As Bitcoin has risen 20% since its February low, Bitwise CIO Matt Hougan assessed that Strategy preferred stock STRC played a key driving force. According to The Block, he said, "Bitcoin's recent surge is the result of several factors, the biggest of which is Strategy. Strategy has additionally purchased $7.2 billion worth of Bitcoin over the past eight weeks. It is expected that Strategy will raise billions of dollars through STRC for further purchases," adding, "Theoretically, at the current Bitcoin price, Strategy can pay dividends for 42 years. If Bitcoin's price remains unchanged until 2068, Strategy will fail. However, if Bitcoin rises by 20% annually, Strategy will be able to pay dividends forever."
