Bitcoin
Bitcoin (BTC) Relief Rally Stalls at $63K as Cryptocurrency’s Price Recovery Faces Hurdles
Digital asset markets rebounded over the weekendwith the broad market reference CoinDesk 20 Index (CD20) up more than 4% since midnight UTC on Friday. Bitcoin has jumped to $63,500 since its Friday drop below $60,000 before faltering and falling below $63,000 in early US trading. July tends to be a positive month for BTC, 10x Research wrote in a Monday update, but any lull in the coming months will likely continue as the third quarter is generally the weakest for digital assets.
Metaplanet bought another $1.2 million worth of BTC as your investment strategy progressed. The Japanese investment advisor has increased its bitcoin holdings to 161 BTC, worth more than $10 million at current prices. The purchase was part of the firm’s bitcoin accumulation plan following last week’s announcement that it planned to acquire $6 million worth of the largest crypto asset, mirroring the steps of US-listed MicroStrategy as a public company that issues bonds to raise funds and acquire bitcoin. The growing popularity of this strategy has led the leading digital asset service provider Abra to introduce treasury service for companies who wish to hold cryptocurrencies on their balance sheets as a reserve asset.
Sony plans to restart Japanese cryptocurrency exchange Whalefin. According to a report from PR Times, Sony will revive the exchange “soon” by launching a new app. The tech giant acquired Whalefin last year from crypto lender and asset manager Amber Group. Previously, Sony has dabbled in Web3 through investments and partnerships, and the launch will mark the PlayStation maker’s proper foray into crypto.