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Bitcoin Tops $97K, Strategy Hits 2025 High Ahead of Earnings Amid Capital Raise Speculation
Both bitcoin and the Nasdaq are above their levels just prior to President Trump's early April tariff announcements.
May 1, 2025, 4:31 p.m.
What to know:
- Bitcoin has surged past $97,000 for the first time since late February.
- Alongside, Michael Saylor's Strategy topped $400 and hit a new year-to-date high.
- Strategy posts first quarter results after the bell tonight, with some suggesting the company could announce a fresh mammoth capital raise.
The panic that ensued following President Trump's Liberation Day tariff announcements continues to fade, with bitcoin and major U.S. stock averages surging anew.
Bitcoin at press time was trading just above $97,000 for the first time in nearly ten weeks, up 3.3% over the past 24 hours and ahead 14% since Liberation Day. With a 2% gain today, the Nasdaq is now higher by about 1% since then. Ahead 1% today, the S&P 500 has returned to its level just prior to that early April event.
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“You know there's a guy out there living a life of zen-like contemplation in a cabin somewhere, refusing to check the news, who assesses his portfolio on a monthly basis and has no reason to believe that anything happened in April,” Mike Bird, Wall Street editor at The Economist, posted on X.
Michael Saylor's Strategy a hot name again
After plunging about 55% from its November record high to as low as $235 in mid-April, Strategy (MSTR) is particularly enjoying the rebound, hitting a new year-to-date high just above $400 minutes ago.
Some are urging caution. "They don't usually ring a bell at the top," wrote Lekker Capital founder Quinn Thompson in response to Bitwise's Jeff Park’s post celebrating MSTR’s longest winning streak since November 2023.
Strategy posts first quarter results after the market close on Thursday and the company notably used up the last of its $21 billion at-the-market common share sale program with its most recent bitcoin purchases last week.
Might the company announce a fresh mammoth equity offering to add even more to its $53 billion bitcoin stack? Executive Chairman Michael Saylor has hinted at maybe something in the works, urging his X followers to tune into the earnings call. Thompson has mulled the same, expecting Saylor to "one up" the company's earlier offerings.
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Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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