Weekly Wire | Bitcoin Surges Past $87K Amid Dollar Decline

The crypto market is experiencing renewed momentum, with Bitcoin (BTC) surpassing $87,000, driven by significant institutional investments and concerns over the U.S. dollar’s stability.  

 Institutional Buying Intensifies 

Strategy, led by Michael Saylor, has expanded its Bitcoin holdings by purchasing an additional 6,556 BTC for $555.8 million. This acquisition increases their total holdings to 538,200 BTC, acquired at an average price of $67,766 per coin.  

Similarly, Japanese investment firm Metaplanet has also ramped up its Bitcoin holdings, acquiring 330 BTC for $28.2 million. This latest buy pushes its total stash to 4,855 BTC, now valued at over $400 million. The company has publicly set a target of holding 21,000 BTC by 2026. 

Dollar Weakness Boosts Bitcoin's Appeal 

Concerns about the Federal Reserve's independence are putting pressure on the U.S. dollar. Comments from National Economic Council Director Kevin Hassett—suggesting former President Trump may seek to remove Fed Chair Jerome Powell—have sparked uncertainty, accelerating the dollar’s decline. 

Hedge funds have been offloading the greenback in favor of major currencies like the euro, yen, and Australian dollar, pushing the U.S. Dollar Index (DXY) down to 98.5—its lowest level since April 2022. Over the past three months, the DXY has dropped 10%, signaling broad market unease around U.S. monetary stability (CoinDesk). 

In parallel, gold surged to a new all-time high of $3,382 per ounce, now up 28% year-to-date. Futures tied to the S&P 500 and Nasdaq slipped slightly, reflecting broader market caution. 

Altcoins Ride the Wave 

Bitcoin’s strength is lifting other digital assets as well. BNB, Solana (SOL), XRP, and Cardano (ADA) all posted gains, with SOL climbing over 5% on the week. Market analysts point to Bitcoin’s growing “digital gold” narrative and weakening fiat confidence as factors driving renewed capital flows into crypto (CoinDesk). 

Looking Ahead 

The combination of institutional investment and macroeconomic factors suggests a bullish outlook for Bitcoin. As companies like Strategy and Metaplanet continue to accumulate BTC, and with the dollar facing challenges, Bitcoin's position as a store of value appears to be strengthening. 

Financial Advice Disclaimer: Nothing in this article constitutes professional or financial advice, performance data or any recommendation that any specific cryptocurrency, portfolio, index, investment product, transaction or investment strategy is suitable for any specific person. You assume the sole responsibility of evaluating the merits and risks associated with all financial decisions and should seek the advice of a registered financial advisor when in doubt.