Bitcoin's price surged past $95,000 on Wednesday following Strategy's acquisition of $1.3 billion in Bitcoin, marking its largest purchase since July. This move increased Strategy's Bitcoin holdings to $66 billion, with an average purchase price of $75,000, resulting in approximately $14 billion in unrealized profit. The acquisition was funded by selling over $1 billion in new company shares on the open market.
The purchase coincided with significant inflows into spot Bitcoin ETFs, which saw $754 million in a single day, the highest since October. BlackRock's IBIT product led these inflows with $127 million. Despite recent market volatility affecting digital asset treasuries, Strategy's executive chairman, Michael Saylor, remains optimistic about Bitcoin's future. The firm has also prepared a $1.4 billion cash reserve to mitigate market fluctuations, with expectations of increased Bitcoin adoption by national treasuries by 2026.
Strategy Acquires $1.3B in Bitcoin, Boosting Price Above $95,000
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