BitwiseCIO: Bitcoin's recent rise is mainly driven by Strategy's increase in holdings

On April 29, Matt Hougan, chief investment officer of Bitwise, said that the core driving force for Bitcoin's recent 20% rise was Michael Saylor's Strategy company. According to monitoring, Strategy has increased its holdings of Bitcoin by US$7.2 billion in the past eight weeks. Although the Bitcoin ETF has purchased US$380 million since March 1 and long-term holders have resumed buying, Strategy remains the biggest factor. As of now, Strategy holds a total of 818,334 bitcoins, which exceeds BlackRock's holdings. Hougan pointed out that Strategy raised funds to purchase Bitcoin by issuing permanent preferred stock STRC. If Bitcoin continues to grow, its holdings are expected to surpass Satoshi Nakamoto within two years. The current Bitcoin price is approximately US$76,486.