Dex-Trade News Digest: Trump's Pro-Crypto VP Pick and Metaplanet's Bitcoin Accumulation
Trump Selects Bitcoin-Owning Ohio Sen. JD Vance as Vice Presidential Candidate
Donald Trump, the presumptive GOP nominee, has announced Ohio Senator JD Vance as his Vice Presidential candidate. This choice emphasizes Trump's pro-crypto stance, aligning with his campaign strategy. Vance, a known supporter of cryptocurrency, holds between $100,001 and $250,000 worth of Bitcoin, according to his federal financial disclosure.
Vance's Crypto Advocacy
Vance has been a vocal advocate for crypto, having introduced and supported pro-crypto legislation. He recently drafted a bill aimed at revamping U.S. digital asset regulation and has criticized SEC Chair Gary Gensler's regulatory crackdown on the crypto industry.
Industry Reactions
Crypto advocates have welcomed Trump's decision. Nic Carter, founder of Castle Island Ventures, praised Vance's pro-crypto stance. Similarly, Sam Lyman from Riot Platforms highlighted that a Trump-Vance administration could counter anti-crypto sentiments, such as those from Senator Elizabeth Warren.
Upcoming Bitcoin Conference
Trump is scheduled to speak at the Bitcoin Conference in Nashville, Tennessee, from July 25 to July 27. This comes after he survived an assassination attempt during a Pennsylvania rally on July 13.
Japan’s MicroStrategy Imitator Metaplanet Buys Additional 21.88 Bitcoin
Japanese company Metaplanet, often called 'Asia’s MicroStrategy,' has purchased an additional 21.88 Bitcoins, valued at ¥200 million ($1.4 million). This purchase brings its total Bitcoin holdings to 225.611 BTC, worth $14.57 million.
Strategic Bitcoin Accumulation
Metaplanet has been steadily acquiring Bitcoin since April, viewing it as a strategic reserve asset to hedge against the weakening Japanese yen. The company's recent acquisitions include 42.466 Bitcoins on July 8, worth ¥400 million ($2.5 million).
Market Performance
Metaplanet's Bitcoin strategy has significantly boosted its stock performance, with shares rising 158% in May after adding Bitcoin to its portfolio. The company aims to continue increasing its BTC reserves, mirroring the approach of MicroStrategy, the largest corporate Bitcoin holder.
Future Plans
Metaplanet plans to tokenize its shares on the Bitcoin layer-2 network Liquid, potentially increasing accessibility for international investors. This move aligns with its strategy to navigate Japan's challenging economic landscape and set a precedent for corporate innovation in asset management.
