While Bitcoin stubbornly refuses to decline, fueled by massive demand from ETF funds, the Japanese firm Metaplanet is planning to use its Bitcoin reserves to create the first digital bank in Japan.

This ambitious project not only highlights the growing legitimacy of cryptocurrency within the traditional financial system but also opens up new frontiers for innovation in the banking sector. Metaplanet, known for its significant Bitcoin investments, sees the digital bank as an opportunity to offer clients more efficient and transparent financial services. The bank is expected to utilize blockchain technology to streamline transactions, reduce fees, and enhance security.

Additionally, a Bitcoin-backed digital bank could attract new investors and entrepreneurs to Japan who are interested in cryptocurrency.

Metaplanet's decision to create a digital bank in Japan is a major step toward integrating cryptocurrencies into the global economy. The success of this project could serve as an example for other countries and companies seeking innovation in the financial sector.

In a recent interview with the Financial Times, CEO Simon Gerovich stated that the company is striving to accumulate as much Bitcoin as possible.

"We think of it as a Bitcoin gold rush," said Gerovich. "We need to accumulate as much Bitcoin as we can in order to meet our objectives and accomplish our mission."

The company, whose shares are listed on the Tokyo Stock Exchange, was originally a hotel business operator. In 2024, it began accumulating Bitcoin as a hedge against inflation. It now holds 15,555 BTC and plans to increase that number to over 210,000 BTC by 2027, which would represent 1% of all Bitcoin that will ever exist.

The second phase of Metaplanet's strategy involves using Bitcoin as collateral to access financing, similar to how securities or government bonds are used. Gerovich said that future acquisitions by Metaplanet would align well with its strategy, making it possible that the company will launch a digital bank in Japan and offer digital banking services that surpass what retail clients currently receive.

While Gerovich ruled out issuing convertible bonds, he remains open to preferred stock offerings to finance growth. On Monday, Metaplanet added another 2,204 BTC to its reserves — a purchase worth $237 million, with each Bitcoin acquired at approximately $107,700. This latest acquisition brings the company's total holdings to 15,555 BTC, at an average purchase price of around $99,985 per coin.

Importantly, Metaplanet's stock has surged over 345% this year, boosting its market capitalization above $7 billion.

Trading tips

Bitcoin

In terms of the technical outlook for Bitcoin, buyers are now targeting a return to the $108,800 level, which would open the way directly to $109,400, and from there, it's a short distance to the $110,000 mark. The furthest upside target stands around $110,800, and breaking above that level would signal a further strengthening of the bull market.

If Bitcoin declines, buyers are expected to appear around $108,200. A move back below this zone could quickly push BTC down to the $107,600 area. The furthest downside target would be $107,000.

Ethereum

As for the technical picture for Ethereum, a clear consolidation above $2,558 opens the path toward $2,590. The furthest bullish target is around $2,621. Breaking above this level would suggest renewed buyer interest.

If Ethereum falls, buyers are expected near $2,528. A drop below this area could quickly send ETH toward $2,498, with the furthest bearish target at $2,460.

What's on the chart

• Red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• Green line shows the 50-day moving average.
• Blue line is the 100-day moving average.
• Lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.