Bitcoin proxy stock Strategy surged over 12% today as the price of bitcoin roared above 77,000 dollars, extending a volatile week for crypto markets against the backdrop of war and fragile diplomacy in the Middle East.
The move added to the gains Strategy has notched in April after the company highlighted a 1.3 billion dollar “bitcoin gain” tied to the rebound in its holdings, even as it sits on large unrealized losses from prior quarters.
Bitcoin pushed through key resistance in the mid‑70,000s and briefly traded above $77,000, building on a multi‑day squeeze that has forced short sellers to cover. Derivatives data this week showed hundreds of millions of dollars in short liquidations, signaling traders were caught leaning against the rally as spot prices climbed back toward record territory.
The latest leg of the bitcoin rally has unfolded as Iran and the United States signal cautious progress toward de‑escalation after weeks of conflict that rattled global markets. Tehran said the Strait of Hormuz is now completely open to commercial shipping under a ceasefire framework linked to a new Israel‑Lebanon truce, even as Washington keeps a naval blockade in place until a broader peace deal is reached.
President Donald Trump said the war “should be ending pretty soon,” while negotiators explored a second round of talks after a first summit failed to produce a comprehensive agreement.
Earlier this week, Strategy intensified its already dominant Bitcoin accumulation strategy, purchasing 13,927 BTC for roughly $1 billion and bringing its total holdings to 780,897 BTC. The acquisition, funded entirely through its STRC at-the-market (ATM) stock program, reflects an average purchase price near $71,902 per coin and a cumulative cost basis of about $59 billion.
The company’s capital engine is accelerating. Between April 6 and April 12 alone, Strategy generated just over $1 billion in net proceeds by selling more than 10 million STRC preferred shares.
That momentum continued into this week, with a single trading day producing over $1 billion in STRC volume—100% of it above the $100 par value required to activate the ATM program. This allowed for an estimated $796 million in fresh capital and the potential purchase of more than 10,000 BTC in one day, far exceeding daily mining supply.
A key metric underscoring this acceleration is the “capture rate,” or the percentage of eligible trading volume converted into proceeds. This has surged from 45% in early March to 81% last week, signaling increasingly aggressive execution and strong institutional demand.
Strategy now overwhelmingly drives corporate Bitcoin accumulation. Of the 47,435 BTC added to corporate treasuries in March, approximately 44,377 BTC came from Strategy alone.
Strategy shares hit a high of $166.85 so far today.
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