Bitcoin Rally Driven by Strategy’s Major Purchases
- Strategy has added $7.2 billion in Bitcoin over the past eight weeks.
- The company’s total holdings now stand at 818,334 BTC after buying 3,273 Bitcoin for $255 million between April 20 and April 26.
- Bitcoin’s price has increased by approximately 21% since February, trading around $76,486 as of Wednesday.
- Strategy’s purchases have surpassed those of BlackRock, which holds about 812,300 coins.
- The issuance of Strategy’s perpetual preferred stock (STRC) is expected to fund further Bitcoin acquisitions.
The significant buying activity from Strategy is a key driver behind the recent surge in Bitcoin prices, alongside strong ETF demand and long-term holder purchases. With STRC providing an attractive yield, further investments are anticipated.
If current trends continue, Strategy could soon surpass Satoshi Nakamoto’s holdings with an additional purchase of just under278,000 coins needed to match Nakamoto’s estimated total of over one billion Bitcoin.
