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Japanese firm Metaplanet has announced that it is issuing $15 million in ordinary bonds, with funds dedicated to acquiring Bitcoin .

The decision signals its intention to double down on its accumulation strategy, shrugging off BTC’s latest price dip from its multi-month high of $105,000.

Metaplanet’s $15 Million Bet on Bitcoin

According to the official disclosure, the bonds carry a 0% interest rate and are set to mature on November 12. They are valued at $375,000. Metaplanet’s latest bond issuance aims to push its holdings closer to its target of 10,000 Bitcoins by the end of 2025.

If the firm raises the full $15 million, it could acquire approximately 147 BTC at current prices. This move follows its acquisition of 1,241 Bitcoin yesterday, valued at $126.7 million, bringing its total holdings to 6,796 BTC.

This strategy aligns with a broader trend in 2025: a shift in Bitcoin ownership from individual investors to institutions and governments. According to data from River, businesses are now the leading buyers of Bitcoin, even outpacing governments and exchange-traded funds (ETFs).

Strategy — previously known as MicroStrategy — continues to spearhead this trend. The company disclosed on May 12 that it had acquired 13,390 BTC for $1.34 billion. The coins were purchased at an average price of $99,856 per coin.

This addition increased Strategy’s total Bitcoin holdings to 568,840 BTC, acquired at an average cost of $69,287 per coin.

Still, not everyone views this plan as sustainable. Economist and Bitcoin critic Peter Schiff took to X to caution against the potential fallout.

He stressed that if Bitcoin’s price falls again, it could dip below Strategy’s average purchase price for their coins. Since Strategy borrowed money to fund these acquisitions, a price drop could be problematic.

If forced to sell their holdings to repay debt, the losses would become “real” instead of just theoretical. This magnifies the risk of leveraging Bitcoin, especially when the market is volatile.

This warning comes amid BTC’s latest dip. On May 12, the price pumped to highs last seen on January 31 after the US and China agreed on a 90-day tariff deal.

Nevertheless, after peaking at $105,705, Bitcoin tumbled. It quickly shed 3.7% of its gains to trade at $101,725 at press time. Despite this, analysts remain optimistic that the current rally still has room to grow and could propel BTC to all-time highs.

Cardano price started a fresh increase above the $0.750 zone. ADA is now correcting gains from $0.8650 and testing the $0.7750 support.

• ADA price started a decent increase above $0.750 and $0.7750.
• The price is trading below $0.80 and the 100-hourly simple moving average.
• There was a break below a connecting bullish trend line with support at $0.820 on the hourly chart of the ADA/USD pair (data source from Kraken).
• The pair could start another increase if it clears the $0.80 resistance zone.

Cardano Price Dips To Support

In the past few days, Cardano saw a fresh increase above the $0.750 level, like Bitcoin and Ethereum. ADA was able to clear the $0.7750 and $0.80 resistance levels.

It tested the $0.8650 zone. A high was formed at $0.8634 and the price recently corrected some gains. There was a move below the $0.80 level. Besides, there was a break below a connecting bullish trend line with support at $0.820 on the hourly chart of the ADA/USD pair.

The pair tested the $0.7750 zone. A low was formed at $0.7742 and the price is now consolidating below the 23.6% Fib retracement level of the recent decline from the $0.8634 swing high to the $0.7742 low.

Cardano price is now trading below $0.80 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.80 zone. The first resistance is near $0.8180. The next key resistance might be $0.8450.

If there is a close above the $0.8450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.880 region. Any more gains might call for a move toward $0.90 in the near term.

More Losses in ADA?

If Cardano’s price fails to climb above the $0.80 resistance level, it could start another decline. Immediate support on the downside is near the $0.7750 level.

The next major support is near the $0.740 level. A downside break below the $0.740 level could open the doors for a test of $0.7050. The next major support is near the $0.680 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.7750 and $0.7400.

Major Resistance Levels – $0.8000 and $0.8180.

Bitcoin has continued its upward trend, recording a weekly price increase of 10.4% and currently trading at $103,881. The asset has surged over 24% in the last month, fueled by growing optimism across both crypto and traditional markets.

Although still about 4% below its January all-time high, the latest developments suggest that bullish momentum may be building again. This renewed price strength appears to be supported by significant capital movements, including a notable Bitcoin outflow from the Binance exchange.

Bitcoin Exchange Outflows Suggest Accumulation Phase

According to recent data shared on CryptoQuant’s QuickTake platform by analyst Amr Taha, over 3,000 BTC, valued at approximately $312 million, was withdrawn from Binance on May 12, marking one of the largest daily outflows in recent months.

This coincided with a key macroeconomic development: a new trade agreement between the United States and China, which also sparked a sharp rebound in US equity markets, with the S&P 500 jumping more than 3%.

Taha’s analysis indicates that this substantial Bitcoin withdrawal is part of a broader trend. Binance’s BTC reserves have declined consistently, falling from approximately 595,000 BTC in late February to 541,400 BTC by mid-May.

The ongoing reduction in exchange balances typically signals a preference among investors for cold storage solutions or private wallets. Historically, such moves are viewed as indicative of accumulation behavior, suggesting lower near-term selling pressure and a more bullish medium-term outlook.

The timing of the withdrawal, immediately following a geopolitical breakthrough between two of the world’s largest economies, adds further context. Taha highlights that capital markets responded positively to the easing of US-China tariff tensions, and the corresponding activity in the crypto space suggests Bitcoin investors are aligning their strategies accordingly.

With macro uncertainty temporarily subdued, large holders appear to be repositioning for potential future gains, removing liquidity from exchanges to mitigate exposure and reduce immediate sell-side pressure.

Macro Trends Influence Market Positioning

The analyst further noted that market participants seem to be increasingly responsive to macro signals. The scale of the BTC withdrawal on May 12, paired with rising equity markets, illustrates how capital is shifting across asset classes in response to broader economic developments.

Taha suggests this coordinated movement reflects renewed risk appetite and a possible recalibration of investor strategies in light of improving global trade dynamics.

While it remains to be seen whether this momentum can be sustained, recent patterns support the view that long-term holders and institutional participants are gaining confidence in Bitcoin’s role within a diversified investment strategy.

As traditional markets recover and geopolitical risks ease, Bitcoin’s reduced exchange reserves and growing off-exchange holdings may lay the groundwork for another test of its all-time high. The coming weeks will likely be crucial in determining whether current inflows translate into a full-scale breakout or a period of consolidation.

Featured image created with DALL-E, Chart from TradingView

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