Home›Crypto›Bitcoin›Strategy shares jump 50% in a month as Bitcoin tops $8…

Strategy shares jump 50% in a month as Bitcoin tops $80,000

Bitcoin spot ETFs pulled in $827 million in May’s first two trading days, while Strategy stock extended gains into its Tuesday first-quarter earnings call.

Reported · Written up by our desk · Bitcoin

Strategy’s stock surged more than 50% over the past month as Bitcoin pushed above $80,000, with the move lifting the world’s largest corporate Bitcoin holder. DL News reports that Monday, MSTR rose about 4% to nearly $184 per share, after a 7% rally on Friday.

Traders and investors have largely viewed Strategy as a leveraged proxy for Bitcoin price action, with the stock closely tracking the flagship crypto’s climb. The outlet also noted that after-hours trading indicated the shares were edging up further ahead of the firm’s first-quarter earnings call on Tuesday.

Renewed institutional demand has been a key part of the backdrop, with Bitcoin spot ETFs drawing $827 million in the first two trading days of May, extending a two-month winning streak. DL News cited DefiLlama data for the ETF flow figures and said more than $200 million in short positions were liquidated in a single day as the rally accelerated.

DL News also highlighted market temperature and positioning signals from Nansen analyst Jake Kennis. He said the Bitcoin funding rate sits around 0.00045% hourly, and pointed to $2.4 billion in open interest and daily perpetual volume of $3.4 billion to argue derivatives are playing a significant role near the $80,000 level.

Latest closeBitcoin $81,906.63 ▼1.4%

More like this

Sources