Crypto Market Update Today: Metaplanet, Pi Network, DOGE, and More News

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Crypto Market Update Today: Metaplanet, Pi Network, DOGE, and More News
Table Of Contents
  1. Metaplanet Boosts Bitcoin Holdings with New 4 Billion JPY Investment
  2. New Mexico Takes Bold Step with Strategic Bitcoin Investment Bill
  3. Pi Network Prepares for Mainnet Launch Amid Exchange Listings
  4. Elon Musk’s DOGE Panel Tracks Government Spending Cuts
  5. XRP on the Rise as Speculation of US XRP Reserve Grows

Metaplanet Boosts Bitcoin Holdings with New 4 Billion JPY Investment

Metaplanet, a leading Japanese firm often referred to as “Japan’s MicroStrategy,” has raised 4 billion JPY ($27 million) through 0% unsecured bonds. The entire sum will be used to further expand its Bitcoin holdings, with the goal of reaching 21,000 BTC by the end of 2026. This move reinforces Metaplanet’s commitment to Bitcoin as part of its long-term strategy. Additionally, the company’s stock has earned3 a spot in the prestigious MSCI index, bolstering its global presence.

New Mexico Takes Bold Step with Strategic Bitcoin Investment Bill

New Mexico is stepping up its commitment to Bitcoin with the introduction of the Strategic Bitcoin Reserve Act (SB 275) by Senator Anthony Thornton. This bill proposes allocating 5% of the state’s public funds into Bitcoin, tapping into various permanent funds. If approved, New Mexico could join states like Texas, Pennsylvania, and Florida in leading the way for state-level Bitcoin adoption, showcasing Bitcoin’s potential as both a hedge against inflation and a valuable state asset.

Pi Network Prepares for Mainnet Launch Amid Exchange Listings

Pi Network is set to launch its Mainnet Open Network on February 20, 2025, at 8:00 AM UTC. This milestone could significantly impact the Pi Coin economy. Major exchanges including OKX, MEXC, and Bitget have confirmed Pi Coin listings, fueling investor optimism. However, Bybit has declined to list Pi Coin, dampening some expectations. Speculation around Binance continues, with analysts predicting a potential price surge of $500–$1000 if listed. However, if both Bybit and Binance reject Pi, the price may fall to $5–$20 instead.

Elon Musk’s DOGE Panel Tracks Government Spending Cuts

Elon Musk’s Department of Government Efficiency (DOGE) has launched its official website, doge.gov, aimed at tracking federal spending cuts and improving government agency efficiency. Active under President Trump’s administration, the panel’s goal is to reduce $2 trillion from the federal budget over the next 4 months. This initiative has sparked considerable interest nationwide, as Musk continues his efforts to streamline operations and reduce waste in the U.S. government.

XRP on the Rise as Speculation of US XRP Reserve Grows

XRP has seen just strong bullish momentum, breaking out of a key symmetrical triangle pattern. Analyst Ali Martinez forecasts a potential rally to $15 if the positive momentum continues. Meanwhile, EGRAG CRYPTO suggests that short-term price fluctuations are insignificant as long as XRP remains within a critical price channel. A close below $2.30, however, could signal a downturn. Growing speculation around the creation of a US XRP Reserve is adding to the excitement surrounding XRP’s price outlook.

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