Crypto market cap hits all-time high and bitcoin is not far behind
Bitcoin is just shy of its July record. Meanwhile, Asia’s largest corporate bitcoin holder reported positive Q2 results.
The overall crypto market cap reached an all-time high of $4.1 trillion this morning, surpassing the market caps of Alphabet, Apple, and Microsoft. Meanwhile, bitcoin is also slowly inching toward a new record, hovering around $122,000 as of 10:00 a.m. ET this morning, just shy of its all-time high of over $123,000 on July 14.
In other bitcoin news, Metaplanet released its second-quarter earnings and announced the launch of “Metaplanet Prefs” to “scale bitcoin treasury operations.” Revenue increased 41% quarter over quarter.
“Our intention is to issue BTC-backed instruments across a broad range of credits and durations, aligning with and adapting to domestic fixed income demand,” according to the earnings report.
The Japanese company is the largest corporate bitcoin holder in Asia, accumulating 18,113 bitcoin since it adopted its bitcoin treasury strategy on April 8, 2024.
It also announced it will build a bitcoin-backed yield curve in the Japanese fixed income capital market.
