“ [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.

Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation.