Metaplanet Makes Record Bitcoin Purchase
Japan-based investment firm Metaplanet has made its largest-ever Bitcoin purchase, purchasing 620 BTC (worth around $60.6 million) despite the recent 9.8% drop in the price of Bitcoin. With this purchase, the company’s total Bitcoin holdings have reached 1,761.98 BTC, worth a total of $168 million. Metaplanet financed its Bitcoin purchases through innovative capital-raising activities, such as bond and equity rights issues. The company, dubbed the “MicroStrategy of Asia,” saw its BTC returns jump 310% and is expecting to make its first operating profit in seven years, thanks to Bitcoin’s performance and innovative treasury strategies.
Trump’s Crypto-Friendly Appointments
US President-elect Donald Trump has appointed Bitcoin advocate and former Treasury official Stephen Miran as the Chairman of his Council of Economic Advisers (CEA). Known for his calls for crypto regulatory reform, Miran will advise the president on economic policy and strategy. The move is in line with Trump’s goal of making the US a global crypto leader and includes a proposal for a strategic Bitcoin reserve. Trump also appointed other pro-crypto figures, appointing Paul Atkins as SEC Chairman and Bo Hines as Executive Director of the Presidential Advisors Council on Digital Assets.
Crypto-Friendly Senator Bernie Moreno Appointed to US Senate Banking Committee
Senator Bernie Moreno won a major victory in the November Ohio election, defeating Senator Sherrod Brown. The crypto-friendly Moreno was appointed to the Senate Banking Committee by Republican Senate Majority Leader John Thune. The committee has significant authority to shape the future of crypto-related bills and has jurisdiction over the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Moreno will also serve on the Commerce, Budget, and Homeland Security Committees. Moreno is one of the founders of ChampTitles, a company that digitizes car titles using blockchain technology, and has pledged to defend crypto in the US Senate. The appointment is expected to be formally confirmed by the Senate in the next session.
MicroStrategy Plans to Increase Share Count for Bitcoin Strategy
MicroStrategy, the world’s largest institutional Bitcoin holder, announced that it plans to increase its share count. The company aims to raise $42 billion in total capital with $21 billion in equity and $21 billion in fixed income instruments under its 21/21 strategy. In line with this, it proposes to increase the number of shares bearing the Class A name from 330 million to 10.33 billion and preferred shares from 5 million to 1.005 billion. This plan was prepared to support the company’s Bitcoin purchases. Other initiatives are also on the agenda, such as a new stock incentive plan and the expansion of the board of directors with three new members.
Robinhood Considers Holding Bitcoin Reserves, But No Plans
Robinhood CEO Vlad Tenev explained that the idea of holding Bitcoin (BTC) reserves has been brought up from time to time within the company, but there are no plans to do so at the moment. Tenev stated that despite Robinhood’s increasing interest in the crypto asset, holding Bitcoin for investment purposes could create a mixed perception for investors. Tenev emphasized that Robinhood’s stock price is highly correlated with Bitcoin, saying that the company does not hold Bitcoin on its balance sheets like MicroStrategy or Tesla, but its stock performance already has a strong connection to Bitcoin’s movements. As of 2024, Robinhood’s shares have increased by 202%, while Bitcoin’s return since the beginning of the year has been 110%. Robinhood doesn’t plan to hold Bitcoin reserves yet, but it’s not ruling it out entirely.
MoonPay Expands Crypto Payment Services with Acquisition of Helio Pay
Crypto payments platform MoonPay plans to acquire Helio Pay for $150 million. The deal would be MoonPay’s largest acquisition since its founding in 2018. MoonPay has grown to a global user base of 20 million by offering users easy access to digital asset trading with services like credit cards, Apple Pay, and Google Pay. Helio Pay provides crypto payment solutions for content creators and e-commerce businesses. The company’s technology, which integrates Solana Pay with Shopify, allows payments to be processed in stablecoins like USDC, PYUSD, and EURC with automatic conversion. The acquisition will strengthen MoonPay’s payment infrastructure and increase its global merchant service capacity.
La Rosa Holdings Launches Bitcoin and Crypto Payment Era in Real Estate Commissions
La Rosa Holdings (LRHC), a Nasdaq-listed company, has begun offering Bitcoin and other cryptocurrencies as a commission payment option to more than 3,000 real estate agents across the U.S. Responding to the increasing demand for payments with digital assets, the company will charge a 2% transaction fee for this service. La Rosa believes that this step could create new revenue streams and stand out as an innovative service in the real estate sector. The company is hopeful about the long-term potential of this strategy with increasing revenue figures.
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BITCOIN (BTC)
BTC is priced at $ 94,542 as of the morning hours with a 0.24% loss in value. The price broke the 100,000 – 98,000 range, which previously worked as support during the decline, and started trading in lower regions. The price is currently trying to hold on to the green demand zone of 95,000 – 93,000. Since this region has been an area where strong buyers have stepped in in the past, there is a possibility of recovery in the short term. If the price reacts from this region, it can be expected to target the 98,000 level with an upward movement. If the price is sustained above this level, it may cause the price to move back towards resistance at 100,000 and above. In a downside scenario, if the price falls below 93,000, selling pressure may increase and the price may be expected to pull back to the next support level of 92,290 and then 90,757. These levels are important support areas where buyers can step in again.
ETHEREUM (ETH)
ETH is priced at $ 3322 with a 0.02% gain as of the morning hours. The price seems to have reacted upwards from the green demand zone in the range of 3,260 – 3,180, which previously worked as support. This zone draws attention as an area where strong buyers come into play and can form an important basis for the price to enter the recovery process again. If the recovery continues, the price must first exceed the level of 3,443. A break above this level may allow the price to move towards the next target of 3,613 and then the resistance levels of 3,829. In particular, a close above the level of 3,613 may confirm the continuation of the short-term uptrend. However, if the price is rejected at the current resistance levels, the decline may resume. In this case, the price is likely to pull back to the demand zone of 3,260 – 3,180. In case of stronger selling pressure, the 3,050 level should be monitored as lower support.
RIPPLE (XRP)
XRP is traded at $ 2.2575 with a 0.20% loss as of the morning hours. XRP started the new week with a horizontal and negative outlook. When the chart is examined, the $2.2305 level stands out as a critical support point. Candle closings below this level may cause the price to decline to $2.0741 and then $1.9580. In the event of stronger selling pressure, the $1.8171 level may be expected to attract buyers as an important support area. In upward movements, maintaining persistence above the $2.2305 level may support the price to rise first to $2.3645 and then to $2.4935. If these resistance levels are exceeded, it may cause the rise to continue to $2.6747 and $2.7864. It is important for investors to carefully monitor the identified critical support and resistance levels.
AVALANCHE (AVAX)
AVAX is priced at $ 39 levels with a 0.23% loss in value as of the morning hours. Closing yesterday with a 9.6% increase, AVAX started the new day above the resistance level of $ 37.29. If the positive trend continues, it will be important to break the $ 40.18 resistance first and maintain its permanence above it. Then, the $ 42.50 and $ 45.08 levels can be targeted and expected to work as resistance during the continuation of the rise. In a possible negative movement, 37.29 is an important support area. If this level is broken, the support area can be met up to $ 35.60. Below this level, a decline to $ 33 and $ 30.66 levels can be seen with harsher sales. These levels can be expected to work as support. It will be important for investors to carefully monitor the determined critical support and resistance levels.
SOLANA (SOL)
SOL is priced at $ 191 levels with a 0.66% gain as of the morning hours. Closing yesterday with a 5.30% increase, SOL seems to have started the new day positively. For SOL, which is just above the $ 191 resistance, it will be important for candles to close above this level in order for the positive trend to continue. Then, the $ 200.13 and $ 205.11 levels can be expected to work as resistance. In case of rejection from the possible $191 resistance, 183.60 will be the critical support data in the negative trend, while in case of faster selling pressures, the $177.10 – $173 band will appear as the support zone where buyers are concentrated.Therefore, it is important for investors to carefully monitor the identified critical support and resistance levels.
