“ [The Twenty One initiative], together with other so-called Bitcoin treasury companies, is mechanically increasing demand for bitcoin, which is a catalyst for higher bitcoin prices,” said Christophe Roehri, deputy chief executive of digital asset manager TOBAM, which owns $3.9mn of Strategy shares, according to regulatory filings.

Price move gives renewed hope that the digital token can achieve a kind of escape velocity against almost any economic backdrop.

Key Takeaways Bitcoin price today is $108,926.58 with a marginal 0.01% 24-hour gain, showing signs of consolidation.Altcoins rally, led by Ethereum’s price hike