Bitcoin's price has soared to $88,300, up 4.42%, attributed to significant institutional purchases and a surge in safe-haven asset demand. With Bitcoin's impressive gains outpacing traditional stocks like the Nasdaq since April 2, the market reflects shifting investor sentiment. Key developments include MicroStrategy's $555.8 million purchase of 6,556 BTC, raising its total holdings to 538,200 BTC at an average cost of $67,766. Japanese firm Metaplanet also reported a strategic Bitcoin acquisition, indicating a growing trend of corporate treasury allocations toward Bitcoin amid global economic uncertainties.
One of the day's key developments came from Strategy ($MSTR), formerly known as MicroStrategy, in which Chairman Michael Saylor announced the purchase of 6,556 BTC for approximately $555.8 million at an average price of $84,785 per bitcoin.
As of April 20, 2025, the company holds 538,200 BTC, acquired for roughly $36.47 billion at an average cost of $67,766 per bitcoin.
These moves reflect a broader trend of corporate adoption and treasury allocation toward Bitcoin amid macroeconomic uncertainty and currency debasement concerns.
The surge comes as gold breaks above $3,400 per ounce for the first time, currently trading at $3,431.10, underscoring a broader trend of investors seeking safe-haven assets.
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