BTC Up 1.13% to $84,655, Metaplanet Boosts Bitcoin Holdings by $26 Million BTC Up 1.13% to $84,655, Metaplanet Boosts Bitcoin Holdings by $26 Million

Key moments

• Bitcoin’s value saw an increase of 1.13% to $84,655.
• A recent purchase saw Metaplanet’s Bitcoin reserves exceed 4,500 BTC.
• Swedish Member of Parliament Rickard Nordin has proposed that the country’s Finance Minister explore the possibility of including Bitcoin within the nation’s foreign exchange reserves.

Bitcoin Gains Ground Amid Trade Optimism

On Monday, Bitcoin gained over 1% to reach $84,655. This positive price action for the leading cryptocurrency occurred against a backdrop of slightly improved risk appetite in global markets. A contributing factor to this cautious optimism appeared to be a marginal easing of concerns surrounding trade tensions between the United States and China. Specifically, the US administration’s decision to grant exemptions on tariffs for certain technology imports from China seemed to provide some temporary relief to market participants.

While this partial reprieve from tariffs offered a degree of comfort, anxieties regarding a broader and potentially worsening trade war continued to linger in the market. These persistent concerns likely tempered more significant gains in risk-associated assets, including cryptocurrencies.

Over the preceding weeks, the cryptocurrency market had experienced considerable volatility, mirroring the wider unease stemming from global trade friction. Bitcoin itself had seen substantial price swings, falling to lower levels before staging a recovery as the US President hinted at the partial easing of tariff impositions on key trading partners. China’s partial reprieve from tariffs, in particular, offered a degree of comfort.

In a separate development highlighting institutional interest in Bitcoin, Metaplanet, a Japanese company with a strategic focus on Bitcoin treasury management, revealed a purchase of 319 BTC on Monday. The transaction was valued at approximately $26 million, and the firm now holds over 4,500 BTC. This latest acquisition further demonstrates Metaplanet’s continued bullish outlook on the cryptocurrency’s long-term value despite ongoing market fluctuations.

Adding another layer to the evolving sentiments surrounding Bitcoin, a recent regulatory development in Sweden has garnered attention. Rickard Nordin, a Member of Parliament, proposed last week that the nation’s Finance Minister consider Bitcoin’s incorporation into Sweden’s foreign exchange reserves. In a formal inquiry, Nordin articulated the view that Bitcoin’s similarity to traditional safe-haven assets, coupled with its increasing global adoption and utility, position it as a viable instrument for hedging amid rising inflation.