Hassan Maishera
TL;DR
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Bitcoin is trading around $102,400 after hitting the $107k mark earlier today.
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Metaplanet purchases an additional 1,004 bitcoins for $104 million, bringing its total holdings to 7,800 BTC.
BTC Hits $107k Before Dipping $102k as Metaplanet Adds More Bitcoins
Bitcoin, the leading cryptocurrency by market cap, failed to make a new all-time high after hitting the $107k level earlier today. The cryptocurrency rallied over the weekend, breaking above the $105k resistance level.
However, the rally failed to take out the $109k all-time high price. BTC has now dropped below $103k and currently trades at $102,417 per coin. It is down 1% in the last 24 hours but could rally higher in the near term.
The dip comes despite Metaplanet purchasing another 1,004 BTC for roughly $104.3 million. Based on current market prices, this purchase brings the Japanese investment firm’s total holdings to 7,800 BTC, worth about $806 million.
Metaplanet has acquired 1004 BTC for ~$104.3 million at ~$103,873 per bitcoin and has achieved BTC Yield of 189.1% YTD 2025. As of 5/19/2025, we hold 7800 $BTC acquired for ~$712.5 million at ~$91,343 per bitcoin. $MTPLF pic.twitter.com/w4tqZA2QPK
— Simon Gerovich (@gerovich) May 19, 2025
The firm began accumulating bitcoin in April 2024 as part of its crypto treasury strategy, steadily growing its holdings toward its goal of reaching 10,000 BTC by the end of 2025.
Altcoins in Red After a Weekend Rally
With Bitcoin dropping below $103k, altcoins are underperforming. Ether, the leading altcoin by market cap, is down nearly 5% in the last 24 hours and now trades at $2,381 per coin. The dip comes after Ether briefly reclaimed the $2,700 level last week.
Solana’s SOL and Cardano’s ADA both lost 5% of their values in the last 24 hours, while Tron (TRX) and XRP are down 3% each. Thanks to this bearish performance, the total cryptocurrency market cap has dipped 1% and now stands at $3.23 trillion.
