On May 7, 2025, Metaplanet Inc. acquired an additional 555 Bitcoins, utilizing $25 million raised through zero-coupon bonds issued to EVO FUND. The entire raised capital was directed towards purchasing Bitcoin, totaling approximately $53.4 million at an average price of $96,134 per coin. This acquisition has resulted in a 136.7% year-to-date BTC yield for the company. With this purchase, Metaplanet now holds 5,555 BTC, acquired for a total of around $481.5 million at an average price of $86,672 per Bitcoin, reflecting solid strategic planning. Contine To Read
Massive Bitcoin withdrawals worth hundreds of millions of USD from major exchanges have sparked significant interest in the crypto community.
However, if Bitcoin fails to break the $86,000 barrier, a price correction remains a real possibility, especially amid wavering investor confidence.
Bitcoin Whales Withdraw Hundreds of Millions in BTC
Data from the X account OnchainDataNerd on April 17, reveals that several large Bitcoin whales executed substantial withdrawals from top exchanges. Galaxy Digital withdrew 554 BTC, valued at approximately $76.74 million, from OKX and Binance.
Abraxas Capital pulled out 1,854 BTC, worth around $157.26 million, from Binance and Kraken.
Two other whales, identified by addresses 1MNqX and 1BERu, withdrew 545.5 BTC ($45.5 million) and 535.2 BTC ($45.44 million) from Coinbase, respectively. In a single day, over $280 million in Bitcoin was removed from exchanges.
Such withdrawals from Bitcoin whales, like those by Galaxy Digital and Abraxas Capital, often signal a strategy to move BTC into cold storage. This is typically viewed as a bullish sign, reducing selling pressure and reflecting expectations of future price increases.
Surge in First-Time Bitcoin Buyers
A report from Glassnode on X highlights a sharp rise in first-time Bitcoin buyers. This influx of new investors could drive short-term price gains. However, long-term holders (LTHs) have paused their accumulation, signaling caution amid heightened market volatility.
First-Time Buyers rose to a 30-day RSI of 97.9. Source: Glassnode
In a post on X, the analyst Ali used the TD Sequential technical indicator to forecast Bitcoin’s price trend. The TD Sequential flashed a buy signal on the Bitcoin weekly chart.
If Bitcoin consistently closes above $86,000, further price increases are likely. Currently, Bitcoin is hovering above $80,000, indicating growth potential. However, surpassing the critical $86,000 resistance level is essential to confirm the bullish trend.
Despite recent whale accumulation, not all signals are positive. Inflows into Bitcoin ETFs have dropped significantly. This decline suggests weakening investor confidence, which could exert downward pressure on prices without fresh catalysts.
Additionally, data from Lookonchain indicates that over $1.26 billion in Bitcoin was unstaked from Babylon. If this capital flows back to exchanges, selling pressure could intensify, making it harder for Bitcoin to breach key resistance levels.
Panama City could be on track to become Central America’s next Bitcoin hotspot after Mayor Mayer Mizrachi teased the creation of a city-level Bitcoin reserve. His cryptic hint came right after a high-profile meeting with El Salvador’s leading crypto strategists.
A Cryptic Clue Sparks Excitement
Mayor Mizrachi posted the words “Bitcoin Reserve” on X shortly after meeting with El Salvador’s Bitcoin policy leaders, Max Keiser and Stacy Herbert. The post, just 11 days ahead of his scheduled speech at Bitcoin 2025 in Las Vegas, has stirred speculation across the crypto community.
While no official details have been disclosed, the timing and tone hint at major developments—perhaps even Panama City mirroring El Salvador’s national Bitcoin reserve, which now holds 6,179 BTC worth nearly $640 million.
Crypto Payments Pave the Way
Panama City is already moving toward crypto adoption. A recently approved measure may soon allow Bitcoin, Ethereum, Tether (USDT), and USDC to be used for public payments—including taxes and municipal fees—pending the implementation of crypto-to-fiat conversion systems.
Although establishing a city-level reserve is possible, a federal-level Bitcoin reserve would require legislation by the National Assembly, which Mizrachi has not yet formally initiated.
As per Max Keiser’s post, they discussed using Panama’s hydroelectric energy for sustainable Bitcoin mining—similar to how El Salvador leverages geothermal power. This could help Panama position itself as a green crypto-mining hub.
In a notable educational initiative, Herbert confirmed that Panama City will adopt El Salvador’s “What is Money?” financial literacy textbook in its online library—marking a deeper collaboration between the two nations.
Conclusion
Mayor Mizrachi appears bullish on the idea of a Bitcoin reserve, but more clarity is expected once he consults with national lawmakers. With El Salvador recently facing IMF tensions over its Bitcoin policy, Panama may tread cautiously.However, with the Bitcoin 2025 Conference just around the corner and Mizrachi set to speak, the crypto world is watching closely
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The post Panama City to Adopt Bitcoin Reserve Like El Salvador— Hints Mayor Mizrachi appeared first on Coinpedia Fintech News
Panama City could be on track to become Central America’s next Bitcoin hotspot after Mayor Mayer Mizrachi teased the creation of a city-level Bitcoin reserve. His cryptic hint came right after a high-profile meeting with El Salvador’s leading crypto strategists. A Cryptic Clue Sparks Excitement Mayor Mizrachi posted the words “Bitcoin Reserve” on X shortly …
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