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Why has $BTC surged so sharply over the past 2 days?

Most of the buying came from #ProCap BTC, which purchased 4,932 BTC worth $514.5M.

On June 23, they announced a $1B merger and had raised more than $750M.
https://x.com/APompliano/status/1937123498624684246

In less than a day, they spent $386.5M to buy 3,724 $BTC at an average price of $103,785, causing $BTC to spike nearly 5%.
https://x.com/APompliano/status/1937519817767936038

Just now, they announced that they bought another 1,208 $BTC($128M) at an average price of $105,977.
https://x.com/APompliano/status/1937861252417544653
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Why has $BTC surged so sharply over the past 2 days?

Most of the buying came from #ProCap BTC, which purchased 4,932 BTC worth $514.5M.

On June 23, they announced a $1B merger and had raised more than $750M.
https://x.com/APompliano/status/1937123498624684246

In less than a day, they spent $386.5M to buy 3,724 $BTC at an average price of $103,785, causing $BTC to spike nearly 5%.
https://x.com/APompliano/status/1937519817767936038

Just now, they announced that they bought another 1,208 $BTC($128M) at an average price of $105,977.
https://x.com/APompliano/status/1937861252417544653

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And while money initially moved into stocks in the morning, capital moved out of safe-haven assets. The price of the 10-year Treasury note fell Friday, sending its yield up to 2% from a March closing low of 1.73%. The next bit isn’t clear, but Durov reportedly claimed that his resignation, dated March 21st, was an April Fools’ prank. TechCrunch implies that it was a matter of principle, but it’s hard to be clear on the wheres, whos and whys. Similarly, on April 17th, the Moscow Times quoted Durov as saying that he quit the company after being pressured to reveal account details about Ukrainians protesting the then-president Viktor Yanukovych. In December 2021, Sebi officials had conducted a search and seizure operation at the premises of certain persons carrying out similar manipulative activities through Telegram channels. But because group chats and the channel features are not end-to-end encrypted, Galperin said user privacy is potentially under threat. Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels.
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