Bitcoin and Nasdaq Surge as Tariff Concerns Fade; Strategy (MSTR) Rebounds
The aftermath of President Trump’s early April tariff announcements is slowly fading, with both Bitcoin (BTC) and major U.S. stock indexes experiencing strong recoveries.
At the time of writing, Bitcoin has surged above $97,000, marking its highest price in nearly ten weeks. It’s up 3.3% in the past 24 hours and has gained 14% since President Trump’s “Liberation Day” tariff announcements. Similarly, the Nasdaq has gained 2% today and is now 1% higher than it was just before the tariff news broke. The S&P 500 is also showing a 1% increase today, returning to pre-April levels.
Mike Bird, Wall Street editor at The Economist, humorously commented on X, saying, “You know there’s a guy out there living a life of zen-like contemplation in a cabin somewhere, refusing to check the news, who assesses his portfolio on a monthly basis and has no reason to believe that anything happened in April.”
Strategy (MSTR) Sees a Strong Rebound
Michael Saylor’s firm, Strategy (MSTR), has been a key player in the recovery. After plummeting 55% from its November record high to as low as $235 in mid-April, the company has bounced back, reaching a new year-to-date high just above $400.
However, some analysts are advising caution. “They don’t usually ring a bell at the top,” said Quinn Thompson, founder of Lekker Capital, in response to Bitwise’s Jeff Park celebrating MSTR’s longest winning streak since November 2023.
Strategy is set to release its first-quarter results after the market closes on Thursday. The company recently completed its $21 billion at-the-market share sale program with its most recent Bitcoin purchases.
With the firm’s large $53 billion Bitcoin stack, there’s growing speculation that Strategy may announce another massive equity offering. Michael Saylor, the Executive Chairman, hinted at something potentially in the works, encouraging his followers on X to tune into the upcoming earnings call. Thompson has suggested that Saylor might “one-up” the previous offerings.
