Bitcoin climbed to nearly $77,500 as traders reacted to President Trump’s decision to extend the Iran ceasefire and Strategy’s purchase of 34,164 bitcoins worth $2.54 billion, its largest purchase since 2024.
The new acquisition increases the strategy’s stake to 815,061 Bitcoin, turning the position into a modest gain and coincides with weekly inflows of $1.4 billion into global crypto funds led by Bitcoin and Ether.
Analysts say Bitcoin’s move above key short-term holder levels and growing institutional acceptance, including from Japanese investors, reduce near-term liquidation risks, although a sustained rally may depend on a clearance to $80,000 and geopolitical developments in the Strait of Hormuz.
The gold coin traded at $77,541 on Wednesday morning, up 2.2% in 24 hours and 4.3% on the week, after Trump pushed for the Iran ceasefire and Strategy unveiled its largest BTC purchase in 17 months.
The cryptocurrency rose above $78,000 on Wednesday morning, up 2.2% in 24 hours and 4.3% on the week, after President Donald Trump said he would extend the Iran ceasefire indefinitely and Strategy unveiled the purchase of 34,164 BTC for $2.54 billion.
Additionally, the strategy’s purchase is the largest Bitcoin purchase by the company since November 2024. The 34,164 BTC acquisition at an average of $74,395 per coin brings the firm’s holdings to 815,061 BTC, purchased for $61.6 billion based on an average cost of $75,527.
With Bitcoin at $77,541, the position is now in modest profit for the first time in months.
