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…

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