Bitcoin Surges Above $97K, Strategy Hits 2025 High with Earnings on the Horizon and Capital Raise Speculation Looming

Bitcoin Surges Past $97K, Nasdaq Recovers as Tariff Worries Ease

Amid a broader market recovery, Bitcoin has broken through the $97,000 mark, reaching its highest price in over two months. The surge comes as investor concerns surrounding President Trump’s tariff measures, announced in early April, begin to subside.

Bitcoin is up by 3.3% in the past 24 hours and has gained 14% since the tariff news broke. U.S. stock markets are also seeing gains, with the Nasdaq climbing by 2% today and the S&P 500 rising 1%, returning to pre-tariff announcement levels.

Mike Bird, Wall Street editor for The Economist, shared a lighthearted observation on social media, noting, “There’s someone out there living in complete peace, far from the news, looking at their portfolio once a month—no idea what happened in April.”

Strategy (MSTR) Sees Significant Recovery

The rebound is also seen in Michael Saylor’s Strategy (MSTR), which had fallen sharply by 55% from its November highs, dipping to as low as $235 in mid-April. However, the company has now bounced back, recently hitting a new year-to-date high above $400.

Still, analysts urge caution. “They don’t usually ring a bell at the top,” said Quinn Thompson, founder of Lekker Capital, referencing Bitwise’s Jeff Park’s celebration of MSTR’s longest winning streak since November 2023.

Strategy will report its first-quarter earnings on Thursday, and speculation is mounting about the company’s next moves. Having completed a $21 billion at-the-market share sale, Strategy is widely expected to announce more Bitcoin purchases, potentially with another large equity offering.

Michael Saylor, Strategy’s Executive Chairman, has fueled speculation, encouraging his followers on X to pay attention to the upcoming earnings call. Some analysts, like Thompson, suggest that Saylor may even “one-up” previous offerings with a larger deal.