Bitwise CIO: Recent Bitcoin Surge Driven by Strategy's Accumulation

On April 29, 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. Monitoring data shows that Strategy has accumulated $7.2 billion in Bitcoin over the past eight weeks. Although Bitcoin ETFs have purchased $380 million since March 1 and long-term holders have resumed buying, Strategy remains the largest influencing factor. Currently, Strategy holds a total of 818,334 Bitcoins, surpassing BlackRock’s holdings. Hougan noted that Strategy is raising funds through the issuance of perpetual preferred stock (STRC) to purchase Bitcoin, and if Bitcoin continues to grow, its holdings are expected to exceed Satoshi Nakamoto’s within two years. The current price of Bitcoin is approximately $76,486.

BTC0.96%
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