Crypto Daybook Americas: Bitcoin Eyes New High as MetaPlanet Mania Builds

By James Van Straten (All times ET unless indicated otherwise)
Bitcoin (BTC) bulls still seem to be in control. The largest cryptocurrency posted a record-high daily close on Tuesday, at $106,830, as it extends its strong upward momentum with minimal pullbacks, putting the previous all-time high of just over $109,000 from Jan. 20 well within reach.
This price action has significantly boosted bitcoin-leveraged equities, with Japan’s MetaPlanet (3350) standing out—its stock has surged 160% in 2025 alone. Strategy (MSTR), the poster boy for bitcoin buying, has added 44%.
MetaPlanet has repeatedly hit Japan’s daily limit-up threshold within minutes of market open, effectively freezing upward trading for the day and fueling what resembles a slow-motion short squeeze.
Speculation around MetaPlanet’s aggressive bitcoin accumulation, as indicated by metrics like Days to Cover mNAV, is driving investor frenzy. Still, CEO Simon Gerovich recently posted on X that MetaPlanet is now the most shorted stock in Japan, with 25% of outstanding shares held short.
Meanwhile, macroeconomic conditions add to the complexity.
Japanese bond yields are spiking, with the 30-year yield climbing above 3.1% and the 10-year surpassing 1.5% — the highest since 2008. In the U.K., inflation unexpectedly climbed to a 15-month high, pushing the 10-year gilt yield toward the critical 5% level.
With bitcoin nearing new highs amid rising global yields and persistent inflationary pressures, markets are entering a phase of heightened volatility that demands keen attention. Stay alert!
By Shaurya Malwa and Oliver Knight
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Source: Farside Investors