What is the reason for the rise of ‪#BTC‬

On March 24, the price of Bitcoin exceeded $88,000 within hours of MicroStrategy announcing the purchase of Bitcoin worth $584 million.

MicroStrategy, which was recently renamed to "Stratigi," announced that it purchased 6,911 Bitcoin between March 17 and 23 for approximately $584.1 million in cash.

MicroStrategy, led by co-founder and CEO Michael Saylor, has continued its intensive acquisition of Bitcoin since 2020. It is the largest Bitcoin-holding company, owning 506,137 Bitcoin.