In the past 24 hours, Bitcoin’s price surged past $93,000, triggering the liquidation of over $285 million in short positions. This sharp upward movement caught many traders off guard, forcing the automatic closure of their leveraged bets against Bitcoin. The current BTC price stands at $93,642, with an intraday high of $93,723 and a low of $88,027. The massive liquidations highlight the risks of shorting in the volatile crypto market, especially as Bitcoin continues to outperform expectations.
Japanese Corporation Metaplanet has announced the appointment of Eric Trump, son of US President Donald Trump, as the inaugural member of its newly established Strategic Board of Advisors.
The announcement made on March 21 highlights Metaplanet’s strategic intent to strengthen its influence within the global Bitcoin economy.
Eric Trump Joins Metaplanet to Strengthen Bitcoin Strategy
According to the official statement, Eric Trump’s appointment aims to leverage his vast experience in real estate, finance, brand development, and strategic business growth. Beyond his business credentials, Eric Trump has positioned himself as a key advocate for digital assets and blockchain innovation.
“His business acumen, love of the Bitcoin community and global hospitality perspective will be invaluable in accelerating Metaplanet’s vision of becoming one of the world’s leading Bitcoin Treasury Companies,” said Metaplanet CEO Simon Gerovich.
Alongside Eric Trump, Metaplanet’s Strategic Board of Advisors will include other renowned industry leaders and financial experts. These individuals will remain committed to advancing the company’s Bitcoin mission and fostering financial innovation in the digital asset sector.
The appointment comes as Metaplanet intensifies its Bitcoin investment strategy. On March 18, the company announced the issuance of 2 billion yen ($13.4 million) in zero-coupon ordinary bonds. The proceeds will be dedicated to acquiring more Bitcoin.
This aligns with Metaplanet’s ambitious roadmap. The company aims to amass 10,000 Bitcoins by the end of this year and 21,000 BTC by the close of 2026.
According to the latest data from Bitcoin Treasuries, Metaplanet currently holds 3,200 BTC, acquired at an average cost of $83,107 per coin. While this has resulted in a modest 1.8% profit, the firm remains vulnerable to Bitcoin price fluctuations.
The company faced potential losses multiple times in March 2025, when Bitcoin’s price fell below its acquisition cost. In fact, last week, Bitcoin dipped as low as $76,555—its lowest price since November 2024—putting downward pressure on Metaplanet’s portfolio. Nonetheless, the market has seen a slight recovery since.
At the time of writing, Bitcoin was trading at $84,414. According to BeInCrypto data, this reflected a 1.54% decline over the past 24 hours. This offers a narrow margin of safety for Metaplanet’s holdings but underlines the ongoing volatility of the cryptocurrency market.
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