Analysts note a brewing feud between Bitcoin maximalists and XRP supporters after known Bitcoin advocates spread negative narratives against Ripple’s virtual token.

An executive at Ripple explained why the so-called Bitcoin maxis are trying to rip down XRP, saying that advocates of the firstborn crypto are not in favor of a “level playing field” for cryptocurrencies.

What The Maxis Fear

Many members of the XRP might be perplexed by the negative narratives that Bitcoin maxis are spreading. However, Ripple CTO David Schwartz does not find it surprising, offering the reason behind the vocal opposition that BTC advocates are throwing at XRP.

Schwartz said that the Bitcoin purists are attacking XRP because they do not want to promote an equal opportunity for cryptocurrencies, emphasizing that they are against fair competition.

“We starting pushing for a level playing field where the government doesn’t play favorites. That was always what the maxis most feared,” the crypto executive explained in an X post.

We starting pushing for a level playing field where the government doesn’t play favorites. That was always what the maixs most feared.

— David “JoelKatz” Schwartz (@JoelKatz) January 25, 2025

Ripple has been advocating for the US government to adopt a national cryptocurrency reserve that does not focus only on Bitcoin. The crypto firm urged the US government to include other digital assets in the proposed reserve rather than being Bitcoin-centric.

Total crypto market cap at $3.4 trillion on the daily chart: TradingView.com

Is XRP A Scam?

Several known Bitcoin advocates are spreading negative narratives against XRP, aiming to devalue the crypto asset because Bitcoin maxis perceive that XRP is a threat to the flagship crypto.

Among those berating XRP are prominent Bitcoin advocate Rajat Soni and Bitcoin supporter Robert Breedlove who labeled XRP as a scam, claiming that the crypto only tricked its investors.

“XRP is a psychological operation designed to trick retail investors into giving away their money by leveraging a bot army to exploit retail investor ignorance of centralization vs decentralization, the nature of money, and counterparty risk. Don’t fall for the scam,” Breedlove said in an X post.

#XRP is a psychological operation designed to trick retail investors into giving away their money by leveraging a bot army to exploit retail investor ignorance of centralization vs decentralization, the nature of money, and counterparty risk. Don’t fall for the scam.

— Robert Breedlove (@Breedlove) January 26, 2025

In his post, Breedlove even dissuaded a fellow crypto investor from getting XRP, saying, “It’s a bad idea to hold your savings in scam tokens.”

XRP is a scam.

Banks will never use XRP.

They will use some form of USD backed by Bitcoin, or just straight up Bitcoin.

Let me explain:

— Rajat Soni, CFA (@rajatsonifnance) January 17, 2025

A Threat To Bitcoin Reserve?

Another Bitcoin advocate, Pierre Rochard, who is affiliated with the Bitcoin mining firm Riot Platforms, believes that XRP could threaten the creation of the American strategic Bitcoin reserve, a point of view agreed upon by Kraken’s Bitcoin historian, Pete Rizzo.

Ripple has been pushing to incorporate other digital assets, not only Bitcoin, in the proposed crypto reserve. Ripple CEO Brad Garlinghouse explained that from a diversification standpoint, a reserve that includes Bitcoin and other crypto assets makes sense — a proposal that does not sit well with the purists.

In a post, Rizzo accused the Ripple CEO of discouraging US President Donald Trump from buying Bitcoin.

However, Garlinghouse downplayed the attacks, saying that Ripple’s advocacy aims at establishing a strategic cryptocurrency reserve that is inclusive of all cryptocurrencies rather than focusing on a single crypto.

Featured image from VOI, chart from TradingView

The Bitcoin landscape is undergoing dramatic changes. Lately, a big number of “new” whales – wallets holding 1,000 or more BTC – has caught the attention of investors and analysts.

These new players, defined as entities accumulating Bitcoin over the past 155 days, are injecting fresh energy into the market.

But why is this surge so significant, and what does it mean for Bitcoin’s future?

A Growing Wave Of New Bitcoin Whales

An increase in new Bitcoin whales may reflect a higher degree of confidence in the cryptocurrency. On-chain data by crypto analytics platform CryptoQuant shows that the fresh investors currently make up a significant portion of Bitcoin holdings.

Such wallets are often associated with institutional buyers or high-net-worth individuals who make strategic moves.

The graph below currently indicates a sharp rise in the proportion of new whales. When the price of Bitcoin hit $55,000, they entered an active growth period, according to CryptoQuant.

Their portion of the large players’ total realized capitalization has now grown by 43% to 60%. This demonstrates their aggressive market debut during a period of optimism.

Source: CryptoQuant

This cycle of accumulation reveals more than a mere individual bull market. It is a manifestation of a shift in the greater perception of Bitcoin, not as a speculative product but as a medium to long-term store of value.

As traditional finance institutions and private entities embrace Bitcoin, the entry of new whales underpins broader market adoption.

Why It Could Be Bullish For Bitcoin

Historically, the emergence of new Bitcoin whales has been synchronized with bullish trends in the market. These investors tend to hold Bitcoin during price consolidation periods and potentially set up a massive upward price movement.

Their growing presence often results in reduced Bitcoin supply in circulation that can trigger supply-demand imbalance.

BTCUSD trading at $102,852 on the daily chart: TradingView.com

This development might even indicate a maturing market. Instead of short-term retail traders, Bitcoin is attracting the attention of entities capable of holding assets long-term. This will be a stabilizing factor that can suppress volatility while at the same time enhance trust in the ecosystem.

Market Sentiment

Market sentiment has played a major role in this recent development. Analysts say that Bitcoin’s ability to withstand macroeconomic turmoil has solidified its appeal. When fears of inflation remain and the traditional markets are weak, new investors consider Bitcoin as an antidote for uncertainty.

Image: Geoffroy Van Der Hasselt/AFP via Getty Images

Platforms like Glassnode have also highlighted the implications of increased whale activity. According to their data, these wallets are pivotal in accumulating Bitcoin when prices dip, creating strong support levels. This proactively supports the current price range and provides a setup for potential bullish breakouts.

Looking Ahead To 2025

The emergence of new Bitcoin whales might be the first sign of a bullish 2025. With the entry of more high-net-worth individuals and institutions into the market, the narrative around Bitcoin continues to change. From a speculative asset to becoming a store of value, this journey is marked by milestones such as these.

At the time of writing, Bitcoin was trading at $102,962, up 3.6% and 0.8% in the daily and weekly charts.

Featured image from DALL-E, chart from TradingView

Japanese firm Metaplanet has announced a capital raise of $745 million, marking the largest Bitcoin-focused equity funding in Asian stock market history.

The firm issued 21 million shares through 0% discount moving strike warrants, generating 116 billion yen.

The issued stock acquisition rights were priced at 363 yen per unit ($2.33), including adjustable exercise prices based on market value. This novel financial structure ensures flexibility for investors while aligning with Metaplanet’s commitment to long-term Bitcoin accumulation.

The company’s shares have performed strongly, closing 3% higher on the day of the announcement and gaining 16% year-to-date.

 “Metaplanet will issue 21 million stock options with a 0% discount rate, raising approximately 116 billion yen to purchase additional Bitcoin. This will be the largest Bitcoin purchase fund in the history of Asian stock markets,” the firm shared on X (Twitter).

Metaplanet’s strategy is to leverage substantial capital to become a dominant player in the cryptocurrency market. As BeInCrypto reported, the company has set its sights on acquiring 10,000 Bitcoin by the end of 2025, significantly expanding its treasury holdings. The latest initiative reflects Metaplanet’s ambitious “Bitcoin-first, Bitcoin-only” strategy.

The aim is to strengthen its cryptocurrency holdings amidst Japan’s unstable yen and Bitcoin’s (BTC) surging value. On the Japanese yen front, this is not the first time Metaplanet has turned to Bitcoin amid local currency jitters.

Seven months ago, the firm, alongside others like Sony, resorted to a strategic pivot toward Bitcoin amid growing concerns over the yen’s devaluation. etaplanet then raised $6.2 million through a bond issuance to expand its Bitcoin holdings.

The $745 million raise represents a continuation of Metaplanet’s commitment to its Bitcoin-focused vision. It comes after an announcement earlier this month about plans to raise $62 million through another funding round for Bitcoin purchases. This demonstrates its consistent approach to treasury growth.

Data on Bitcoin treasuries indicates that Metaplanet is the fifteenth-largest publicly traded Bitcoin holder, with 1,762 BTC already in its reserves.

Metaplanet’s latest capital injection comes at a time when the yen faces continued devaluation pressures. BeInCrypto reported that the Bank of Japan (BOJ) recently announced a historic 25 basis point (bp) interest rate hike. This meant raising its benchmark lending rate to 0.5%, the highest since 2008.

Analysts view this as a forward-thinking move, given Bitcoin’s potential as a store of value and increasing institutional adoption.

“…it [Metaplanet] aims to strengthen its position as a global leader in corporate Bitcoin holdings,” a popular X user noted.

The strategy also mirrors the playbook of US-based MicroStrategy, which is a pioneer in leveraging corporate balance sheets to acquire Bitcoin. By adopting a similar approach, Metaplanet aims to position itself as a leader in the cryptocurrency market while enhancing shareholder value. MicroStrategy founder and executive chair Michael Saylor also remarked about Metaplanet’s move.

Investor sentiment toward Metaplanet has been favorable, as evidenced by the company’s rising stock price and strong year-to-date performance. Nevertheless, while the announcement of the $745 million raise has further bolstered confidence, the BTC price reaction was rather muted.

BeInCrypto data shows BTC was trading at $102,797 as of this writing. This represents a 3.77% surge since the Tuesday session opened.