Bitwise CIO: Bitcoin's recent rise is mainly driven by increased holdings from Strategy

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Golden Finance reports that on April 29th, Bitwise Chief Investment Officer Matt Hougan stated that the core driver behind Bitcoin’s recent 20% increase is 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 1st and long-term holders have resumed buying, Strategy remains the biggest influencing factor. As of now, Strategy holds a total of 818,334 Bitcoins, surpassing BlackRock’s holdings.
Hougan pointed out that Strategy raises funds to buy Bitcoin by issuing perpetual preferred shares STRC. If Bitcoin continues to grow, its holdings could exceed Satoshi Nakamoto’s in two years. Currently, the Bitcoin price is approximately $76,486.

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