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Strategy shares jump as Bitcoin tops $80,000 ahead of earnings

Bitcoin spot ETFs attracted $827 million in the first two trading days of May, a demand backdrop for Strategy’s Bitcoin proxy rally.

Reported · Written up by our desk · Market Structure

DL News reports that shares of Strategy, the world’s largest corporate Bitcoin holder, climbed more than 50% over the past month as Bitcoin rose above $80,000 ahead of the company’s first-quarter earnings call on Tuesday.

On Monday, Strategy shares jumped about 4% to nearly $184 per share after a 7% gain on Friday, and the article notes that after-hours trading suggested an additional roughly 2% increase into the earnings event.

The move is tied to renewed institutional interest in Bitcoin, with Bitcoin exchange-traded funds pulling in $827 million in the first two trading days of May, extending a two-month winning streak, according to DefiLlama data cited by DL News.

The article also points to crypto derivatives activity, saying over $200 million in short positions were liquidated in a single day, and quoting Nansen’s Jake Kennis that the funding rate remains “healthy,” with derivatives metrics describing a market temperature that has not shown signs of extreme leverage build-up.

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