Bitcoin Nears $80,000 as Strategy Accumulation Aids Recovery
Bitcoin approached $80,000 for the first time since January, extending a roughly 14% gain since the end of March as a quieter rebound gathered pace on short covering and sustained purchases by Strategy Inc. Investors added about $2 billion to Bitcoin exchange-traded funds over the prior month after net flows turned positive in March for the first time in four months.
Strategy bought $3.9 billion worth of Bitcoin so far in April, its fastest monthly accumulation in a year. Earlier this week, the company added 34,164 Bitcoin for about $2.54 billion, lifting its holdings to 815,061 tokens in its third-largest purchase ever. At the same time, BlackRock is now the fourth-largest holder of crypto, while Bitcoin active addresses have fallen back to levels seen in the 2018 bear market.
From the sources (6 posts)
@businessBitcoin is approaching $80,000 for the first time since January — a stealth recovery built not on euphoria but on short covering and the relentless accumulation by one company: Strategy Inc.
@businessBitcoin is approaching $80,000 for the first time since January — a stealth recovery built not on euphoria but on short covering and the relentless accumulation by one company. Read more: 📷️: Camilo Freedman/Bloombe
@fintechfrankThe tide is turning for bitcoin: - ~$2B in ETF inflows over the past month (flows flipped positive in March for first time in 4 months) - MicroStrategy has bought $3.9B BTC this month, most in a year - BTC quietly +14% since end of March
@bitcoinnews🟠 Saylor's Strategy bought 34,164 #Bitcoin for ~$2.54 billion, earlier this week. The deal brings its total holdings to 815,061 $BTC, Strategy's third-largest purchase ever. 💥
@loppBitcoin active addresses have dropped back to levels seen in the 2018 bear market, though the exchange rate is far higher. I think we're seeing the result of institutions siphoning off significant demand for block space. Bitcoin is "scali
@fintechfrankBlackRock is now the 4th largest holder of crypto 5 years ago this would’ve sounded insane One year from now this list probably looks completely different