Bitcoin has seen a strong rally with stocks to trade back at the $95,000 level but meets a familiar test of demand.
The price of BTC trades at $94,832 and is testing the level that provided strong support into 2025. This will be the deciding level and links two previous highs from 2017 and 2021.
Michael Saylor’s Strategy (formerly known as MicroStrategy) has been buying up BTC in the market again, despite a Q1 loss. The company acquired 1,895 bitcoins during the week of April 28 to May 4, 2025, at an average price of $95,167. The purchase brings its total holdings to 555,450 BTCs valued at around $38.08 billion.
The purchases were funded through stock offering programs, under which the company sold its own shares. The company says it sold 353,825 shares of its 2024 common stock shares and 575,392 preferred stock shares, raising $180.3 million.
With the latest buying spree, Strategy’s market value has increased to $52.2 billion, which is 2.6% of the total BTC in supply.
The company has bought more BTC despite posting a Q1 2025 net loss from operations widening to $5.921 billion, compared to $203.7 million for the first quarter of 2024. The company is now an all-or-nothing bet on the price of the world’s largest cryptocurrency.
The company used the recent speculative rally as confirmation that it is doing well.
“The company says it saw a strong start to the year, with a year-to-date ‘BTC Yield’ of 13.7%, achieving over 90% of its 2025 target in just the first four months of the year. Our year-to-date ‘BTC $Gain’ of $5.8 billion also meets 58% of our annual target, demonstrating the effectiveness of our Bitcoin strategy”.
Strategy is performing well with the recent Q1 BTC rally but is heavily invested in BTC at elevated levels. The price of BTC can continue higher with strength in stocks but the recent tariff slump in stocks highlights the risk in the market.
