Key Insights:
Top corporates have bought $3 billion worth of Bitcoin this week.
Michael Saylor's Strategy bought $2 billion worth of Bitcoin yesterday after a $690 million purchase last week, taking its holdings to 522k BTC.
Tether Holdings has bought $735 million worth of Bitcoin taking its holdings to 100k BTC.
Among new buyers, GameStop has the highest ability to buy with $1.3 billion being raised from equity markets.
All of the buying is expected to push BTC price over $90k, a resistance which has been difficult for Bitcoin to cross in 2025.
Last week we saw $690 million worth of Bitcoin purchases, and this week those purchases have come to $3 billion after Strategy and Tether Holdings purchased Bitcoins worth $2 billion and $735 million respectively.
Going ahead, we have another purchase lined up this April from GameStop, which is seeking to raise $1.3 billion through equity markets and also has a free cash flow reserve of $4.5 billion.
Some smaller but new entrants include France's The Blockchain Group and USA's KULR Technologies.
Michael Saylor's Strategy, the largest corporate Bitcoin player with $44 billion in holdings has invested an additional $2 billion to buy 22,048 Bitcoins. The company sits on a net yield of $10 billion despite BTC crashing 25% from its top levels.
Besides being a pioneer of buying BTC via debt-financing, Michael Saylor has actively advocated for a pro-Bitcoin regime during the Biden era in the United States. Pro-crypto promises played a key role in Donald Trump's election victory last year in November.
After being elected as the President, Trump invited Michael Saylor for the first Whitehouse Crypto Summit this month. Going ahead, Saylor's advice could prove critical in deciding the fate of the US Bitcoin policy.
Tether has been buying Bitcoins since the crypto winter and had earlier planned to mine BTC before the 2024 Bitcoin halving. The top stablecoin issuer has recently acquired 8,888 Bitcoins worth $735 million, taking its BTC tally to 100,527.
Tether benefits from its huge Government Treasury, which, besides backing the USDT, generates an additional revenue by the way of interest payments. With US interest rates running as high as 4.5%, Tether has been
GameStop has been in the process of raising $1.3 billion for its Bitcoin purchase. Additionally, the company has been sitting on a cashpile of $4.5 billion.
If deployed, these cash reserves would play a critical role in pushing Bitcoin's demand higher when there is little to no demand in the broader markets, especially among retail buyers.
KULR Technologies has been buying Bitcoins for the last four months and has bought a net of 668 Bitcoins in total. The company is based in California and makes energy solutions for other tech companies.
The French company, The Blockchain Group, has been building its Bitcoin reserves with a $50 million purchase last week. The company has, in total, bought 580 Bitcoins.
Bitcoin has been trying to cross $90k, with the last attempt resulting in a failed breakout till $87k followed by a fall to $82k. Previously, one similar failed breakout till $85k crashed Bitcoin to $76k.
However, given the current institutional buying, we could see Bitcoin cross $90k in April 2025. The demand for Bitcoin is further expected to rise as the US Fed is about to implement its quantitative easing starting today.
Bitcoin USDT 4H Charts
Tradingview
On BTC USDT charts, we see that Bitcoin has a major resistance at $88k to $90k, failing which it might see a fall to $78k. However, rising RSI indicates that its momentum is ripe enough for a recovery rally. We expect Bitcoin would soon cross $100k if its price sustains above $90k levels for at least half a week.
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