Bitcoin Holds Steady at $111,105 as Elon Musk Backs It in Political Strategy

Bitcoin (BTC) is currently holding a stable price around $111,105, driven by renewed optimism following strong public support from Elon Musk, head of the newly formed America Party. In a post on social media platform X, Musk called fiat currency “hopeless” and stated that Bitcoin would become a financial cornerstone of his party’s strategy for the 2026 midterm elections.

While some critics dismissed the move as a “media stunt,” the fact remains that Musk’s companies, SpaceX and Tesla, currently hold nearly 19,800 BTC, valued at over $2.1 billion. This endorsement further strengthens Bitcoin’s position as a hedge against inflation and centralized fiscal policy risks. Although Musk’s remarks only led to a modest price bump to $107,838, overall sentiment in the crypto market has shifted notably in a positive direction.

Musk’s Statement Signals Potential Crypto Policy Shift in the U.S.

Observers suggest that Elon Musk’s statement could significantly influence the regulatory framework for cryptocurrencies in the U.S. in the near future — a sign that digital assets may soon be integrated into national financial and political strategies.

Japan’s Metaplanet Buys $237 Million in BTC – Surpasses Tesla

This past week, Metaplanet, a Japanese investment firm, purchased 2,204 BTC worth $237 million, making it the fifth-largest corporate holder of Bitcoin globally, with a total of 15,555 BTC. This move notably puts it ahead of Tesla and CleanSpark in the global corporate Bitcoin accumulation race.

Average purchase price: $107,700 per BTC

Total BTC held: 15,555 BTC

BTC accumulated since early 2025: Over 3,400 BTC

This move comes amid a powerful surge in institutional investment into Bitcoin. Major players such as Strategy and ProCap have ramped up their BTC accumulation, while smaller firms are also joining the wave.

In France, Blockchain Group recently acquired an additional 116 BTC, bringing its total holdings to 1,904 BTC. Meanwhile, UK-based Smarter Web Company added 226 BTC, increasing its total to 1,000 BTC, following a remarkable 26,242% return since the beginning of the year.

Although some analysts fear that the most profitable phase of the Bitcoin Treasury strategy may have peaked, Metaplanet’s aggressive buying serves as clear evidence that institutional confidence remains strong. These strategic accumulation moves are helping to stabilize Bitcoin’s price amid macroeconomic volatility, while also reinforcing long-term bullish expectations for the cryptocurrency.