Abraxas Capital Buys $250M Bitcoin Amid Global Trade Tensions

A crypto wallet linked to London-based investment firm Abraxas Capital has made significant headlines by purchasing nearly $250 million worth of Bitcoin in the four days leading up to Easter. The firm acquired 2,949 BTC, indicating a renewed institutional confidence in the cryptocurrency amidst global trade tensions and the approaching Easter weekend.

According to blockchain analytics platform Lookonchain, which cited Arkham Intelligence data, Abraxas’ latest purchase included over $45 million in Bitcoin from Binance on April 18 alone. This acquisition follows closely behind MicroStrategy’s announcement that it had bought $285 million worth of Bitcoin at an average price of $82,618 per coin. The move by Michael Saylor’s company further reinforced the bullish stance held by major corporate players.

The broader accumulation trend among institutional investors and crypto whales is continuing. Recent data shows that these large holders are collectively buying up more than three times the amount of new Bitcoin being mined each year. Despite such accumulation, analysts are keeping a close eye on medium-term holders—those who typically hold Bitcoin for three to six months—who have recently released over 170,000 BTC into circulation.

Still, concerns linger. The past two weekends have seen notable disruptions in the crypto markets. On April 13, the price of Mantra (OM) plunged over 90% in a single day, sparking manipulation concerns. A week earlier, Bitcoin had dipped below $75,000 as global investors reacted to a record $5 trillion sell-off in the S&P 500.

Prominent macroeconomist Lyn Alden believes Bitcoin is on track to finish 2025 above its current price of around $85,000. “Before all this tariff kerfuffle, I would have had a higher price target,” Alden said during a recent interview. While she still expects Bitcoin to post gains by year-end, Alden noted that the tariffs introduced in February have tempered her earlier bullish outlook. Alden explained that a major liquidity boost could push Bitcoin toward more ambitious targets. Such a scenario might occur if the U.S. bond market faces a crisis, prompting the Federal Reserve to respond with quantitative easing or yield curve control.

Despite current macro headwinds, Alden believes there is still a “good chance” Bitcoin surpasses the $100,000 mark in 2025. However, she warned that global market volatility remains a key obstacle, especially because Bitcoin trades continuously — unlike traditional equity markets with limited trading hours. “Because it trades 24/7, if people are worried about how things are going to open on Monday, some pools of capital can sell their Bitcoin on a Sunday and prepare,” she said.