Bitcoin Climbs to $97,000 on MicroStrategy Buy and U.S. Inflation Data
Ethereum (ETH) is also posting solid gains, rising 6.3% to $3,376, while altcoins are broadly following the trend.
Quick overview
- Bitcoin reaches its highest level in two months, up 4.8% at $97,699, driven by increased risk appetite.
- MicroStrategy's significant purchase of 13,627 bitcoins for $1.25 billion has bolstered Bitcoin's rally.
- Ethereum and other altcoins are also experiencing gains, with Ethereum rising 6.3% to $3,376.
- Traditional Wall Street indexes are trading lower amid rising global tensions and upcoming judicial decisions.
This marks Bitcoin’s highest level in two months, driven by data that boosted risk appetite.
Cryptocurrency markets are trading higher on Wednesday. Bitcoin (BTC) is up 4.8% at $97,699, its strongest level since November 13 of last year.
Ethereum (ETH) is also posting solid gains, rising 6.3% to $3,376, while altcoins are broadly following the trend: Ripple (XRP) is up 3.4%, BNB gains 2.8%, and Solana (SOL) advances 3.1%.
MicroStrategy fuels Bitcoin’s rally
Bitcoin’s gains were driven primarily by MicroStrategy’s disclosure that it purchased 13,627 bitcoins at an average price of $91,519, for a total investment of $1.25 billion.
The purchase lifts MicroStrategy’s total Bitcoin holdings to 687,410 coins, reinforcing its position as the largest corporate holder of the cryptocurrency. This was the company’s biggest Bitcoin acquisition since July 2025 and was financed through the issuance of common and preferred stock.
In addition, December U.S. inflation came in line with market expectations, showing a monthly increase of 0.3%, a key data point that helped support the world’s largest cryptocurrency by improving the outlook for risk assets.
Traditional markets
Major Wall Street indexes are trading lower on Wednesday amid rising global tensions—now focused on Iran—and as investors await judicial decisions related to Donald Trump’s tariffs.
The S&P 500 is down 1%, while the industrial-heavy Dow Jones slips 0.5%. Meanwhile, the tech-focused Nasdaq 100 is losing 1.4%.
In Asia, stock markets hit record highs on Wednesday, led by Japanese equities, as investors position for the possibility of snap elections in Japan that could pave the way for additional stimulus.
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