Strategy shares surge as Bitcoin breaks above $70,000

Strategy (NASDAQ:MSTR) shares jumped 10.9% in pre-market trading on Friday after Bitcoin surged above $70,000 overnight, reaching its highest level since early June 2026 and triggering strong gains across cryptocurrency-linked equities.

Strategy remains one of the stock market's most closely watched proxies for Bitcoin because of its substantial exposure to the cryptocurrency, leaving its shares particularly sensitive to sharp movements in the digital asset.

The rally pushed MSTR to $124.60 in pre-market trading from a previous close of $112.39.

Treasury action and White House crypto talks boost Bitcoin

Bitcoin's breakout was supported by a combination of improving liquidity expectations and favourable political signals from Washington.

The US Treasury announced plans to at least double its longer-term bond buyback operations to a minimum of $4 billion per transaction. The move helped ease pressure on Treasury yields and contributed to a more supportive environment for risk assets.

Sentiment was further strengthened by President Donald Trump's meeting with cryptocurrency industry executives, reinforcing expectations of a more favourable US policy environment for digital assets.

Together, the developments helped drive Bitcoin around 8% higher in a single session.