Bitwise CIO Reveals the Hidden Force Behind Bitcoin’s 20% Rebound
BeInCrypto
Bitwise CIO Matt Hougan identifies MicroStrategy's massive Bitcoin purchases, funded by STRC shares, as the primary driver behind Bitcoin's recent 20% price rally.Summary
Bitwise CIO Matt Hougan argues that while Bitcoin's recent 20% rally is supported by ETF inflows and long-term accumulation, MicroStrategy’s aggressive Bitcoin acquisition strategy is the "single biggest factor." By issuing STRC shares to fund these purchases, MicroStrategy has significantly outpaced the US spot ETF market. Hougan suggests that with substantial "Bitcoin cushion" remaining, the company has room to continue its buying spree, though some critics warn that the model risks a potential "death spiral."
(Source：BeInCrypto)