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Strategy shares jump as Bitcoin trades above $80,000
Bitcoin spot ETFs pulled in $827 million in May’s first two trading days, while Strategy stock neared $184 per share ahead of its Q1 earnings call.
Strategy shares surged more than 50% over the past month as Bitcoin climbed above $80,000, with MSTR rising further on Monday. The stock jumped about 4% to nearly $184 per share, adding to a 7% gain on Friday, and after-hours trading suggested another roughly 2% advance ahead of the firm’s first-quarter earnings call on Tuesday.
DL News reports that the rally is tied to renewed institutional demand, with Bitcoin exchange-traded funds collecting $827 million in the first two trading days of May. DefiLlama data also showed the ETFs extending a two-month winning streak.
The same report said more than $200 million in short positions were liquidated in a single day as the price rise picked up. Strategy is viewed as a leveraged play on Bitcoin, so its stock tends to track the digital asset’s moves.
DL News also cited analysis from Jake Kennis, senior research analyst at Nansen, who said the Bitcoin funding rate is sitting at 0.00045% hourly, which he characterized as not overheated. He added that derivatives activity remains significant around the $80,000 level, citing $2.4 billion in open interest and $3.4 billion in daily perpetual volume.
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