Crypto Update: Bitcoin Aims for New Milestones as MetaPlanet Gains Momentum
Your day-ahead summary for May 21, 2025
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Bitcoin (BTC) bulls are still maintaining strong control. The largest cryptocurrency recently achieved a record-high daily close of $106,830 on Tuesday, reinforcing its upward trend with minimal pullbacks. This surge puts its previous all-time high of just over $109,000 from January 20 well within reach.
The rise in Bitcoin’s value has significantly impacted bitcoin-linked equities, notably Japan’s MetaPlanet (3350), whose stock has rallied by an impressive 160% in 2025 alone. This stock has consistently reached Japan’s daily limit-up barrier shortly after the market opens, effectively pausing further upward trading.
Speculations surrounding MetaPlanet’s aggressive Bitcoin procurement, highlighted by metrics such as Days to Cover mNAV, are igniting investor excitement. However, CEO Simon Gerovich disclosed that MetaPlanet is currently Japan’s most shorted stock, with 25% of its outstanding shares held short.
In the context of broader economic factors, Japanese bond yields are soaring. The 30-year yield has surpassed 3.1%, and the 10-year yield has exceeded 1.5%, levels not seen since 2008. Additionally, inflation rates in the U.K. have unexpectedly risen to a 15-month high, pushing the 10-year gilt yield closer to the critical 5% mark.
As Bitcoin approaches new highs amidst escalating global yields and ongoing inflation pressures, the markets seem to be entering a phase of captured volatility that requires careful observation. Stay vigilant!
What to Watch
Crypto Events
- May 22: Bitcoin Pizza Day.
- May 22: Top 220 TRUMP token holders will attend a gala dinner hosted by President Trump at Trump National Golf Club in Washington.
- May 30: The second round of FTX repayments begins.
Macroeconomic Updates
- Day 2 of 3: Canadian Finance Minister François-Philippe Champagne and Bank of Canada Governor Tiff Macklem will co-host a three-day G7 meeting in Banff, Alberta.
- May 21, 8 a.m.: Mexico’s National Institute of Statistics and Geography will release retail sales data with expectations of 0.1% month-over-month and 2.2% year-over-year changes.
Stay tuned as the crypto landscape evolves rapidly.
