{"id":9329,"date":"2025-08-30T16:08:03","date_gmt":"2025-08-30T16:08:03","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-price-eyes-100k-crash-as-convano-adopts-metaplanet-style-buying-strategy\/"},"modified":"2025-08-30T16:08:08","modified_gmt":"2025-08-30T16:08:08","slug":"bitcoin-price-eyes-100k-crash-as-convano-adopts-metaplanet-style-buying-strategy","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-price-eyes-100k-crash-as-convano-adopts-metaplanet-style-buying-strategy\/","title":{"rendered":"Bitcoin price eyes $100k crash as Convano adopts Metaplanet-style buying strategy"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin continued its downward trend after a major options expiry on Friday. It also plunged as Convano, a sleepy Japanese company, announced a BTC buying strategy.<\/p>\n<div id=\"cn-block-summary-block_a8fd393fa1f82046272d11fbfe767d0b\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin price could crash to $100,000 as the recent momentum wanes.<\/li>\n<li>Convano, a Japanese company, aims to buy coins worth $3 billion.<\/li>\n<li>Bitcoin strategy companies have lost momentum this year.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h2 class=\"wp-block-heading\">Convano to accumulate $3 billion worth of Bitcoin<\/h2>\n<p>The Bitcoin (BTC) price, at last check on Saturday, is down more than 5.4% over the previous seven days, and down 13% from its all-time high this year. The rising uncertainty about the Federal Reserve, rising crypto liquidations, and a multi-billion-dollar options expiry triggered a crash.<\/p>\n<p>Still, despite the current crash, a small Japanese nail salon operator known as Convano has launched a new Bitcoin buying strategy. It is now rising about $3 billion, which it will use to acquire 21,000 Bitcoin. Its planned capital raise is much higher than its market capitalization of $386 million.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Convano hopes to become a successful story like Strategy and Metaplanet. Strategy, formerly known as MicroStrategy, has seen its market capitalization jump from approximately $1 billion in 2020 to $90 billion, primarily driven by its Bitcoin buying strategy.\u00a0<\/p>\n<p>Similarly, Metaplanet has moved from being a hotel owner to a $2 billion company, helped by its 18,991 Bitcoin purchases.\u00a0<\/p>\n<p>The risk for Convano is that Bitcoin treasury companies are not doing well. Strategy stock has plunged by over 25% from its 2024 high, while Metaplanet has crashed by over 50% from the year-to-date high.\u00a0<\/p>\n<p>Other top companies that have adopted this strategy, such as GameStop, MicroCloud Hologram, and Trump Media, have also slumped. According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/bitcointreasuries.net\/\" target=\"_blank\">BitcoinTreasuries<\/a>, there are now over 100 companies holding over 989,926 coins.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin technical analysis<\/h2>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">BTC price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily timeframe chart shows that the BTC price has crashed after peaking at a record high of $124,200 earlier this month. BTC has moved below the 100-day and 50-day Exponential Moving Averages, while the Average Directional Index rose to 19, indicating that the downtrend is strengthening.\u00a0<\/p>\n<p>It has also formed a double-top pattern and moved below the neckline at $111,834. This pattern has a height of about 9.3%.\u00a0Measuring the same distance from the neckline means that it may crash to $100,000 in the coming days.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin continued its downward trend after a major options expiry on Friday. It also plunged as Convano, a sleepy Japanese company, announced a BTC buying strategy. Summary Bitcoin price could&hellip;<\/p>\n","protected":false},"author":1,"featured_media":8755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=9329"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9329\/revisions"}],"predecessor-version":[{"id":9330,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9329\/revisions\/9330"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/8755"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=9329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=9329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=9329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}