Bitwise Chief Investment Officer: The recent rise in Bitcoin is mainly driven by increased holdings from Strategy

Odaily Planet Daily News reports that Bitwise Chief Investment Officer Matt Hougan stated that the recent 20% rise in Bitcoin was primarily driven by Strategy, a company owned by Michael Saylor. According to monitoring, Strategy has increased its Bitcoin holdings by $7.2 billion over the past eight weeks. Although Bitcoin ETFs have purchased $380 million since March 1 and long-term holders are resuming buying, Strategy remains the most influential factor. As of now, Strategy holds a total of 818,334 Bitcoins, surpassing BlackRock’s holdings. Hougan pointed out that Strategy raises funds by issuing perpetual preferred shares STRC to buy Bitcoin, and if Bitcoin continues to grow, its holdings could exceed Satoshi Nakamoto’s within two years. Currently, Bitcoin’s price is approximately $76,486.

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