Bitcoin Surges Above $91K As Corporate Holders, Crypto Miners, And Exchanges All See Strategy Shares Rise
Key Takeaways:
- Strategy shares surged more than 9% following Bitcoin’s rise beyond $91,000.
- Crypto mining stocks logged double-digit gains on renewed investor enthusiasm.
- Market participants are still split on whether the BTC rally will sustain above $93,000.
Bitcoin’s Rally Sparks Surge in Crypto-Linked Stocks
Bitcoin climbed back above $91,000 on April 22, hitting its highest level since early March and prompting a broad rally in crypto-related equities. The milestone sent shares of Strategy (MSTR) up over 9%, maintaining a four-day surge in which the stock reached a two-month high of $348.08.
The surge follows an announcement from Strategy regarding a new Bitcoin purchase: 6,556 BTC for around $566 million. With this move, the firm’s total holdings climbed to 538,200 BTC, further solidifying its lead as the largest corporate holder of the digital asset.
Strategy has acquired 6,556 BTC for ~$555.8 million at ~$84,785 per bitcoin and has achieved BTC Yield of 12.1% YTD 2025. As of 4/20/2025, we hodl 538,200 $BTC acquired for ~$36.47 billion at ~$67,766 per bitcoin. $MSTR $STRK $STRFhttps://t.co/Drmb6g2D36
— Strategy (@Strategy) April 21, 2025
Despite macroeconomic uncertainty, market confidence in Strategy’s Bitcoin-focused approach has remained strong. The company’s share price is up more than 15% this year and more than doubled in the past year — even as investors react to President Donald Trump’s recent tariff announcements, which have impacted major indices.
Double-Digit Gains Led By Miners
Bitcoin’s 4.76% gain on the day boosted not only Strategy’s shares but also sparked a rally among cryptocurrency mining firms. Cipher Mining (CIFR) jumped more than 15%, while Terawulf (WULF) and Cleanspark (CLSK) rose 16.2% and 13.9%, respectively.
Riot Platforms (RIOT), the No. 3 public company Bitcoin holder, also spiked more than 10% today. Bitfarms (BITF), on the other hand, climbed nearly 14%.
However, the sector-wide optimism did not translate well for Marathon Digital (MARA), which only posted an 8.5% gain against the double-digit jumps seen with other peers. Analysts cited the relative lag on recent delays in Marathon’s mining expansion efforts.
Exchanges Rebound on Continued Bullish Sentiment
Crypto exchanges also reaped rewards from the Bitcoin rebound. Coinbase Global (COIN) shares climbed nearly 9%, while Robinhood (HOOD) shares jumped 7.3%. Increased user activity and transaction volumes have historically been associated with major spikes in crypto prices. As a result, these platforms benefit from the upward momentum.
Investor sentiment was also lifted by a broader rebound in U.S. shares, which rebounded from losses on Monday that followed President Trump’s scolding of Federal Reserve Chair Jerome Powell. His comments have led to fresh fears about central bank independence and interest rate policy, prompting some investors to turn to alternative assets such as Bitcoin and gold.
$93K Strong Resistance Level is Major Hurdle for Bitcoin
Traders marked the $93,000 level — Bitcoin’s yearly open — as an important resistance point, with Bitcoin recently surpassing $91,000.
Bitcoin was approaching a horizontal range low that had once acted as support.
Bitcoin’s Attractiveness in Broader Market Context
The recent rally coincides with escalating trade tensions, as the U.S. imposes new tariffs on countries like China and Japan. Concerns over how international markets will respond have led investors to turn to more time-tested safe-haven assets—gold hit its historic high, while Bitcoin is still considered a hedge against the instability of fiat currencies.
While sentiment has clearly improved, many traders remain cautious and wait for better confirmation signals before piling in with long-term bullish bets.
More News: Metaplanet’s $28M Bitcoin Buy Signals Rising Institutional Confidence in Crypto
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