Bitcoin price rises to $88,000 as institutional demand and momentum on gold pull fuel
Bitcoin’s price continued to rise today, up $3,735 (4.42%) at the time of writing to $88,300, appearing to be driven by strong momentum for institutional purchases and replacement asset renewals. The surge comes as gold exceeds $3,400 for the first time and is currently trading at $3,431.10, highlighting a broader trend among investors seeking safe assets.
Bitcoin has also outperformed Nasdaq stocks since April 2, demonstrating the growing differences between traditional stocks and digital assets.
One of the main developments of the day came from Strategy ($MSTR), formerly known as MicroStrategy, Chairman Michael Saylor announced the purchase of 6,556 BTC at an average price of $84,785 per bitcoin for about $555.8 million. As of April 20, 2025, the company held 538,200 BTC, acquired for approximately $36.47 billion, averaged $67,766 per Bitcoin.
The strategy has now purchased 285,980 BTC as it reveals its ambitious 21/21 plan to acquire $42 billion worth of Bitcoin. Over the past six months, the average daily purchase of daily purchases was $154 million, an average of $154 million, which is unmatched by any other publicly listed company.
Meanwhile, Japanese listed company Metaplanet has also reported a new Bitcoin acquisition as part of its ongoing treasury strategy. The company confirmed in a statement:
“Acquiring other bitcoins as part of its ongoing Bitcoin Treasury business. The details of the latest purchase are as follows:
Number of Bitcoins purchased: 330 Bitcoins
Average purchase price: 12,181,570 yen per Bitcoin
Total purchase amount: 4.02 billion yen
Total Bitcoin Holdings: 4,855 Bitcoins
Average purchase price: 12,804,361 yen per Bitcoin
Aggregate amount of purchase: 62.165 billion yen”
These moves reflect a broader trend in corporate adoption and treasury allocations on macroeconomic uncertainty and currency depreciation.
With Bitcoin’s price tight and institutional accumulation continues, market sentiment seems to have reached around $76,000 during the bearish period. Today’s price action (and buying fresh purchases from publicly traded companies) requires that Bitcoin be used as a strategic asset not only continues but also accelerates.
