Bitcoin Surges 14% Since Liberation Day, Hits $97,000
1min read Bitcoin has surged past $97,000, marking its highest point in nearly ten weeks. This surge comes amidst a broader market recovery following the initial panic triggered by President Trump's Liberation Day tariff announcements. The cryptocurrency has seen a 3.3% increase over the past 24 hours and a 14% rise since Liberation Day. This upward trend is not isolated to Bitcoin; major U.S. stock averages, including the Nasdaq and the S&P 500, have also shown significant gains. The Nasdaq, for instance, has risen by about 1% since Liberation Day, while the S&P 500 has returned to its pre-Liberation Day levels.
Michael Saylor's Strategy, a company known for its significant investments in Bitcoin, has also seen a notable rebound. After plummeting about 55% from its November record high to as low as $235 in mid-April, Strategy has hit a new year-to-date high just above $400. This rebound has sparked speculation about the company's future moves, particularly regarding its equity offerings. Strategy is set to post its first-quarter results after the market close on Thursday, and there is anticipation that the company might announce a fresh equity offering to further bolster its $53 billion Bitcoin stack. Executive Chairman Michael Saylor has hinted at potential developments, urging his followers to tune into the earnings call. Analysts, including Lekker Capital founder Quinn Thompson, have also speculated that Saylor might announce a significant equity offering, potentially surpassing the company's earlier offerings.
Despite the optimism, some analysts are urging caution. Quinn Thompson, for instance, has cautioned that market highs are not typically signaled in advance. This sentiment is echoed by others who advise investors to remain vigilant and consider the broader market context. The recent surge in Bitcoin and Strategy's stock price, coupled with the broader market recovery, suggests a renewed confidence in the cryptocurrency and technology sectors. However, the potential for further volatility remains, and investors are advised to stay informed and prepared for any market shifts.
