PANews April 29 news, according to The Block, Bitwise Chief Investment Officer Matt Hougan stated that the perpetual preferred stock STRC issued by Strategy is the main driver of Bitcoin's recent rebound, and the upward trend may "last for a while." Hougan pointed out that Bitcoin has rebounded about 20% from its February low to $76,000, ETFs have purchased $3.8 billion since March 1, and long-term holders have also resumed buying, but Strategy is the largest single factor, having increased its holdings by $7.2 billion Bitcoin over the past eight weeks. STRC currently has an annual yield of about 11.5%, and Hougan expects Strategy to raise billions more through STRC to purchase more Bitcoin. Last week, Strategy bought 3,273 Bitcoins for about $255 million, increasing total holdings to 818,300 coins.

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