Bitcoin rallies to $86,000 as Strategy resumes accumulation and buys back preferred shares, reinforcing its position as a primary proxy for the cryptocurrency market.
Bitcoin price surged above $85,000 driven by corporate accumulation from Strategy and renewed appeal as an alternative asset amid treasury yield concerns.
Strategy shares jumped nearly 9% following a new Bitcoin purchase and a preferred share buyback, reinforcing its role as a Bitcoin proxy.
Bitcoin climbed above $85,000 this week, defying historical seasonal trends as corporate accumulation resumes. Strategy, the world's largest corporate holder, added 950 Bitcoin to its reserves while simultaneously repurchasing $174 million in preferred shares, signaling renewed confidence in the asset's recovery.
Strategy holds approximately 4% of the total Bitcoin supply, meaning its corporate valuation and financial health are directly correlated with the market price of the cryptocurrency.