El Salvador, Metaplanet Expand Bitcoin Holdings Amid Price Dip

El Salvador and Metaplanet, a Tokyo-listed Bitcoin treasury firm, have both taken advantage of the recent dip in Bitcoin's price to expand their investments in the leading cryptocurrency. This move comes as Bitcoin's value fell to a three-month low below $90,000 due to a broader market downturn that resulted in over $1 billion in liquidation.

On Feb. 24, El Salvador's President Nayib Bukele announced that the country had acquired an additional 7 BTC, worth around $614,000. This purchase increases El Salvador's Bitcoin holdings to 6,088 BTC, which are valued at approximately $541 million based on current market rates. El Salvador's move comes after the country paused its daily Bitcoin purchase strategy last week, prompting media speculation. Since November 2022, the nation has consistently bought one Bitcoin each day. However, the last purchase before this recent acquisition occurred on Feb. 18, leading to rumors that El Salvador might be yielding to pressure from the International Monetary Fund (IMF) to reduce its BTC exposure. President Bukele's announcement on X silenced skeptics, as he captioned the news with "O ye of little faith," reinforcing the nation's commitment to its Bitcoin strategy despite external pressures.

At the same time, Metaplanet has also taken advantage of the price drop by acquiring 135 BTC worth about ¥1.9 billion ($12.9 million) at an average price of ¥14.3 million ($95,961) per Bitcoin. With this latest acquisition, Metaplanet's total Bitcoin holdings now stand at 2,235 BTC—an increase from the 1,761 BTC held at the end of 2024. Metaplanet CEO Simon Gerovich emphasized the company's focus on maximizing Bitcoin yield, targeting a 35% quarterly yield in 2025. He noted that the firm has already achieved a cumulative yield of 23.2% this quarter. Meanwhile, this acquisition aligns with Metaplanet's goal of amassing 10,000 BTC by the close of 2025 and 21,000 BTC by the end of the following year.