Bitcoin Dips Below $108K, Ether Stays Above $2400
By Kapil Rajyaguru
Metaplanet Overtakes Musk’s Tesla, Becomes Fifth Largest Corporate Bitcoin Holder
Metaplanet, the Japanese hotelier that has been scooping up bitcoin, has become the fifth largest corporate holder of the largest cryptocurrency, racing past Elon Musk’s Tesla.
The Tokyo-listed firm bought 1,234 BTC for $133 million at an average price of $107,877. The latest buy has taken Metaplanet’s bitcoin stash to 12,345 BTC at an average price of $98,303.
Metaplanet has been steadily acquiring bitcoin, a strategy that has been copied by a host of firms across the world. The bitcoin reserve strategy was pioneered by Michael Saylor’s Strategy, which remains the largest corporate holder of bitcoin with over 570,000 BTC.
ProCap BTC, LLC Buys Another 1,208 Bitcoin; Total Holding Now 4,932
American investor and entrepreneur, Anthony Pompliano, has announced that ProCap BTC, LLC, a bitcoin-native financial services firm, has purchased 1,208 bitcoin at a time weighted average price of $105,977 per bitcoin. This follows Company’s announcement of a proposed $1 billion business combination with Columbus Circle Capital Corp. The plan is to take the company public as ProCap Financial, Inc. ProCap BTC, LLC now holds 4,932 bitcoin on its balance sheet.
ProCap Financial, Inc., the company resulting from the proposed Business Combination, will focus on implementing various profit-generating products and services to support the unique financial needs of large financial institutions and institutional investors.
US Housing Regulator FHFA Orders $8tn Mortgage Giants To Recognize Crypto Assets
The United States Federal Housing Finance Agency has ordered two government-sponsored enterprises to prepare to recognize crypto assets in mortgage qualification.
The agency issued the order to Fannie Mae and Freddie Mac in a letter signed by its Director, William Pulte. Notably, it ordered government-sponsored enterprises, such as Freddie Mac and Fannie Mae, to develop systems for recognizing cryptocurrencies as legitimate assets when evaluating a borrower’s financial strength during the mortgage application process.
For context, Freddie Mac and Fannie Mae currently back the majority of U.S. mortgages. According to Pulte, both enterprises have more than $7.8 trillion in assets, positioning them among the largest companies in the United States.
Crypto Exchange Kraken Secures MiCA License In Ireland
Cryptocurrency exchange Kraken announced that it can now expand its offerings and across European Union’s member states after securing a license under the Markets in Crypto-Assets (MiCA) framework.
Kraken said it had received the MiCA license from the Central Bank of Ireland, allowing the exchange to offer regulated services to residents in the 30 European Economic Area member states. The approval followed Kraken securing a Markets in Financial Instruments Directive (MiFID) license in February and an Electronic Money Institution (EMI) license in 2023.
Other crypto exchanges seeking to expand their regulated services to the EU region have likely sought MiCA approval. Coinbase, OKX, Crypto.com and Bybit have all announced MiCA licenses in 2025.
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