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Strategy shares surge as Bitcoin stays above $80,000
Bitcoin spot ETFs pulled in $827 million in the first two trading days of May, helping lift MicroStrategy, which rose again Monday and headed into its Q1 earnings call.
DL News reported that shares of Strategy, the world’s largest corporate Bitcoin holder, surged more than 50% over the past month as Bitcoin climbed above $80,000. The stock jumped about 4% on Monday to nearly $184 per share, following a 7% gain on Friday, with after-hours trading indicating an additional roughly 2% advance before its first-quarter earnings call on Tuesday.
The rally is tied to renewed institutional demand for crypto exposure, with Bitcoin spot exchange traded funds drawing $827 million in the first two trading days of May alone, extending a two-month winning streak, according to DefiLlama data cited by DL News. The outlet also said more than $200 million in short positions were liquidated in a single day as the climb accelerated.
DL News added that funding conditions around Bitcoin have remained stable, with Jake Kennis, a senior research analyst at Nansen, pointing to a funding rate of 0.00045% hourly, well below levels that typically precede sharp corrections. Kennis said derivatives activity is still meaningful, noting $2.4 billion in open interest and daily perpetual volume of $3.4 billion, while calling the buy and sell balance moderate.
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