Bitwise Chief Investment Officer: Recent Bitcoin surge mainly driven by Strategy's increased holdings
ChainCatcher reports that Bitwise Chief Investment Officer Matt Hougan stated the core driving force behind Bitcoin's recent 20% surge is Michael Saylor's company, Strategy. 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 have resumed buying, Strategy remains the largest influencing factor. As of now, Strategy holds a total of 818,334 Bitcoins, surpassing BlackRock's holdings.
Hougan noted that Strategy is raising funds to purchase Bitcoin by issuing perpetual preferred shares (STRC). If Bitcoin continues to grow, their holdings are expected to exceed Satoshi Nakamoto's within two years. Currently, the price of Bitcoin is around $76,486.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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