Bitcoin surged to ,100 on Wednesday, driven by positive market sentiment following President Trump’s decision to extend the Iran ceasefire and news of Strategy’s massive .5 billion Bitcoin purchase.

The world’s largest cryptocurrency gained 2.09% over 24 hours, with the CoinDesk 20 index also showing strong performance. Ethereum rose 2.91% to ,391, while Solana climbed 2.72% to .17.

Strategy, formerly known as MicroStrategy, disclosed its largest Bitcoin purchase in 17 months, acquiring 34,164 BTC for approximately .54 billion. The purchase was funded through sales of the company’s perpetual preferred stock, STRC.

“Strategy’s continued accumulation demonstrates institutional confidence in Bitcoin’s long-term prospects,” said a market analyst. The company now holds more Bitcoin than BlackRock’s IBIT ETF, making it the largest corporate holder of the cryptocurrency.

Bitcoin’s “Coinbase premium” has remained positive for 14 consecutive days, the longest bullish streak since BTC hit its all-time high of ,000 in October 2025. This metric suggests strong demand from U.S. institutional investors.

The crypto market has shown resilience despite recent DeFi exploits, including the million Kelp DAO breach. Investors appear to be focusing on macroeconomic developments and institutional adoption rather than short-term security concerns.