As Bitcoin rose 20% since its February low, Bitwise CIO Matt Hogan assessed that Strategy preferred stock STRC played a major driving force. According to The Block, he explained, "Bitcoin's recent surge is the result of several factors, the biggest of which is Strategy. Strategy has purchased an additional $7.2 billion worth of Bitcoin over the past eight weeks. Strategy is expected to raise billions of dollars through STRC for future purchases," adding, "Theoretically, at the current Bitcoin price, Strategy can pay dividends for 42 years. If the price of Bitcoin does not change until 2068, Strategy will fail. However, if Bitcoin rises by 20% annually, Strategy will be able to pay dividends forever."
