond Bitcoin. Arkham’s data reveals holdings of about 59,951 ETH, worth $273 million, along with 347 million USDT and smaller allocations across other assets such as 750 WBTC, 40,293 BNB, 5,205 WETH, and 13.6 million BUSD. Taken together, the government’s digital asset holdings are valued at approximately $24.27 billion. This figure recently climbed as high as $25 billion during Bitcoin’s surge above $124,000 last week.

Source: Chart from Arkham

Earlier this year, President Donald Trump signed into law the creation of a strategic crypto reserve, a move many interpreted as the start of government-led Bitcoin accumulation. Trump himself had many investors increase their expectations after stating that the United States would prioritize US-based cryptocurrencies like BTC as part of its financial strategy.

This context is what made Bessent’s recent statement so significant. Although the reserve exists in law, the Treasury has now made it clear that active market purchases of Bitcoin are not on the table for the time being. However, it is clear that the US government isn’t planning to sell its holdings anytime soon, which might flood the market with selling pressure.

BTC trading at $114,859 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Pixabay, chart from Tradingview.com

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August 18, 2025 0 comments

Crypto Trends

Morning Minute: Wall Street Loads Up on Bitcoin

by admin August 18, 2025

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

Crypto majors dip 3-6% overnight; BTC holds at $115,000
Gemini files to go public with ticker GEMI, timing TBD
BTCS becomes first TreasuryCo to issue a ‘Bividend’, offers blockchain dividend
Adam Back’s Bitcoin Standard TreasuryCo to launch with 30k BTC + $1.5B
LIGHT eco rallies over the weekend, latest launchpad challenger to Pump

🏦 Wall Street Loads Up on Bitcoin via ETFs

Some of the biggest players in the world are piling billions into BTC funds.

Yet the average professional fund manager is barely allocated. What gives?

📌 What Happened

Wall Street and global institutions dramatically increased their Bitcoin exposure in Q2, pouring billions into spot ETFs like BlackRock’s (IBIT) and related crypto equities.

SEC filings reveal that heavyweights like Brevan Howard, Goldman Sachs, Harvard, Wells Fargo, Jane Street, and even Norway’s sovereign wealth fund all boosted their positions, signaling growing comfort with BTC as a core allocation.

Some of the most notable moves:

Brevan Howard nearly doubled its IBIT stake to 37.9M shares worth $2.6B, making it one of the largest institutional holders.
Goldman Sachs reported $3.3B across IBIT and Fidelity’s Wise Origin Bitcoin Trust (FBTC), plus $489M in Ethereum’s ETHA trust.
Harvard disclosed a $1.9B stake in IBIT, while Abu Dhabi’s Mubadala continues to hold $681M.
Wells Fargo quadrupled IBIT holdings to $160M, alongside a small GBTC stake.
Cantor Fitzgerald pushed past $250M in IBIT while adding exposure to Strategy (MSTR), Coinbase (COIN), and Robinhood (HOOD).
Trading giant Jane Street now owns $1.46B of IBIT, making it its largest position after Tesla.
Norway’s $2T sovereign wealth fund indirectly holds 7,161 BTC (~$841M) via equity stakes in MSTR, Coinbase, Block, and others – up 192% YoY.

Yet, the average professional fund manager in the US is barely allocated.

A survey from Bank of America showed that the average fund manager has just 0.3% allocated to crypto.

And a whopping 75% have 0 exposure.

🗣️ Why It Matters

It’s a tale of two groups.

Institutions are clearly piling into BTC and crypto right now, including the biggest names in finance, academia, and even nation-states.

The sheer scale of these positions ($2B+ for Brevan Howard, $3B+ for Goldman, $1.9B for Harvard) validates Bitcoin as an institutional-grade asset.

And it’s becoming clearer that spot ETFs are proving to be the gateway, offering clean, regulated exposure through familiar structures.

Yet, retail is sleeping, and their fund managers aren’t helping.

The fact that 75% of fund managers aren’t allocated at all is not surprising but is also staggering at the same time.

But the good news is – they are coming.

The more that the big names and institutions pile in, the “safer” it becomes for the average fund manager to recommend crypto as an investment.

It’s a lot easier to make safe, standard and consensus plays and collect fees than it is to go out on a limb and make contrarian, conviction calls.

Crypto won’t be contrarian much longer.

And the fund manager pivot is just a matter of time…

🌎 Macro Crypto and Memes

A few Crypto and Web3 headlines that caught my eye:

Crypto majors were red on the day; BTC -3% at $115,100, ETH -6% at $4,260, XRP -5% at $2.97, SOL -7% at $181
XMR (+4%) led top movers
Odds of a September rate cut have fallen from 99% to 83% after recent inflation data
The ETH ETFs saw new outflows on Friday, after a massive 8-session green streak that resulted in $3.7B in net inflows
The Federal Reserve officially ended its “novel activities” program that increased bank scrutiny of crypto
SEC Chair Paul Atkins announced the agency is developing new custody regulations for digital assets to increase clarity and security in the U.S. crypto markets
A recent survey showed professional fund managers allocate just 0.3% to crypto on average, and 75% have 0 exposure
Gemini filed to go public via Nasdaq with ticker GEMI, timing still TBD
Grayscale filed for a Dogecoin ETF on Friday
New York Assemblymember Phil Steck proposed a 0.2% excise tax on crypto transactions, estimating $158 M in annual revenue from the program

In Corporate Treasuries

SBET stock plunged 15% to $19.85 on Friday following a Q2 net loss of $103 M; the firm attributed losses to a $87.8M non‑cash impairment and $16.4M in stock‑based compensation
Metaplanet bought another 775 BTC for $93M, now holds 18,888
Adam Back’s Bitcoin Standard TreasuryCo is preparing to go public in a merger with Cantor Equity Partners, aiming to launch with 30,000 BTC + $1.5B in capital
BTCS announced it will issue a one-time blockchain dividend, ‘Bividend,’ of $0.05 per share in ETH, the first of its kind

In Memes

Memecoin leaders are very red on the day; DOGE -5%, Shiba -5%, PEPE -5%, PENGU -6%, BONK -8%, TRUMP -2%, SPX -9%, and FARTCOIN -5%
FORK was a top onchain runner, jumping 25x to $4.3M; NEET +36% to $13M was a notable mover
LIGHT ran 4x to $160M over the weekend after the team spent over $1.4M buying back and burning its token thanks to its flywheel (now $126M)

💰 Token, Airdrop & Protocol Tracker

Here’s a rundown of major token, protocol and airdrop news from the day:

Polymarket introduced a ‘Breaking News’ tab, showing the top moving markets over the past 24 hours
Pump.fun flipped Hyperliquid in revenue on Sunday, though it still lagged on the week and month (Hype re-flipped it over the past 24 hours)
Story Protocol founder Jason Zhao resigned over the weekend, 3.5 years after starting Story (and $130M+ in funding later)

🤖 AI x Crypto

Section dedicated to headlines in the AI sector of crypto:

Overall market cap down 3% to $12.9B, leaders were red
FARTCOIN (-6%), VIRTUAL (-3%), TIBBIR (-8%), ai16z (-5%) & VVV (+9%)
VIRGEN (+84%), AVB (+17%) and CLANKER (+15%) led top movers

🚚 What is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

ETH NFT leaders were red alongside the ETH selloff; Punks -1% at 49 ETH, Pudgy -3% at 12.8, BAYC -3% at 11.3 ETH
0n1 Force (+29%) and Yumemono (+60%) were notable top movers
Bitcoin NFTs saw some green, led by Taproot Wizards (+4%) and Adderrels (+28%)
Abstract NFTs were mostly red, led by Pengztracted (+29%)
A Rektguy 1/1 sold for 10 ETH ($45,000)
Cerebro announced its mint details, launching on 8/21 with 6,969 NFTs for 0.08 ETH each

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August 18, 2025 0 comments

GameFi Guides

Metaplanet’s Bitcoin Treasury Swells to 18,888 BTC With Fresh Buy

by admin August 18, 2025

In brief

Metaplanet has bought a further 775 BTC for $93 million to bolster its corporate treasury.
The Japanese firm’s Bitcoin stash is now worth roughly $2.17 billion, despite Bitcoin’s downturn over the weekend.
Analysts told Decrypt that steady buying can tighten liquidity and raise near term volatility.

Metaplanet Inc. bought an additional 775 Bitcoin for $93 million (¥13.733 billion) Monday, lifting the Tokyo-listed firm’s holdings to 18,888 BTC as it extends its Bitcoin treasury program.

The company said the tranche was executed at an average $120,000 (¥17,720,023) per coin, lifting its aggregate cost basis to $1.94 billion (¥284.097 billion) and its overall average purchase price to $102,000 (¥15,041,118) per Bitcoin.

“18,888 BTC. Onward and upward,” Metaplanet President Simon Gerovich tweeted, sharing the announcement.

Hours before the announcement, Gerovich commented that the company hears the “disappointment in the recent pullback” of Bitcoin’s price to just over $115K over the weekend.

“It’s natural to feel that way. But what gives us conviction is the foundation we are building,” Gerovich said.

Metaplanet’s Bitcoin treasury strategy

Metaplanet’s transformation represents one of the most dramatic corporate pivots in recent history. Founded in 2010 as Red Planet Japan, the company operated a pan-Asian budget hotel chain, but the COVID-19 pandemic broke its business model, forcing property closures and resulting in six consecutive years of losses.

By early 2024, the company’s stock languished around $1.32 (¥190), before its adoption of the corporate Bitcoin acquisition playbook originated by Michael Saylor’s Strategy.

Yet the same dynamic isn’t something peculiar to Japan, according to Hank Huang, CEO of Asia-focused quantitative trading firm Kronos Research.

“Metaplanet’s latest buy shows corporate Bitcoin treasuries growing globally, with firms increasingly using BTC as a strategic reserve.” Huang told Decrypt. “At this scale, near-term liquidity could tighten, adding short-term volatility, while also serving as a hedge against fiat currencies. “

Rewards and risks

Huang noted that the primary risk to Metaplanet’s ambitions is volatility, with equity dilution as a secondary factor.

“The biggest risk for corporate Bitcoin treasuries is price volatility, with sharp BTC drops straining balance sheets and confidence,” Huang explained. “Equity dilution is a secondary concern if share-funded purchases don’t see bullish moves in both BTC and stock.”

Equity dilution happens when a company issues new shares, reducing each holder’s stake and weighing on the stock. Despite it, Metaplanet continuously amassed Bitcoin for its balance sheet, announcing plans for a $3.7 billion stock raise earlier this month to buy more.

For other Asian companies, the rules may not be the same.

“It’s hard for all Asian companies to copy Metaplanet’s Bitcoin buying. Asia’s rules vary, and companies face different challenges. No one can easily follow this move,” Jay Jo, senior analyst at Asian quantitative trading firm Tiger Research, told Decrypt.

At Metaplanet’s scale, steady buying can briefly add liquidity, but persistent bids may drain supply and amplify price swings, Jo explained.

“A company’s stock may track Bitcoin closely and often moves more wildly. For example, Strategy’s Beta is 3.78, while Bitcoin’s is normally about 1.5 to 2,” he said.

Too much reliance on Bitcoin price “without steady cash flow” may cause “sudden cash crunches,” Jo said, adding that such factors “puts heavy stress on a company’s financial health.”

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August 18, 2025 0 comments

Crypto Trends

Bitcoin (BTC) Price Prediction: In Precarious Position

by admin August 18, 2025

This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin

remains susceptible to further downside, having lost over 7% since hitting record highs above $124,000 on Thursday.

Bullish momentum fading

The weekly chart (candlestick format) shows that BTC’s ongoing decline follows repeated bull failure to secure a foothold above $122,056, the Fibonacci golden ratio. It also marked the inability to keep gains above the significant long-term resistance trendline that connects the bull market highs of 2017 and 2021.

BTC’s weekly chart. (TradingView/CoinDesk)

Additionally, the weekly stochastic oscillator has rolled over from the overbought zone above 80, signaling a potential correction ahead.

Daily chart

On the daily chart, BTC’s latest candle has broken below the bullish trendline extending from April lows, following Friday’s bearish outside-day candle that signaled a potential shift toward seller dominance.

BTC’s daily chart. (TradingView)

Together, these technical signals indicate an increasing downside risk for BTC in the near term, with a potential retest of $11,982, the point from which the market turned higher on Aug. 3. A violation of this level would shift focus tothe 200-day simple moving average at around $100,000.

A potential reversal higher to above $118,600 (Sunday’s high) during the day ahead would weaken the bear case.

Resistance: $120,000, $122,056, $124,429.
Support: $111,982, $105,295 (the 31.8% Fib retracement of April-August rally), $100,000.

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August 18, 2025 0 comments