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Bitwise CIO Says Strategy Purchases Drove Bitcoin’s 20% Rebound
Bitwise CIO Matt Hougan said Strategy’s $7.2 billion in Bitcoin purchases over the last eight weeks was the biggest driver of Bitcoin’s roughly 20% rebound from its February lows. Hougan said ETF inflows of $3.8 billion since March 1 and fresh accumulation from long-term holders also supported the rally. Hougan said Strategy now holds 818,334 BTC and still has room for another $10 billion–$15 billion in STRC issuance at current Bitcoin prices.