coin-img-ETHETH+1.83%coin-img-BTCBTC+0.51%coin-img-SOLSOL+0.82%coin-img-XRPXRP+0.24%coin-img-UFOUFO-72.12%coin-img-HOGRUNHOGRUN-6.70%coin-img-USDCUSDC+0.01%coin-img-XAUTXAUT-0.68%coin-img-ETHETH+1.83%coin-img-BTCBTC+0.51%coin-img-SOLSOL+0.82%coin-img-XRPXRP+0.24%coin-img-UFOUFO-72.12%coin-img-HOGRUNHOGRUN-6.70%coin-img-USDCUSDC+0.01%coin-img-XAUTXAUT-0.68%coin-img-ETHETH+1.83%coin-img-BTCBTC+0.51%coin-img-SOLSOL+0.82%coin-img-XRPXRP+0.24%coin-img-UFOUFO-72.12%coin-img-HOGRUNHOGRUN-6.70%coin-img-USDCUSDC+0.01%coin-img-XAUTXAUT-0.68%coin-img-ETHETH+1.83%coin-img-BTCBTC+0.51%coin-img-SOLSOL+0.82%coin-img-XRPXRP+0.24%coin-img-UFOUFO-72.12%coin-img-HOGRUNHOGRUN-6.70%coin-img-USDCUSDC+0.01%coin-img-XAUTXAUT-0.68%

Bitwise CIO Says Strategy's $7.2B Buying Spree Fueled Bitcoin's 20% Surge

Bitwise Chief Investment Officer Matt Hougan said Bitcoin's recent 20% rally has been driven mainly by Michael Saylor's firm, Strategy. Data tracked over the past eight weeks shows Strategy added $7.2 billion worth of Bitcoin. Since March 1, Bitcoin ETFs have bought about $380 million and long-term holders have also returned to net buying, but Hougan said Strategy remains the largest market force. Strategy now holds 818,334 BTC, more than BlackRock's position. Hougan added that the company has financed purchases by issuing perpetual preferred shares, STRC; if Bitcoin keeps climbing, Strategy's holdings could surpass those attributed to Satoshi Nakamoto within two years. Bitcoin is currently trading around $76,486.
Selected
BTC
BTC+0.43%
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.