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Metaplanet Inc. moved again into the Bitcoin zone as part of its treasury plan, buying 136 Bitcoin for about $15.2 million at an average price of $111,783 per coin.

According to the company, that brings its total holdings to 20,136 coins. The purchase keeps Metaplanet among the larger corporate holders of the crypto.

Metaplanet Expands Bitcoin Stack

The company reported the fresh buy on Monday. Based on reports, Metaplanet now sits as the sixth-largest corporate holder of Bitcoin.

At the time of the purchase, Bitcoin traded around $111,580, putting the new units close to current market levels. The move underscores how some firms are turning parts of their balance sheets into crypto exposure rather than sticking only to their core businesses.

Market Reaction Was Cool

Shares of Metaplanet did not climb after the disclosure. They fell 2.3% in Tokyo trade on Monday and were trading near a four-month low, extending nearly a 20% rout from the prior week.

Reports show the stock slide has tracked a drop in Bitcoin’s price after profit-taking followed August’s record highs. Investors appear skittish when a company’s share price is tied tightly to a volatile asset.

*Metaplanet Acquires Additional 136 $BTC, Total Holdings Reach 20,136 BTC* pic.twitter.com/c41t6bJg1L

— Metaplanet Inc. (@Metaplanet_JP) September 8, 2025

Investors Weigh ETFs Versus Direct Exposure

Part of the pushback comes from alternatives. Exchange-traded funds now give retail and institutional investors direct bitcoin exposure without owning a company whose core business may not reflect the crypto bet.

Strategy, formerly MicroStrategy, remains the biggest corporate holder with 636,505 coins. Strategy logged nearly a 15% loss in August as Bitcoin pulled back, showing how a firm’s valuation can swing with crypto prices.

Questions have been raised about whether holding Bitcoin on a company balance sheet still offers the same appeal it once did.

Valuation And Volatility Concerns Persist

Metaplanet’s market value — around $5 billion, based on recent trading — has drawn scrutiny because it exceeds the current market value of the bitcoin on its books.

Critics warn that tying a company’s shares to Bitcoin can make the stock more vulnerable to crypto’s swings. New players, including Metaplanet and Gamestop, tried to copy the strategy and have met mixed results so far.

Market Crowding Could Limit Future Gains

Analysts also point to crowding: many companies chasing the same story could blunt future upside for treasury-play stocks if fresh buyers stop showing up.

Strategy achieved big gains after late-2023 purchases, funded in part through large share and debt issuances. That path may be harder to repeat now that more investment routes exist.

For now, Metaplanet keeps adding to its bitcoin pile while its shares remain under pressure. Reports suggest the next moves by both Bitcoin and markets will decide whether that bet looks smart or risky in hindsight.

Featured image from Unsplash, chart from TradingView

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Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked…

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August 25, 2025

Crypto advocates, IT experts, and media outlets are concerned that lawmakers’ deliberations on South Korea’s stablecoin legislation have “slowed to a standstill.”

The South Korean newspaper Busan Ilbo reported that all four stablecoin-related draft laws submitted to the National Assembly in recent months are currently stuck in the committee stage.

S Korea’s Stablecoin Legislation: Stuck in Committee

The bills’ delay, the newspaper wrote, is due to the fact that regulators and lawmakers cannot agree on key terms. Busan Ilbo wrote:

“Discussions on institutionalizing stablecoins in South Korea are stuck at a standstill. This stems from persistent disagreements between the National Assembly, the government, and the Bank of Korea (BOK).”

The outlet noted that the parties cannot agree on the question of whether they should let fintech and IT firms issue coins.

More conservative voices at the BOK and in the government want to restrict issuance to domestic commercial banks.

The question of whether or not to let fintech firms issue KRW-pegged coins is extremely sensitive in South Korea.

The country’s business space is dominated by large conglomerates known as chaebol. All of these firms have advanced finance and tech subsidiaries.

In recent years, internet giants such as Naver and Kakao have also moved into the space. The BOK and others fear that letting firms issue KRW-pegged coins will lead to the rise of big tech-controlled “private currencies.”

Historically, chaebol have wielded enormous political and financial influence in South Korea. The BOK is concerned that surrendering its monopoly on currency issuance to these firms (or new tech giants like Naver) will erode its power.

Conversely, the BOK exercises considerable regulatory powers over the commercial banking space. As such, it seems ready to dig its heels in on the matter.

Equity Requirements

The four bills all feature varying requirements for stablecoin issuers. The most progressive of the quartet proposes ensuring issuers have a minimum of 500 million won ($360,026) in equity capital.

This bill would essentially open the door to startups that wish to start issuing KRW-pegged stablecoins.

But the most conservative of the bills states that only firms with a minimum of 5 billion won ($3.6 million) in equity capital can enter the market.

Busan Ilbo wrote that the review process has been divided between two of the National Assembly’s committees, namely the Political Affairs Committee and the Strategy and Finance Committee.

This split is “hindering progress,” the outlet remarked. A senior official at a South Korean blockchain industry firm, speaking to Cryptonews.com on condition of anonymity, said:

“This delay is very frustrating. The government should make up its mind quickly, either way. Our rivals in other countries aren’t being left in limbo like us.”

Playing Catchup with Washington

South Korean critics have pointed to progress on stablecoins in Germany, China, and Japan, as well as the US.

The Japanese Financial Services Agency is reportedly set to authorize the Tokyo-based fintech company JYPC’s bid to issue the nation’s first yen-pegged stablecoin.

Experts in Seoul think that Berlin, Tokyo, and Beijing are all acting in response to events in Washington; keen to avoid a “unipolar” drift toward the US dollar.

US President Donald Trump signed the GENIUS Act into law in July this year. The act sets out a range of regulatory requirements for would-be stablecoin issuers.

Last week, the President of the USD Coin (USDC) issuer Circle Heath Tarbert held a stablecoin-themed meeting with the BOK Governor Rhee Chang-yong.

Tarbert also met with some of South Korea’s top bankers. The Circle chief spoke to top executives from financial behemoths like Kookmin, Woori, and Shinhan.

Ethereum has revived a long-lost faith in its investors following its recent impressive price action, which saw the altcoin reclaim the $3,000 level. While the ETH token is still a fair distance from its all-time-high price, the “king of altcoins” has started to reclaim its somewhat lost reputation in the crypto market. 

While the Ethereum price has somewhat slowed this weekend, the second-largest cryptocurrency has managed to hang around the $3,600 level. However, the latest on-chain data has cast doubt on the capacity of the ETH token to continue its bullish rally in the coming days.

Ethereum’s Binance Reserve Hits New High 

In a Quicktake post on the CryptoQuant platform, CryptoOnchain revealed that Ethereum recently hit its highest reserve level on the world’s largest cryptocurrency exchange by trading volume, Binance.

Related Reading

This on-chain observation was based on the Exchange Reserve metric, which measures the total amount of Ether tokens being held in wallets on a crypto exchange (Binance, in this case) at a given time. It also gives an insight into the netflow into these Binance wallets.

When inflows overshadow the outflows, the Binance Ethereum reserve increases, meaning there is more ETH token on the exchange. On the other hand, more outflows compared to the inflows means the exchange reserve decreases. 

According to the analyst, the last time the Binance Ethereum reserves hit a new high was in November 2022. This latest occurrence indicates increased strength in exchange activity over the past weeks.

CryptoOnchain further explained that while this increased activity might mean potential selling pressure for the cryptocurrency, the context suggests that the opposite is the case. With the Ethereum price experiencing its bullish rally, this growth in market participation could be a result of renewed bullish sentiment.

ETH Dominance Regains Lost Ground

CryptoOnchain also reported that Ethereum’s dominance is reaching levels it had previously lost in its periods of poor performance. 

The relevant on-chain indicator here is the Market Cap ETH Dominance, which measures the percentage of Ethereum’s market capitalization compared to other cryptocurrencies’ market capitalization. This indicates Ethereum’s share in the overall crypto market, and is usually represented in a Renko chart.

The Renko chart shared by the analyst reflects a “strong bounce” from the critical 8% support zone, as it heads towards 11.2%.

Related Reading

The online pundit further explained that with a notable divergence seen on the Moving Average Convergence Divergence (MACD), this strength could mean growing Ethereum leadership as Bitcoin’s momentum cools. CryptoOnchain, however, expects this growing dominance to face resistance around the 14% level.

If Ethereum’s dominance holds, and its price manages to stay above $3,500, there might be further upside movement. The analyst, however, preached caution in market involvement as Ethereum approaches the aforementioned resistance, which might cause possible short-term corrections.

As of this writing, Ethereum is valued at about $3,655, reflecting a 1.5% increase in the past 24 hours.

Featured image from iStock, chart from TradingView

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In an announcement yesterday, Nasdaq-listed software company GameSquare Holdings revealed that it had purchased $5 million worth of Ethereum (ETH) as part of its $100 million ETH-focused treasury strategy. With this move, GameSquare joins a growing number of companies diversifying their corporate treasuries by investing in digital assets.

GameSquare Embraces Ethereum As Part Of Treasury Strategy

As the cryptocurrency market regains bullish momentum – highlighted by Bitcoin (BTC) reaching successive all-time highs (ATHs) over the past few days – mainstream interest in digital assets is once again surging. In this context, Ethereum continues to see rising adoption.

The Texas-based firm recently completed its initial ETH purchase, acquiring 1,818.84 ETH at a weighted average price of $2,749, totalling $5 million. This marks the first step in GameSquare’s broader plan to deploy $100 million into Ethereum and related digital assets.

The company’s strategy focuses on building a crypto-native treasury framework designed to generate sustainable, risk-adjusted yield through decentralized finance (DeFi) protocols and the broader Ethereum ecosystem. Commenting on the development, Justin Kenna, CEO of GameSquare said:

In partnership with Dialectic and Ryan Zurrer, we are leveraging Medici, Dialectic’s proprietary platform that combines machine learning, automated optimization, and multi-layered risk controls, to target best-in-class risk-adjusted yields of 8-14%, well above current staking benchmarks of 3-4%.

Unlike traditional treasury strategies focused around Bitcoin, GameSquare’s ETH allocation seeks to actively generate yield by engaging with DeFi infrastructure, rather than simply holding the asset. This signals a novel growing trend of companies favoring ETH over BTC for treasury diversification.

While pursuing higher returns typically involves increased risk, Medici’s reputation for advanced risk management and performance tracking offers a layer of confidence. As more companies embrace ETH-based yield strategies, DeFi protocols are likely to attract deeper liquidity over time.

Smart Money Accumulating ETH

Despite currently trading about 40% below its ATH of $4,878  – set back in November 2021 – Ethereum is seeing increased accumulation by large investors, often referred to as “smart money.”

For instance, recent on-chain data shows that ETH whales – wallets holding between 10,000 to 100,000 ETH – added heavily to their holdings earlier this month, scooping as much as 200,000 ETH.

Simultaneously, Ethereum-based spot exchange-traded funds (ETFs) are gaining traction. Data from SoSoValue indicates nine consecutive weeks of positive inflows as of July 10, reinforcing broader investor interest in ETH.

That said, some caution remains warranted, as not all ETH-focused treasury strategies have yielded favorable results historically. At press time, ETH trades at $2,993, up an impressive 7.4% in the past 24 hours.

Featured image from Unsplash.com, charts from SoSoValue and TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Shares of Nasdaq-listed cryptocurrency exchange Coinbase (COIN) rose 43% this month, making the firm the top performer in the S&P 500 since it joined the index at the end of last month.

June’s run is already the stock’s best since November and caps three straight monthly gains. Coinbase’s shares reached their highest level since their public debut.

COIN hit a $382 high this week before enduring a slight correction, ending the week at $353 and seeing a slight 0.7% drop in after-hours trading to $351.

The wider S&P 500 index rose roughly 5% in June as geopolitical tensions eased.

Washington’s progress on the GENIUS Act, Congress’s first rulebook for dollar-pegged stablecoins, helped shift investor focus from trading fees to stablecoin revenue.

The bill brightened the outlook for Circle, whose shares hit a record high and saw its market cap near that of Coinbase this week.

Coinbase keeps all yield on USDC balances held on its platform and nearly half of other USDC income, equal to about 99 percent of Circle’s revenue, giving shareholders indirect exposure at no added cost, CNBC reported Friday, citing analysts including Citizens’ head of financial technology research Devin Ryan.

Trading, however, remains subdued. Average daily volume on Coinbase has drifted lower since April.

As Bitcoin (BTC) enters the third quarter (Q3) of 2025, bullish sentiment is growing, fueled by historical post-halving patterns that have repeatedly marked the beginning of explosive market moves. A crypto analyst now points to recurring trends observed in past cycles, where Q3 has often acted as a launchpad for significant price rallies in BTC following each halving year. 

Bitcoin Post-Halving Years Point To Explosive Q3

Luca, a crypto market expert on X (formerly Twitter), has doubled down on expectations for a major Bitcoin price rally in the coming quarter. He argues that expectations of an extended consolidation in Bitcoin, based on the fractals and market behavior seen in 2023 and early 2024, fail to account for a critical factor: 2025 is a post-halving year. 

Related Reading

The analyst points to a consistent pattern observed in every post-halving year throughout Bitcoin’s history. In his chart analysis published on June 26, Luca notes that Q3 in these years have consistently demonstrated strength, with no historical precedent for weakness, reinforcing the case for a bullish breakout. 

The chart compares Q3 performance during the post-halving years of 2013, 2017, and 2021. In each case, Bitcoin entered the third quarter with moderate or corrective price action, only to rally significantly in the weeks that followed. 

The left panel of the chart shows the 2013 post-halving year, where Bitcoin went from under $100 in July to over $680 in November. In 2017, the middle panel highlighted a similar trajectory, where BTC broke out from under $2,800 in early Q3 to over $16,000 by year-end.

The most recent cycle in 2021, shown in the right panel of the chart, saw a Q3 recovery rally that took Bitcoin from under $39,000 in July to a former all-time high above $69,000 in November.  

Notably, Luca maintains that this consistent historical behavior is not coincidental, predicting that a similar rally could unfold in the current cycle, within the next few months. While he acknowledges the possibility of a short-term pullback, he emphasizes that Bitcoin’s broader market structure remains firmly bullish, with momentum still favoring further upside. 

Analyst Predicts $140,000 – $160,000 Bitcoin Cycle Top

Moving forward, Luca’s chart reveals technical factors that align with his bullish thesis. Based on key Fibonacci Extension levels, the analyst projects that BTC’s next cycle top falls between $140,000 and $160,000, a target he believes could be attained toward the end of Q3. 

Related Reading

While acknowledging that the exact target could shift depending on how technical confluences evolve, the expectation remains that a Bitcoin rally is imminent. With BTC now trading around $107,423 after rebounding from a previous dip below $100,000, a potential move to $140,000 or even $160,000 would mark a substantial gain of approximately 30.35% and 48.97%, respectively. 

Featured image from Unsplash, chart from TradingView

Those numbers show how much these tokens fuel trades, loans and cross-border transfers. Yet questions about whether they really count as “money” are now front and center.

Stablecoin On-Chain Traffic

Based on reports, stablecoins have become the workhorses of crypto trading. Volume hit 35 trillion in the last 12 months. At the same time, their circulating supply stayed at 194.6 billion.

That steady supply suggests tokens like USDC and USDT are parked, ready for the next move. Traders shift them in and out of Bitcoin and altcoins. Payment platforms weave them into digital rails. The scale is hard to ignore.

IMF Deputy MD Raises Money Question

According to IMF Deputy Managing Director Bo Li, the big challenge is classification. Are stablecoins part of M0, M1 or a new category altogether? He posed those questions at the 2025 World Economic Forum in Davos.

Getting that wrong could reshape how banks set reserves and how regulators cut red tape. Li also pointed out that policy experiments are popping up all over. Some of them may not survive a real stress test.

Key Takeaways: IMF’s Bo Li said regulatory uncertainty around stablecoins persists, especially regarding classification and enforcement. Global financial bodies are working to align frameworks but… https://t.co/V75hFYV5pX #Stablecoin #Cryptocurrency #IMF #Regulation #Finance

— Entrepreneur_cm (@entrepreneur_cm) June 25, 2025

National Rules Diverge

Based on policy outlines, the US is moving ahead with the GENIUS Act. Europe has drafted its own rulebook. Over in Asia, Hong Kong plans to roll out its Stablecoin Ordinance in August 2025.

Those efforts show a strong push to make rules more clear. But they also underscore a lack of global unity.

Businesses could face one set of rules in New York, another in Brussels and a third in Hong Kong. That patchwork approach risks adding costs for firms and confusion for users.

Global Bodies Seek Cooperation

According to Bo Li’s remarks, fragmented rules carry real risks. He warned that gaps in enforcement might let bad actors slip through.

To avoid that, the IMF is teaming up with the Financial Stability Board and the Basel Committee. Their goal is to craft more consistent guidance. If they pull it off, regulators in different countries might follow a shared playbook rather than compete by cutting corners.

Market Keeps Growing

Based on market data, stablecoin supply has now topped 250 billion. A large share of that capital is parked in Bitcoin, waiting for the next rally. Some analysts spot chart patterns that echo early altcoin breakouts.

That could signal a fresh surge of trading across tokens once confidence builds. For now, stablecoins sit at the center of crypto plumbing.

Featured image from Unsplash, chart from TradingView

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Ross Ulbricht has received a massive gift from the crypto world. He was pardoned earlier this year and, within hours, 300 Bitcoins—worth about $31.4 million—were sent to his donation wallet.

He’s already seen support from big players like Kraken, which gave $111,111 in Bitcoin, and grassroots efforts that raked in roughly $270,000. Now he has enough to start over, and many in the crypto community are watching closely.

Community Support Flows

According to blockchain analysis platform Lookonchain, the 300 BTC landed in Ulbricht’s wallet just hours after it was sent. This isn’t the first time generous backers have reached out.

Ross Ulbricht(@RealRossU), the founder of the #SilkRoad marketplace, received 300 $BTC($31.4M) to his donation wallet 8 hours ago.https://t.co/3DEsM9rpBq pic.twitter.com/JoUMNqM99p

— Lookonchain (@lookonchain) June 1, 2025

Earlier in 2025, Kraken quietly wired over $111,111 to help him adjust to life outside prison. A group called Free Ross has claimed more than $270,000 in donations.

Another address tied to Ulbricht gathered $4,615 in Ethereum, USDC, Tether (USDT), and Binance Coin (BNB). All of this suggests that plenty of people still care deeply about his fate.

Presidential Pardon And Backlash

On January 21, 2025, US President Donald Trump signed a full and unconditional pardon for Ulbricht. He’d spent 11 years serving a double life sentence without parole after being convicted in New York in 2015 of narcotics and money-laundering conspiracy.

Based on reports, Ulbricht could have access to inactive Bitcoin wallets connected to Silk Road, and those wallets may hold roughly $47 million. That potential stash has only fueled more debate: some ask whether he really needs outside donations if he can tap into $47 million in dormant coins.

Auction Of Personal Items

Ulbricht has also turned to selling pieces of his past. Based on reports from Scarce City—the Bitcoin-powered collectibles platform—he’s raised about $1.8 million by auctioning personal items and art.

His prison ID card drew the highest bid: 11 BTC, now worth more than $1.1 million. An oil painting made with help from fellow inmate “Omega” sold for 1.01 BTC. Thirteen artifacts in all were up for grabs, including prison sneakers, a sweatsuit, a t-shirt, a prison notebook, and a locker lock.

Before his arrest, he’d owned things like a djembe drum, a backpack, and Vibram FiveFingers shoes. Bidders must complete payment by June 2, and Ulbricht has said he’s ready to move on from these physical reminders.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.