Public Companies Continue Buying Bitcoin as Price Nears $90,000
Bitcoin is recovering steadily after weeks of volatility due to US tariff concerns, and some public companies are not missing the opportunity to add to their holdings. Notable among them is Japan-based technology company Metaplanet, which made a major $28.2 million purchase, marking a new step in its Bitcoin accumulation strategy.
Metaplanet Accelerates BTC Buying During Recovery
Since former President Donald Trump spoke about the possibility of new tariffs, the cryptocurrency market has been in a short-term state of uncertainty, leading to large sell-offs and liquidations. However, after Trump postponed the plan, the market quickly reversed course, with Bitcoin rebounding strongly and attracting renewed interest from institutional investors.
Metaplanet CEO Simon Gerovich confirmed that the company had just purchased an additional 330 BTC at an average price of approximately $85,605 per BTC. As of April 21, 2025, Metaplanet holds a total of 4,855 BTC, worth approximately $414.5 million – an impressive 119.3% return year-to-date.
Market Sentiment Recovers, But Remains Cautious
The Fear and Greed Index – a measure of crypto market sentiment – dipped into “Extreme Fear” territory earlier this month, but has since rebounded significantly as investors have returned to the market. However, the current trend is still marked by “cautious optimism” rather than a sustained recovery.
Some crypto-related stocks are still showing a clear divide. MicroStrategy, the world’s largest Bitcoin holding company, has gained more than 4% in the past five days and nearly 6% in the past month. Meanwhile, Metaplanet, despite its continued buying, has lost more than 20% in the past 30 days.
Cryptocurrency mining companies like Marathon Digital have shown signs of recovery after a sharp decline in early April, while Riot Platforms continues to decline. Coinbase, the largest cryptocurrency exchange in the US, has also recorded only short-term rallies, with no clear reversal in sight.
Bitcoin Still a Long-Term Pillar of Faith
Despite short-term difficulties, Bitcoin’s long-term trend appears to be strongly supported by listed companies. Metaplanet’s continued expansion of its BTC portfolio may not immediately yield results in the stock market, but it is a strategy that demonstrates a strong belief in Bitcoin’s future potential.
As the world faces economic and political uncertainty, digital assets like Bitcoin are increasingly seen as a safe haven – especially for institutions looking to protect the value of their assets from inflation risks and geopolitical volatility.