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Japanese investment firm Metaplanet has acquired 20.2 Bitcoin. This latest purchase brings its total holdings to 161.3 BTC. Michael Saylor isn't going to be jealous, just yet. But it's only a beginning of the long path to compete with him. The Tokyo-based company invested 200 million yen ($1.2 million) in this acquisition. Metaplanet announced the purchase on social media after the Tokyo Stock Exchange closed. Last week, Metaplanet revealed plans to invest $6 million in Bitcoin. The funds for this purchase will come from a recent bond sale. The company, dubbed "Asia's MicroStrategy," will record its long-term Bitcoin holdings at acquisition cost. These are exempt from quarterly market value assessments for tax purposes. Other Bitcoin holdings will be evaluated at market prices each quarter. Gains or losses will be recorded under non-operating income or expenses. Metaplanet decided to incorporate Bitcoin into its treasury assets in April. The move aims to reduce exposure to the Japanese yen, affected by low interest rates. Simply put, Bitcoin seems more stable for long-term investments, that yen. The company sees Bitcoin as a hedge against inflation and a tool for macroeconomic resilience. Metaplanet's strategy mirrors that of MicroStrategy, a Virginia-based software developer. MicroStrategy, run by Michael Saylor, has been buying Bitcoin for nearly four years. It now holds over 226,000 BTC, more than 1% of Bitcoin's total supply. That makes Saylor a constant and unyielding Bitcoin bull. This approach is not unique to Metaplanet and MicroStrategy. More companies are likely to follow suit. Corporate treasurers are exploring Bitcoin as a reserve asset due to economic uncertainties. The most popular way to obtain some Bitcoin is, of course, buying ETFs. Thus you don't need to hold actual crypto, secure the keys, whatsoever. But some companies do like it Saylor's way. Abra, a digital asset platform, reports increasing interest from non-crypto businesses in using Bitcoin as a treasury reserve asset. Marissa Kim, Head of Asset Management at Abra Capital Management, notes particular interest from real estate companies and SMBs. The trend reflects growing concerns about inflation and geopolitical tensions. It suggests a shift in corporate treasury management strategies. More companies may adopt Bitcoin as a hedge against economic instability.

A newly formed association of Paraguayan cryptocurrency miners has issued a stark warning about the future of their industry. The group claims that recent energy tariff increases could lead to the sector's demise. Or simply put, Bitcoin mining in this lovely country will be over. Probably forever. The National Electricity Administration has raised electricity costs for miners by 13% to 16%. This move has sparked concern among industry participants. The Paraguayan Chamber of Digital Asset Mining stated that the price hikes will significantly impact the bitcoin mining industry. They warned that this could potentially lead to the sector's disappearance in Paraguay. The chamber expressed concern about potential revenue losses for the country. They also highlighted risks of job losses and diminished government trust. Miners argue that they face disproportionately high energy costs. "Energy is being sold to [crypto miners] at much higher prices – even up to 50% higher – than for other industries in Paraguay," they said. The mining body, comprising 12 major players, formed in June to advocate for pro-business regulation. They claim that Bitcoin mining currently generates $1.5 billion annually for the Paraguayan economy. The National Electricity Administration (ANDE) has classified some 50 mining firms as part of an "especially intensive consumption sector". The heaviest consumers in this group face monthly price increases of 16%. Tariffs for these firms have risen from USD/KW 55.88 to USD/KW 65.04. ANDE has also been cracking down on illegal crypto mining operations. The mining association argues that the government's approach contradicts its generally pro-business stance. They warn that these actions could negatively impact Paraguay's investment environment. "This situation will only project a negative image of the investment environment in Paraguay," the body stated. They added that it will significantly undermine the legal security necessary for investment, both domestic and overseas.

A long-dormant Bitcoin miner has resurfaced after 14 years of inactivity. The wallet transferred 50 BTC to Binance on June 26th. This sum is valued at approximately $3.05 million. Market intelligence firm Lookonchain reported the transaction. The miner originally acquired these tokens in July 2010. At that time, Bitcoin's price was below $1. Lookonchain shared the details on social media: "A miner wallet woke up after being dormant for 14 years and deposited 50 BTC ($3.05 million) to Binance seven hours ago. The miner earned 50 BTC from mining on July 14, 2010. Address: 1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm" This is not an isolated incident. In May, Lookonchain identified two other long-dormant wallets becoming active. These wallets had been inactive since 2013. The May reactivation involved a combined $61 million worth of Bitcoin. These investors had purchased 500 tokens for $124 each 11 years ago. Their investment yielded gains of nearly 50,000%. Bitcoin's current trading price is $61,630. This represents a slight increase over the past 24 hours. The reemergence of dormant wallets can impact market sentiment. It may signal increased selling pressure. However, it also demonstrates Bitcoin's long-term value proposition. Such events highlight the importance of blockchain analysis. They provide insights into market dynamics and investor behavior. As the cryptocurrency market matures, these patterns may become more significant. The crypto community closely watches these movements. They can potentially influence short-term price action. However, their long-term impact remains to be seen.

Sony Group is set to enter the cryptocurrency market. The electronics giant, famous for its TVs, cameras and some other electronics, has acquired Amber Japan. The crypto exchange it will be relaunched as S.BLOX, a Bitcoin and crypto exchange. Sony purchased Amber Japan in 2023 through its subsidiary Quetta Web. Amber Japan was previously known as DeCurret. S.BLOX will feature an upgraded user interface and mobile app. The launch date remains unannounced. This acquisition reflects Sony's growing interest in cryptocurrency. Which is quite understandable, as Japan is emerging to be a leading Bitcoin market. Proactive regulation and high consumer awareness have contributed to this trend. These factors make Japan an ideal location for Sony's debut in the crypto space. Not to mention, Japan is a home country for the world famous pioneering technology company. Sony's entry signals wider mainstream adoption of cryptocurrencies. Sony has a history of transformative acquisitions. Past purchases of CBS Records and Columbia Pictures expanded its media presence. This latest move could have a similar impact on Bitcoin, though it is unclear if this move will be successful in a long-term perspective. Some of the crypto exchanges have proved to be successful, like Binance or Coinbase, while some ended pretty catosptrophic, like Mt. Gox. Sony is know for leading business in a pretty transparent way, so the latter might be an unsuitable example, you might say. The crypto market has seen increasing interest from major corporations. Sony's involvement further legitimizes the sector. It also highlights the potential for traditional companies to evolve in the digital age. S.BLOX aims to capitalize on Sony's technological expertise. The exchange is expected to offer a user-friendly platform. This could attract both new and experienced crypto investors. Sony's decision comes amid growing institutional interest in cryptocurrencies. The company's size and reputation could influence other large firms to begin their own journeys into the world of crypto.

Recent on-chain data reveals a continued decline in Bitcoin's long-term holder supply. This trend is a bit scary, at least for those who still bet high on the next BTC rally in the near future. Long-term holders (LTHs) are investors who have held Bitcoin for over 155 days. They are typically considered the market's most resilient participants, the ones you can count on mostly when it comes to seeking bullish price support levels. Short-term holders (STHs), in contrast, represent more volatile investors. The LTH supply has been decreasing since January's spot ETF approvals. Data shows the sharpest decline occurred during Bitcoin's rally to new price highs. This suggests even long-term investors were tempted to take profits. Simply put, getting the profit out in fiat was so tempting, thet it clearly over-weighted the potential even bigger incomes in the future. The supply continues to decrease, albeit more slowly, despite recent bearish price action. This ongoing trend is noteworthy. Interestingly, the decline persists beyond the 155-day mark since the spot ETF launch. New buying appears outweighed by selling from established holders. CryptoQuant analyst Axel Adler Jr suggests this could indicate market-wide pessimism. However, historical data provides context. Similar LTH supply reductions occurred mid-cycle in previous bull runs. This pattern doesn't necessarily signal long-term bearish sentiment. "The timing of the selloff would indicate that these profits had ballooned so much during the rally that even these diamond hands gave into the allure of profit-taking," Adler noted.