Ether’s market capitalization surged 42% in five days following the successful launch of Ethereum’s Pectra upgrade on its mainnet. 

On May 12, the company data tracker 8marketcap showed Ether (ETH) surpassing Coca-Cola and Alibaba, ranking as the world’s 39th-largest asset by market capitalization. ETH was trading at about $2,550 at publication time, with a market cap exceeding $308 billion. 

By comparison, Coca-Cola stock trades at around $70, giving it a market cap of $303.5 billion. Alibaba stock trades at about $125, with a market capitalization of $303.7 billion. 

ETH’s recent price action comes on the heels of a network upgrade that improved the storage of layer-2 scaling data, validator user experience and smart account wallet user experience features. 

Ether surpasses Coca-Cola and Alibaba in market capitalization. Source: 8marketcapEthereum implements Pectra upgrade on mainnet

Originally scheduled for March 2025, Pectra faced delays after technical challenges arose during testing.

On Feb. 24, the upgrade was deployed on Ethereum’s Holesky testnet. Following the deployment, the upgrade failed to finalize on the network, leading the developers to investigate and address the issues. On March 5, Pectra was rolled out to the Sepolia testnet, but developers encountered errors made worse by an attacker who caused the mining of empty blocks. 

To further prepare for the deployment, Ethereum core developers created a new testnet called “Hoodi” before finally deploying the upgrade to the mainnet on May 7. 

With the upgrade, externally owned accounts (EOAs) can act as smart contracts to cover gas fees and payments using tokens that are not ETH. In addition, validator staking limits were increased to 2,048 ETH from 32 ETH, simplifying operations for large stakers. The upgrade also increased the number of data blobs per block, allowing better scalability for layer-2 networks.

Since the upgrade, ETH’s price has escalated. On May 7, Ether traded at about $1,786, according to CoinGecko. On May 12, Ether went as high as $2,550, representing a 42% increase in value. 

Ether’s seven-day price chart. Source: CoinGecko

Related: Vitalik Buterin outlines vision as Ethereum ecosystem addresses hit new high

Security professionals warn of risks post Pectra upgrade

Still, the upgrade introduced security risks. Post upgrade, cybersecurity experts have warned that attackers could exploit a new transaction type to control EOAs without users signing onchain transactions. 

Solidity smart contract auditor Arda Usman previously cautioned in comments to Cointelegraph that these vulnerabilities may allow attackers to drain funds through offchain signed messages.

Magazine: 12 minutes of nail-biting tension when Ethereum’s Pectra fork goes live

Goldman Sachs-backed cryptocurrency custody firm BitGo is the latest cryptocurrency company to secure regulatory approval to operate across the European Union.

Germany’s financial regulator, the Federal Financial Supervisory Authority (BaFin), granted BitGo Europe a Markets in Crypto-Assets Regulation (MiCA) license to provide digital asset services in the EU, the firm announced on May 12.

The license allows BitGo to offer services to crypto-native firms and traditional finance institutions, including banks and asset managers within the EU.

Source: BitGo

“This license underscores our commitment to the highest standards of security, transparency, and trust,” BitGo Europe managing director Harald Patt said.

BitGo set up the EU headquarters in 2023

Founded in 2013 in Palo Alto, California, BitGo is a major platform in the cryptocurrency industry specializing in crypto custodial services, holding cryptocurrencies like Bitcoin (BTC) on behalf of its clients. 

BitGo’s latest regulatory milestone in Europe follows efforts to increase its presence in the EU, including establishing local headquarters in Frankfurt in 2023.

Since setting up BitGo Europe in Germany, BitGo has received multiple registrations in EU states, including Italy, Spain, Poland and Greece.

“With the MiCA license now secured, BitGo can operate across the entire EU under a unified, forward-looking regulatory framework,” the firm said in the announcement.

“Broad range of institutional-grade solutions”

BitGo did not specify the services it intends to roll out immediately under the new MiCA license.

“BitGo’s MiCA licence comes at a pivotal moment as BitGo expands its product suite to offer a broad range of institutional-grade digital asset solutions,” the announcement added.

Related: Tether CEO defends decision to skip MiCA registration for USDT

As of May 12, BaFin’s official records did not yet reflect BitGo’s MiCA license, showing only earlier registrations.

BaFin data on BitGo’s registrations in Germany as of May 12, 2025, 8:30 am UTC. Source: BaFin

Cointelegraph approached BitGo for additional details on its MiCA license but did not receive a response by the time of publication.

As previously mentioned, Germany has emerged as a major jurisdiction for European businesses seeking MiCA registration, with BaFin issuing licenses to several companies, including Bitpanda and Boerse Stuttgart Digital Custody, in 2025.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Goldman Sachs-backed cryptocurrency custody firm BitGo has become the latest cryptocurrency company to secure regulatory approval to operate across the European Union.

Germany’s financial regulator, the Federal Financial Supervisory Authority (BaFin), granted BitGo Europe a Markets in Crypto-Assets Regulation (MiCA) license to provide digital asset services in the EU, the firm announced on May 12.

The new license allows BitGo to offer services to both crypto-native firms and traditional finance institutions, including banks and asset managers within the EU.

Source: BitGo

“This license underscores our commitment to the highest standards of security, transparency, and trust,” BitGo Europe managing director Harald Patt said.

BitGo set up the EU headquarters in 2023

Founded in 2013 in Palo Alto, California, BitGo is a major platform in the cryptocurrency industry specializing in crypto custodial services, holding cryptocurrencies like Bitcoin (BTC) on behalf of its clients. 

BitGo’s latest regulatory milestone in Europe follows a number of efforts to increase presence in the EU, including establishing local headquarters in Frankfurt in 2023.

Since setting up BitGo Europe in Germany, BitGo has received multiple registrations in several EU states, including Italy, Spain, Poland and Greece.

“With the MiCA license now secured, BitGo can operate across the entire EU under a unified, forward-looking regulatory framework,” the firm said in the announcement.

“Broad range of institutional-grade solutions”

BitGo did not specify the exact services it intends to roll out immediately under the new MiCA license.

“BitGo’s MiCA licence comes at a pivotal moment as BitGo expands its product suite to offer a broad range of institutional-grade digital asset solutions,” the announcement added.

Related: Tether CEO defends decision to skip MiCA registration for USDT

As of May 12, BaFin’s official records did not yet reflect BitGo’s MiCA license, showing only earlier registrations.

BaFin data on BitGo’s registrations in Germany as of May 12, 2025, 8:30 am UTC. Source: BaFin

Cointelegraph approached BitGo for additional details on its MiCA license but did not receive a response by the time of publication.

As previously mentioned, Germany has emerged as a major jurisdiction for European businesses seeking MiCA registration, with BaFin issuing licenses to several companies, including Bitpanda and Boerse Stuttgart Digital Custody, in 2025.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Key takeaways:

Bitcoin broke above $105,700 after the US and China agreed to slash tariffs.

A confirmed bull flag breakout on the weekly chart projects $150,000.

Bitwise’s sentiment index warns of potential short-term overheating.

Bitcoin (BTC) bulls cheered a major development in the ongoing US-China tariff talks, with the cryptocurrency climbing over the $105,700 mark on May 12 for the first time in four months, further confirming a bullish continuation setup with a $150,000 price target.

BTC/USD weekly price chart. Source: TradingViewUS-China trade truce fuels Bitcoin boom

The catalyst behind Bitcoin’s breakout appears to be de-escalating trade tensions between the US and China.

Over the weekend, US Treasury Secretary Scott Bessent and Chinese Vice President He Lifeng struck a deal in Geneva to reduce tariffs that had crippled bilateral trade for months.

Source: David Ingles, Chief Markets Editor, Bloomberg

Under the deal, the US will lower tariffs on Chinese goods from 145% to 30%, while China will reduce its duties on US imports from 125% to 10%.

Related: US-China trade deal could shed light on Bitcoin’s use case: Trader

The agreement triggered a broad-based market rally, with S&P 500 futures rising 2.8% and the US dollar gaining 0.7%. In contrast, gold dropped 2.3%, signaling a shift away from safe-haven assets.

S&P 500 futures, gold, and the US Dollar Index weekly chart comparison. Source: TradingView

Bitcoin, often seen as a high-beta risk asset, had suffered under the weight of the trade war, with increased investor caution suppressing crypto inflows. The truce now signals improved liquidity and risk appetite, conditions historically favorable for BTC rallies.

Bull flag breakout points to $150K target

The current Bitcoin rally follows the textbook breakout of a bull flag pattern on the weekly chart, a bullish continuation setup formed when the price consolidates downward in a parallel channel after a sharp upward move.

In Bitcoin’s case, the flag began forming after BTC peaked at nearly $110,000 in January. The consolidation persisted for months until early May, when the price broke above the flag’s upper trendline with a slight volume increase.

BTC/USD weekly price chart. Source: TradingView

This breakout confirms bullish continuation, with the pattern’s projected upside target now sitting near $150,000, measured after adding the height of the initial flagpole to the breakout point.

Momentum indicators, including the relative strength index (RSI), are also supportive, with weekly RSI rebounding above 65, reflecting renewed buying pressure without entering overbought territory above 70.

BTC may return to $100,000 first

Some analysts are urging caution as Bitcoin’s sentiment is becoming euphoric.

André Dragosch, European head of research at Bitwise, noted that the firm’s Cryptoasset Sentiment Index had reached its highest level since November 2024, a level that previously aligned with local market tops.

Cryptoasset Sentiment Index. Source: Bitwise

The chart shows that past peaks in sentiment, such as those in April 2022, October 2023, and November 2024, were followed by short-term corrections or sideways price action.

This suggests growing optimism may be stretched, raising the risk of a near-term pullback despite Bitcoin’s strong long-term outlook.

Bitcoin’s price was retracing following its climb above $107,000 as of May 12, with its daily RSI alarming about overbought conditions.

BTC/USD daily price chart. Source: TradingView

The next support target sits around $100,000, aligning with its 0.786 Fibonacci retracement line.

A decisive drop below the level could have BTC test its exponential moving average (EMA) supports below, with the 20-day EMA (the purple wave) at around 97,385 as the initial downside target.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Key takeaways:

Bitcoin broke above $105,700 after the US and China agreed to slash tariffs.

A confirmed bull flag breakout on the weekly chart projects a $150,000.

Bitwise’s sentiment index warns of potential short-term overheating.

Bitcoin (BTC) bulls cheered a major development in the ongoing US-China tariff talks, with the cryptocurrency climbing over the $105,700 mark on May 12 for the first time in four months, further confirming a bullish continuation setup with a $150,000 price target.

BTC/USD weekly price chart. Source: TradingViewUS-China trade truce fuels Bitcoin boom

The catalyst behind Bitcoin’s breakout appears to be de-escalating trade tensions between the US and China.

Over the weekend, US Treasury Secretary Scott Bessent and Chinese Vice President He Lifeng struck a deal in Geneva to reduce tariffs that had crippled bilateral trade for months.

Source: David Ingles, Chief Markets Editor, Bloomberg

Under the deal, the US will lower tariffs on Chinese goods from 145% to 30%, while China will reduce its duties on US imports from 125% to 10%.

Related: US-China trade deal could shed light on Bitcoin’s use case: Trader

The agreement triggered a broad-based market rally, with S&P 500 futures rising 2.8% and the US dollar gaining 0.7%. In contrast, gold dropped 2.3%, signaling a shift away from safe-haven assets.

S&P 500 futures, gold, and the US Dollar Index weekly chart comparison. Source: TradingView

Bitcoin, often seen as a high-beta risk asset, had suffered under the weight of the trade war, with increased investor caution suppressing crypto inflows. The truce now signals improved liquidity and risk appetite, conditions historically favorable for BTC rallies.

Bull flag breakout points to $150K target

The current Bitcoin rally follows the textbook breakout of a bull flag pattern on the weekly chart, a bullish continuation setup formed when the price consolidates downward in a parallel channel after a sharp upward move.

In Bitcoin’s case, the flag began forming after BTC peaked at nearly $110,000 in January. The consolidation persisted for months until early May when the price broke above the flag’s upper trendline with a slight volume increase.

BTC/USD weekly price chart. Source: TradingView

This breakout confirms bullish continuation, with the pattern’s projected upside target now sitting near $150,000, measured after adding the height of the initial flagpole to the breakout point.

Momentum indicators, including the relative strength index (RSI), are also supportive, with weekly RSI rebounding above 65, reflecting renewed buying pressure without entering overbought territory above 70.

BTC may return to $100,000 first

Some analysts are urging caution as Bitcoin’s sentiment is becoming euphoric.

André Dragosch, European Head of Research at Bitwise, notes that the firm’s Cryptoasset Sentiment Index has reached its highest level since November 2024, a level that previously aligned with local market tops.

Cryptoasset Sentiment Index. Source: Bitwise

The chart shows that past peaks in sentiment, such as those in April 2022, October 2023, and November 2024, were followed by short-term corrections or sideways price action.

This suggests growing optimism may be stretched, raising the risk of a near-term pullback despite Bitcoin’s strong long-term outlook.

Bitcoin’s price was retracing following its climb above $107,000 as of May 12, with its daily RSI alarming about overbought conditions.

BTC/USD daily price chart. Source: TradingView

The next support target sits around $100,000, aligning with its 0.786 Fibonacci retracement line.

A decisive drop below the level could have BTC test its exponential moving average (EMA) supports below, with the 20-day EMA (the purple wave) at around 97,385 as the initial downside target.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

US federal prosecutors have rebutted claims they suppressed evidence in their case against the co-founders of the crypto mixing service Samourai Wallet, arguing their disclosure of a conversation with Treasury Department staff was made within the required timeframes. 

In a May 9 letter to a Manhattan federal court, prosecutors opposed a request for a hearing, claiming they handed over “all known substantive communications” between them and the Treasury’s Financial Crimes Enforcement Network (FinCEN) regarding Samourai “months in advance of pretrial motions and trial.”

“The defendants will have seven months to make use of the information before trial,” they wrote. “Nothing more is warranted.”

On May 5, Samourai co-founders Keonne Rodriguez and William Hill asked the court for a hearing, claiming that prosecutors were late to disclose that FinCEN representatives told them six months before they charged the pair that under the agency’s guidance, the service “would not qualify as a ‘Money Services Business’ requiring a FinCEN license.”

However, prosecutors still charged the pair in February 2024 with conspiracy to operate an unlicensed money transmitting business and money laundering conspiracy, unsealing the charges and arresting the pair in April that year. They have both pleaded not guilty.

In their letter, prosecutors argued they “acted in good faith” in disclosing the “contents of this informal conversation” between them and Kevin O’Connor, the chief of FinCEN’s Virtual Assets and Emerging Technology Section in the Enforcement and Compliance Division, and Policy Division staffer Lorena Valente.

A highlighted excerpt of the prosecutors’ letter arguing that they disclosed a discussion with FinCEN on time and the discussion was an “informal conversation.” Source: PACER

They claimed O’Connor and Valente’s comments were “their individual, informal, and caveated opinion” on whether Samourai would need to register as a money transmitter under FinCEN regulations.

FinCEN “did not have a sense” of broaching Samourai

The prosecutor’s letter noted that an email from one of the prosecutors summarizing the August 2023 call with FinCEN said that because Samourai doesn’t take custody of the crypto, it “would strongly suggest that Samourai is NOT acting as an MSB [money services business].”

However, it noted FinCEN staff “did not have a sense of what FinCEN would decide if this question were presented to their FinCEN policy committee.”

An excerpt of an email from prosecutor Andrew Chan said FinCEN “did not have a sense” of what it would decide on Samourai. Source: CourtListener

Samourai’s lawyers had claimed that the call showed Rodriguez and Hill “were not money transmitters under FinCEN’s guidance” and that they “could not possibly be prosecuted for not having a license.”

The Samourai co-founders had bid to dismiss the case in April, pointing to Deputy Attorney General Todd Blanche’s memo released that month saying the Justice Department wouldn’t prosecute crypto mixers for “unwitting violations of regulations.” 

In their letter, prosecutors addressed the memo, arguing the court “should not consider” it, as the memo states it “may not be relied upon to create any right or benefit” against the US or its departments.

Legal Panel: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set 

Decentralized exchange Uniswap has hit a whopping $3 trillion in aggregate all-time volume, the first decentralized exchange to hit the number. 

Uniswap founder Hayden Adams noted the achievement in an X post on May 12, which included a screenshot of a Dune Analytics dashboard counting down to the milestone. 

Uniswap also has a current daily volume of $3.3 billion, according to Dune. DeFillama meanwhile shows Uniswap is the leading DEX with a 23% market share in daily volumes, which it reports as slightly lower at $3 billion over the past 24 hours. 

The second-largest DEX in volume is PancakeSwap, with $2.7 billion and a 21% DEX market share. 

Uniswap has a current total value locked of just under $5 billion. However, this figure is around half of its 2021 all-time high, as overall DeFi total value locked (TVL) is about half of what it was in late 2021.

DeFillama reports a DeFi TVL of $124 billion, while DappRadar reports $132 billion, with more than half of this total on Ethereum. 

Uniswap reaches total trade volume milestone. Source: Hayden Adams

Related: Decentralized exchanges gain ground despite $6M Hyperliquid exploit

The DEX’s native token, Uniswap (UNI), has not mirrored the platform’s performance and remains down more than 84% from its peak price of $45 four years ago in May 2021.

UNI had lost 3.4% on the day and was trading at just over $7 at the time of writing, according to CoinGecko. 

Uniswap smart wallet coming 

Adams also announced on May 12 that Uniswap was “rolling out our own 7702 wallet and supporting other 7702 wallets … with the goal being one-click swapping for all users.” 

EIP-7702 is an Ethereum Improvement Proposal led by Vitalik Buterin that went live with the Pectra upgrade on May 7.

It enhances Ethereum accounts to withstand potential threats from quantum computing and allows externally owned accounts to temporarily function as smart contracts during transactions.

Trust Wallet has already launched a smart account-compatible upgrade for its users, and Uniswap is set to follow. 

Magazine: Bitcoin eyes ‘crazy numbers,’ JD Vance set for Bitcoin talk: Hodler’s Digest

Crypto users could be looking for a more sustainable yield this cycle, as total value locked in decentralized finance (DeFi) lending continues to hit new highs while decentralized exchanges (DEXs) have lagged in comparison.

DeFi lending protocols are currently the leading DeFi vertical in TVL at $53.6 billion, representing 43% of the $124.6 billion locked across all DeFi protocols. The figure also surpasses liquid staking.

Multichain lending protocol Aave currently holds $25 billion of locked value, accounting for nearly half of the DeFi lending market.

Change in crypto lending protocol TVL since 2019. Source: DeFiLlama

In stark contrast, DEXs, which once held nearly double the TVL of their closest competitor, have dropped from $85.3 billion in November 2021 to $21.5 billion today.

Explaining the rise in DeFi lending and fall in DEX TVL, the founder of crypto fund Apollo Capital, Henrik Andersson, told Cointelegraph that lending is arguably the “only sustainable way to produce yield” in DeFi, as DEX liquidity pooling has largely become unprofitable due to impermanent loss.

He also argued that the industry-leading DEX Uniswap v3’s more “capital efficient” design, relative to Uniswap v2, may have contributed to the DEX TVL fall, as liquidity providers can now earn more rewards with less upfront capital.

Andersson also pointed out that the rise of intent-based swaps — a relatively new crosschain trading mechanism — may have further reduced the DEX TVL, as market makers typically source liquidity from centralized exchanges to facilitate these swaps.

DeFi lending protocols like Aave and Compound Finance enable crypto users to lend assets to earn interest or borrow against collateral. Smart contracts manage deposits, loans and interest rates to ensure trustless transactions.

DeFi users who supply Ether (ETH) and Tether (USDT) on Aave, for example, currently earn an annual percentage yield of 1.86% and 3.17%, respectively.

Providing stablecoins and Ether to DEX pools such as Uniswap’s can offer higher rewards; however, as Andersson pointed out, they’re far less sustainable, fluctuating by the day.

DeFi now dominates CeFi in crypto lending market 

DeFi-based crypto lending accounted for around 65% of the total market by the end of 2024 and has increased or maintained its market share against centralized lenders every quarter since Q4 2022, an April report from crypto investment firm Galaxy Digital showed.

The fall started occurring around the time several centralized crypto lenders such as Genesis, Celsius Network, BlockFi and Voyager fell bankrupt, causing TVL to fall massively.

Related: Bitcoin hits $103K but DeFi is a mixed bag: Finance Redefined

Their collective downfall led to an estimated 78% collapse in the size of the crypto lending market from the 2022 peak to the bear market trough, Galaxy noted.

Change in market share between centralized and decentralized crypto lending protocols between Q3 2018 and Q4 2024. Source: Galaxy Digital

However, it was DeFi lending protocols that led the resurgence in crypto lending activity, Galaxy noted, pointing to a near 960% increase in DeFi open borrows between Q4 2022 and Q4 2024.

Galaxy said the strong recovery of the DeFi lending market is a testament to the design and risk management practices adopted by DeFi lending protocols while showcasing the benefits of algorithmic, overcollateralized and supply-and-demand-driven borrowing models.

Galaxy expects increased institutional participation and clearer regulations to drive the next wave of crypto lending adoption.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Three teenagers have been accused of kidnapping a man at gunpoint after he was returning from a crypto event in Las Vegas, before driving him an hour outside of the city and robbing him of $4 million in crypto and non-fungible tokens.

According to police, the incident occurred last November. The victim had finished hosting a crypto-related event in downtown Las Vegas, and when he returned home, the suspects forced him into a vehicle and drove him to a remote desert area an hour away from the city. 

There, they forced him to hand over passwords to his accounts, according to a May 10 report from Las Vegas local news outlet 8 News Now. 

The man was allegedly told to comply with the teens’ demands if he wanted to “live to see another day,” and because they also “had his dad and would kill him,” according to the report. 

It’s also alleged that a fourth person may have been communicating with the three young men through a phone call during the incident, which the victim could hear through a speakerphone.

After having his accounts drained of $4 million in crypto and NFTs, the victim reportedly walked five miles back through the desert to reach a gas station where he could call a friend for help. 

Two 16-year-olds from Florida are facing charges including robbery, kidnapping, and extortion in connection with the incident. A third teen allegedly involved in the plot has left the country, prosecutors say.

One of the young men is behind bars with bail set at $4 million, while the other has been released under house arrest with electronic monitoring. A preliminary hearing is scheduled for June, with both teens set to be tried as adults. 

Digital asset lawyer Sasha Hodder said in a May 10 X post that this case illustrates how “Crypto theft is evolving. It’s not just social engineering or SIM swaps anymore.”

Source: Sasha HodderUptick in thieves targeting crypto industry offline

Crypto industry participants are increasingly becoming targets for kidnappings and extortion. In a recent May 3 case, the father of a crypto entrepreneur was freed by police in Paris, France, after being held for several days in connection with a 7 million euro ($7.8 million) kidnapping plot.

In February, a UK crypto broker reportedly jumped 30 feet from a balcony to escape kidnappers who were threatening to torture and kill him if he didn’t hand over 30,000 euros ($30,917) of crypto.

Related: Ledger co-founder released after days in captivity in France: Report

Meanwhile, Jameson Lopp, a cypherpunk and co-founder of self-custodial firm Casa, has created a list on GitHub recording dozens of offline crypto robberies all over the world. 

The first dates back to 2014, when someone allegedly tried to extort computer scientist and cryptographer Hal Finney of 1,000 Bitcoin (BTC) worth $400,000 at the time. 

There have been 21 incidents of in-person crypto-related robbery so far this year, according to Lopp’s list. In 2024, there were 28 incidents, while there were 17 in 2023 and 32 in 2021. 

Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express

Japanese investment firm Metaplanet has added another $129 million to its Bitcoin treasury, pushing its total holdings past the Bitcoin-stacking country of El Salvador. 

“Metaplanet now holds more Bitcoin than El Salvador. From humble beginnings to rivaling nation-states, we’re just getting started,” said CEO Simon Gerovich on X after the latest purchase announcement. 

On May 12, the Tokyo-listed firm announced that it had acquired 1,241 Bitcoin (BTC) for 14.8 million yen ($101,843) per coin.

The total buy, at its highest ever purchase price, is worth around $129 million at current market prices. 

This brings the firm’s total holdings to 6,796 Bitcoin, currently worth around $707 million, and the average purchase price is $91,000 per Bitcoin. Metaplanet started its BTC accumulation strategy in April 2024. 

El Salvador is the sixth-largest nation-state holder of the asset with 6,714 Bitcoin worth around $642 million, according to the National Bitcoin Office.

Source: Simon Gerovich

The Japanese investment firm also reported a Bitcoin Yield, which measures the ratio of percentage change in Bitcoin holdings per fully diluted share, of 38% for the current quarter to date. The firm achieved a BTC Yield of 95.6% during the first quarter of 2025. 

Related: Trump’s US-China trade deal could shed light on Bitcoin’s use case

Metaplanet has been more aggressive in its accumulation of the asset in recent months, with a purchase of 5,555 Bitcoin on May 7, four purchases in April totaling 18,586 BTC, and six purchases in March totaling 18,925 BTC, each buy larger than the previous. 

Metaplanet BTC purchase disclosure. Source: Metaplanet

The firm is the largest holder of Bitcoin in Asia and the tenth largest globally, according to BiTBO. 

Saylor hints at another buy 

Meanwhile, Michael Saylor hinted at another purchase by his firm, Strategy, on May 12, by posting a screenshot of the “Saylor Tracker” chart, which tracks the firm’s Bitcoin treasury portfolio. “Connect the dots,” was the accompanying comment. 

Source: Michael Saylor

Saylor has made similar Monday posts with a cryptic comment many times in the past, which have been followed by a BTC acquisition announcement. 

Strategy currently holds 555,450 BTC worth around $57.8 billion at current prices, according to the tracker. 

Magazine: Bitcoin eyes ‘crazy numbers,’ JD Vance set for Bitcoin talk: Hodler’s Digest