Bitwise CEO Says Lots Of Bitcoin Demand Is Coming In Q3. Here's Why:

Bitwise CEO Hunter Horsley has hinted at sustained bullish momentum for Bitcoin in the coming months. Horsley said last week on X that “a lot of demand” is coming for Bitcoin in Q3. 

He cited yet-to-be-completed merger and financing deals by impending Bitcoin treasury companies.These firms have been the major drivers of Bitcoin buying pressure and price action this year.

“There’s a lot of Bitcoin Treasury Companies that have announced— but haven’t yet closed, and thus bought the bitcoin,” he said. “There’s a lot of demand coming in Q3.”

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Among companies that have revealed Bitcoin treasury plans but have not closed deals are Twenty One Capital and Strive Asset Management. In April, Twenty One was announced as a new Bitcoin treasury company to be formed through Cantor Fitzgerald's Cantor Equity Partners CEP, a special purpose acquisition company. The new venture is to be partly owned by cryptocurrency exchange Bitfinex, its subsidiary Tether and Japanese investment bank SoftBank. Twenty One said it planned to launch with 42,000 BTC at the completion of its deal. So far, it has received only 37,000 BTC worth $4 billion from Tether.

Strive in May also announced plans to become a publicly traded Bitcoin treasury company by merging with Asset Entities ASST. While the company has yet to close this merger, it later said that it raised $750 million to fund its first round of Bitcoin purchases.

Beyond Twenty One Capital and Strive, Trump Media & Technology Group DJT recently received the Securities and Exchange Commission’s greenlight to kick off its Bitcoin treasury strategy, unlocking $2.3 billion in capital it had raised from 50 institutional investors to buy Bitcoin.

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While new Bitcoin treasury companies work towards making purchases, incumbents are not slowing down. MicroStrategy MSTR on Monday announced the purchase of 10,100 BTC for over $1 billion. Metaplanet also announced the purchase of 1,112 BTC for approximately $117 million, bringing its total stash to 10,000 BTC. 

Fresh All-Time Highs In The Cards?

Bitwise in December predicted that Bitcoin would trade as high as $200,000 in 2025. Last week, Horsley said once Bitcoin trades within the $130,000 to $150,000 price range, no one will sell the asset again. He said borrowing against asset holdings will become the order of the day.

“From there on, when people need liquidity, they are going to borrow from an ever growing set of lenders,” he said. “All of which will further propel price. There’s simply not going to be enough Bitcoin.”

At last look, the asset is trading near $107,400, holding steady despite rising tensions between Iran and Israel in the past few days.

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