Bitcoin Nears All-Time High as Metaplanet Ramps Up Holdings and Arthur Hayes Eyes $1 Million BTC

Key Highlights:

• Metaplanet buys 1,004 BTC for $104.3M, raising total to 7,800 BTC
• Bitcoin trades near $103,000, up amid strong institutional interest
• Arthur Hayes forecasts BTC at $1M by 2028 as U.S. capital controls loom
• Crypto market buoyed by macro liquidity and inflation hedging sentiment

Bitcoin (BTC) held firm just below record levels on Monday, trading at $102,932 after a week of elevated institutional activity and bullish macro commentary. Japanese investment firm Metaplanet once again led the charge, acquiring an additional 1,004 BTC for $104.3 million at an average price of $103,873, according to its May 19 disclosure. With this latest purchase, Metaplanet now holds 7,800 BTC valued at over $808 million, making it the largest corporate Bitcoin holder in Asia and 11th globally.

Metaplanet’s aggressive treasury strategy—mirroring that of U.S.-based MicroStrategy—has seen the firm invest roughly $712.5 million since April 2024, with a targeted goal of reaching 10,000 BTC by the end of 2025. The company has funded its crypto binge through successive bond issuances, including a recent $15 million raise. Metaplanet CEO Simon Gerovich has reiterated the firm’s conviction in Bitcoin as a long-term store of value amid monetary instability.

Supporting that narrative is Arthur Hayes, BitMEX co-founder and current CIO of Maelstrom, who continues to make headlines with his macro predictions. In a blog post and recent Q&A, Hayes warned of an impending wave of U.S. capital controls as a substitute for politically difficult tariffs. He believes the retreat of foreign investment from U.S. markets will trigger aggressive monetary stimulus and debt expansion—fuel for Bitcoin’s next parabolic rally.

Hayes maintains his conviction that Bitcoin will reach $200,000 in the short term and $1 million by 2028, citing U.S. fiscal mismanagement, foreign capital repatriation, and the depreciation of U.S. treasuries as key catalysts. "Bitcoin is the perfect and only lifeboat for global capital," he said, adding that BTC will remain globally accessible so long as the internet persists.

The broader crypto market has reflected this optimism, buoyed by improving risk appetite, liquidity expectations, and the narrative of Bitcoin as digital gold. Hayes, who holds 20% of his portfolio in physical gold and gold mining equities, noted that central banks continue to accumulate gold—a complementary hedge in today’s inflationary and geopolitically uncertain climate.

With volume building and momentum strengthening, all eyes are on whether Bitcoin can breach the psychological $110K level—a potential inflection point for a renewed altcoin cycle, according to Hayes. But even with short-term volatility, the long-term trajectory seems increasingly skewed to the upside.