Bitcoin advanced on Wednesday after major corporate holder Strategy Inc revealed a sizable new purchase of the cryptocurrency. However, the rally lost some momentum as indicators showed U.S. retail demand remained subdued.
The world’s largest cryptocurrency climbed 3.4% to $95,001.9 by early morning GMT. Prices briefly touched a near two-month high of $96,033.3 late Tuesday before easing slightly.
Strategy makes largest Bitcoin purchase since July
Bitcoin’s gains were driven primarily by Strategy’s disclosure that it had acquired 13,627 BTC at an average price of $91,519, for a total investment of approximately $1.25 billion. The purchase was announced by Strategy’s executive chairman Michael Saylor.
Following the transaction, Strategy’s total Bitcoin holdings rose to 687,410 coins, further cementing its position as the largest corporate holder of Bitcoin globally. The acquisition marked the company’s biggest Bitcoin buy since July 2025 and was financed through the issuance of common shares and preferred equity.
The move helped ease investor concerns that Strategy had slowed its accumulation strategy, after purchasing relatively small amounts of Bitcoin since mid-December.
Despite the renewed buying, Strategy’s shares have fallen nearly 50% in 2025, pressured by worries over the sustainability of its Bitcoin-focused strategy and the prolonged weakness in crypto prices. Declines in Bitcoin have also fueled speculation that the company could eventually be forced to sell part of its holdings to meet debt obligations.
U.S. retail demand stays soft as Coinbase discount persists
Signs of weak retail participation in the United States continued to weigh on sentiment. Bitcoin’s price on Coinbase Global traded at a noticeable discount to global averages, a widely watched signal of U.S. retail demand.
Coinbase pricing is often used as a proxy for American investor interest due to the platform’s dominant share of the U.S. market. Data from Coinglass showed that Bitcoin has been trading at a discount on Coinbase since mid-December, alongside a gradual decline in average prices.
Altcoins outperform as broader crypto market rallies
Elsewhere in the crypto market, altcoins outperformed Bitcoin on Wednesday, supported in part by broadly in-line U.S. inflation data for December. Core consumer price inflation came in slightly below expectations but matched November’s reading, doing little to alter expectations that the Federal Reserve will keep interest rates unchanged later this month.
Ether gained 6.1% to $3,325.22, paring some intraday strength, while XRP advanced nearly 4%. Solana and BNB posted gains of between 2.5% and 3%, and Cardano jumped 7.3%.
Among memecoins, Dogecoin rose close to 6%, while TRUMP added 5.3% on the day.
