Dernières nouvelles pour Strategy (NASDAQ:MSTR) Stock

MICROSTRATEGY INC-CL A

MicroStrategy

Strategy is a bitcoin treasury company and a provider of business intelligence services. It is designed to provide investors varying degrees of economic exposure to Bitcoin by offering a range of securities, including equity and fixed-income instruments. The company also provide industry AI-powered enterprise analytics software.

MicroStrategy Incorporated - Class A Common Stock

Strategy

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$135.00</td>
<td>$25.5K</td>
<td>63.7K</td>
<td>165.1K</td>
</tr>
<tr>
<td>PLTR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$124.00</td>
<td>$35.1K</td>
<td>2.9K</td>
<td>28.7K</td>
</tr>
<tr>
<td>AVGO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$235.00</td>
<td>$25.2K</td>
<td>2.3K</td>
<td>6.1K</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$450.00</td>
<td>$142.3K</td>
<td>2.2K</td>
<td>1.0K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$600.00</td>
<td>$95.3K</td>
<td>5.4K</td>
<td>150</td>
</tr>
<tr>
<td>FICO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$1440.00</td>
<td>$104.1K</td>
<td>9</td>
<td>3</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a put option sweep that happens to be bullish, is expiring today. Parties traded 300 contract(s) at a $135.00 strike. This particular put needed to be split into 28 different trades to become filled. The total cost received by the writing party (or parties) was $25.5K, with a price of $85.0 per contract. There were 63798 open contracts at this strike prior to today, and today 165117 contract(s) were bought and sold. 
• For PLTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), we notice a put option sweep that happens to be bullish, is expiring today. Parties traded 585 contract(s) at a $124.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $35.1K, with a price of $60.0 per contract. There were 2969 open contracts at this strike prior to today, and today 28728 contract(s) were bought and sold. 
• For AVGO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), we notice a put option sweep that happens to be bullish, is expiring today. Parties traded 200 contract(s) at a $235.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.2K, with a price of $126.0 per contract. There were 2314 open contracts at this strike prior to today, and today 6190 contract(s) were bought and sold. 
• For APP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), we notice a call option sweep that happens to be bullish, expiring in 21 day(s) on June 20, 2025. This event was a transfer of 219 contract(s) at a $450.00 strike. This particular call needed to be split into 45 different trades to become filled. The total cost received by the writing party (or parties) was $142.3K, with a price of $650.0 per contract. There were 2267 open contracts at this strike prior to today, and today 1076 contract(s) were bought and sold. 
• Regarding MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we observe a call option trade with bearish sentiment. It expires in 112 day(s) on September 19, 2025. Parties traded 75 contract(s) at a $600.00 strike. The total cost received by the writing party (or parties) was $95.3K, with a price of $1271.0 per contract. There were 5440 open contracts at this strike prior to today, and today 150 contract(s) were bought and sold. 
• Regarding FICO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>), we observe a call option trade with bearish sentiment. It expires in 77 day(s) on August 15, 2025. Parties traded 3 contract(s) at a $1440.00 strike. The total cost received by the writing party (or parties) was $104.1K, with a price of $34730.0 per contract. There were 9 open contracts at this strike prior to today, and today 3 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AVGO

FICO

MSTR

NVDA

PLTR

6 Information Technology Stocks Whale Activity In Today's Session

Strategy co-founder Michael Saylor took a dig at economist Peter Schiff on Thursday while highlighting Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) superiority over all assets, including gold.
What Happened:&nbsp;Speaking at the Bitcoin 2025 conference, Saylor said that Bitcoin is &#8220;engineered to outperform&#8221; all capital assets in the world.
&#8220;It&#8217;s going to grow faster than the S&amp;P, it&#8217;s going to appreciate faster than gold. Sorry, Peter!&#8221; Saylor poked fun at Schiff, a long-time gold advocate.
Schiff was quick to react, taking satisfaction in the fact that Saylor recognized him as the &#8220;world&#8217;s leading&#8221; gold advocate. 
&#8220;It&#8217;s just too bad he still refuses to debate gold versus Bitcoin with me,&#8221; Schiff said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At least <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@Saylor</a> knows who the world&#39;s leading gold advocate is. It&#39;s just too bad he still refuses to debate gold verses Bitcoin with me. <a href="https://t.co/EAQBG7tTDg">https://t.co/EAQBG7tTDg</a>
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1928285011364425844?ref_src=twsrc%5Etfw">May 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45469069/lendr-fi-launches-liquid-staked-real-world-asset-tokens" target="_blank" rel="noreferrer noopener">Lendr.fi Launches Liquid-Staked Real-World Asset Tokens</a>
Why It Matters:&nbsp;The friendly banter comes after Eric Trump, executive vice president of The Trump Organization, <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45661653/eric-trump-reveals-advice-from-michael-saylor-mortgage-mar-a-lago-and-take-2-billion-to-invest-in-bitcoin">praised Saylor&#8217;s Bitcoin optimism</a> and said that the cryptocurrency space is &#8220;fortunate&#8221; to have him.
Saylor, one of the most ardent supporters of Bitcoin, has put his money where his mouth is. His company Strategy is at the forefront of Bitcoin&#8217;s corporate adoption, owning a BTC stockpile worth more than $61 billion as of this writing, <a href="https://bitcointreasuries.net/">according</a> to bitcointreasuries.net.
Schiff, on the other hand, maintains that gold&#8217;s proven track record <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44332557/peter-schiff-teases-michael-saylor-apex-predator-gold-has-outperformed-bitcoin-by-24-since-2021">makes it a more reliable investment</a>. Interestingly, Schiff<a href="https://www.benzinga.com/markets/25/05/45685886/jd-vance-said-bitcoin-created-wealth-peter-schiff-says-it-did-no-such-thing-what-has-happened-is-a-m"> participated in the Bitcoin conference</a> to represent an opposing view about the asset.
Price Action: At the time of writing, Bitcoin was exchanging hands at $105,293.46, down 2.95% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. In the last year, the asset gained over 55%.
Spot gold traded at $3,295.79 per ounce as of this writing. The yellow metal rose 41% over the last year.
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45611404/anthony-scaramucci-remains-firm-on-bitcoin-as-the-best-investment-idea-even-as-the-largest-crypto-hovers-around-109000">Anthony Scaramucci Remains Firm On Bitcoin As The Best Investment Idea Even As The Largest Crypto Hovers Around $109,000</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Photo courtesy: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

Markets

$BTC

Michael Saylor Says Bitcoin Is 'Engineered To Outperfom' And 'Going To Go Faster Than Gold:' Peter Schiff Says 'He Still Refuses To Debate...'

Strategy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock premium, with a 0.52 correlation and 1.77 beta to Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price, positions it as a key leveraged proxy for <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45676010/michael-saylor-says-strategys-anti-fragile-structure-makes-trading-below-net-asset-value-good-for-me">risk asset investors</a>, according to a VanEck report.
What Happened: The <a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-deconstructing-strategy-mstr-premium-leverage-and-capital-structure/">report</a> highlights MSTR's strategy of issuing equity and debt to amass Bitcoin, currently holding 2.7% of the cryptocurrency's total supply, valued at $61 billion.
"MSTR's common equity currently trades at a premium (+112%) to the combined value of its BTC NAV and Strategy's underlying software business," the report states, attributing this premium to expectations of future Bitcoin accumulation, regulatory advantages, and speculative trading. 
This premium drives 96.5% of MSTR's returns and 87.5% of its volatility, with the stock's 30-day volatility at 113%, compared to Bitcoin's 55%.
MSTR's capital structure, including convertible bonds and preferred shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRK#NASDAQ">STRK</a>) and (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRF#NASDAQ">STRF</a>), introduces complexity and risk. 
The company has raised $28.7 billion since August 2024 to grow its Bitcoin holdings from 226,000 to 555,450 BTC.
Its $84 billion capital plan through 2027 aims to further increase Bitcoin per share, termed "Bitcoin Yield," targeting 25% for 2025. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45677845/court-ruling-limiting-trumps-tariff-powers-sparks-hope-for-risk-asset-revival-including-bitcoin">Court Ruling Limiting Trump&#8217;s Tariff Powers Sparks Hope For Risk Asset Revival, Including Bitcoin</a>
"The result is that MSTR stock offers accelerating exposure to BTC that advances in tandem with BTC price appreciation," VanEck notes, likening MSTR's dynamics to a call option on Bitcoin.
However, MSTR's strategy faces challenges. Buying Bitcoin at market highs results in a higher cost basis ($67,458) compared to randomized strategies, potentially reducing efficiency. 
A Bitcoin price drop could shrink the premium, disrupt financing, and widen credit spreads on bonds, currently at 500-1,250 basis points. 
"If Bitcoin's value declined, the Premium would also likely fall," the report warns, estimating a 1.77x beta impact. 
Regulatory shifts or competing Bitcoin treasury strategies could also erode MSTR's edge, as could a decline in its software business cash flow.
What&#8217;s Next: Despite these risks, MSTR remains a unique vehicle for investors restricted from direct Bitcoin ownership due to regulatory or custody issues, offering leveraged exposure through public markets.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45678209/ethereum-becoming-more-attractive-for-institutional-investors-jpmorgan-analysts-say">Ethereum Becoming More Attractive For Institutional Investors, JPMorgan Analysts Say</a></li>
</ul>
Image: Shutterstock

STRF

STRK

How Strategy's 0.52 Bitcoin Correlation Drives Risk Asset Surge: Report

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$140.00</td>
<td>$34.4K</td>
<td>9.5K</td>
<td>146.1K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$200.00</td>
<td>$31.0K</td>
<td>9.8K</td>
<td>47.3K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/06/25</td>
<td>$400.00</td>
<td>$40.0K</td>
<td>7.1K</td>
<td>6.7K</td>
</tr>
<tr>
<td>PLTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$130.00</td>
<td>$85.9K</td>
<td>14.8K</td>
<td>3.5K</td>
</tr>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/06/25</td>
<td>$250.00</td>
<td>$42.2K</td>
<td>7.8K</td>
<td>2.5K</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$22.00</td>
<td>$154.0K</td>
<td>7.7K</td>
<td>2.1K</td>
</tr>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$125.00</td>
<td>$149.2K</td>
<td>3.8K</td>
<td>1.9K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$480.00</td>
<td>$42.7K</td>
<td>5.6K</td>
<td>1.2K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$30.00</td>
<td>$25.6K</td>
<td>24.5K</td>
<td>1.0K</td>
</tr>
<tr>
<td>SNPS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$400.00</td>
<td>$47.3K</td>
<td>751</td>
<td>960</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a put option sweep that happens to be bullish, expiring in 1 day(s) on May 30, 2025. This event was a transfer of 210 contract(s) at a $140.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $34.4K, with a price of $164.0 per contract. There were 9547 open contracts at this strike prior to today, and today 146163 contract(s) were bought and sold. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a call option sweep that happens to be bearish, expiring in 1 day(s) on May 30, 2025. This event was a transfer of 186 contract(s) at a $200.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $31.0K, with a price of $167.0 per contract. There were 9895 open contracts at this strike prior to today, and today 47301 contract(s) were bought and sold. 
• Regarding MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we observe a call option sweep with bullish sentiment. It expires in 8 day(s) on June 6, 2025. Parties traded 99 contract(s) at a $400.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $40.0K, with a price of $405.0 per contract. There were 7130 open contracts at this strike prior to today, and today 6744 contract(s) were bought and sold. 
• Regarding PLTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), we observe a call option sweep with bullish sentiment. It expires in 22 day(s) on June 20, 2025. Parties traded 207 contract(s) at a $130.00 strike. This particular call needed to be split into 26 different trades to become filled. The total cost received by the writing party (or parties) was $85.9K, with a price of $415.0 per contract. There were 14815 open contracts at this strike prior to today, and today 3593 contract(s) were bought and sold. 
• Regarding AVGO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), we observe a call option sweep with bullish sentiment. It expires in 8 day(s) on June 6, 2025. Parties traded 60 contract(s) at a $250.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $42.2K, with a price of $700.0 per contract. There were 7860 open contracts at this strike prior to today, and today 2555 contract(s) were bought and sold. 
• Regarding INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we observe a call option trade with bearish sentiment. It expires in 113 day(s) on September 19, 2025. Parties traded 1000 contract(s) at a $22.00 strike. The total cost received by the writing party (or parties) was $154.0K, with a price of $154.0 per contract. There were 7785 open contracts at this strike prior to today, and today 2149 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a put option sweep that happens to be bullish, expiring in 78 day(s) on August 15, 2025. This event was a transfer of 93 contract(s) at a $125.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $149.2K, with a price of $1605.0 per contract. There were 3835 open contracts at this strike prior to today, and today 1924 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a call option sweep that happens to be bearish, expiring in 22 day(s) on June 20, 2025. This event was a transfer of 287 contract(s) at a $480.00 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $42.7K, with a price of $149.0 per contract. There were 5689 open contracts at this strike prior to today, and today 1258 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a call option sweep that happens to be bearish, expiring in 204 day(s) on December 19, 2025. This event was a transfer of 200 contract(s) at a $30.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $25.6K, with a price of $128.0 per contract. There were 24500 open contracts at this strike prior to today, and today 1060 contract(s) were bought and sold. 
• Regarding SNPS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>), we observe a put option sweep with bullish sentiment. It expires in 22 day(s) on June 20, 2025. Parties traded 86 contract(s) at a $400.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $47.3K, with a price of $550.0 per contract. There were 751 open contracts at this strike prior to today, and today 960 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AAPL

INTC

MARA

MSFT

SNPS

10 Information Technology Stocks With Whale Alerts In Today's Session

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Executive Chairman Michael Saylor dismissed concerns about his company potentially trading below net asset value, saying that the firm&#8217;s operational flexibility would allow it to profit from such scenarios <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45641767/strategy-metaplanet-continue-bitcoin-treasury-push-but-the-pace-is-slowing">unlike closed-end trusts.</a>
What Happened: &#8220;If you&#8217;re a closed-end trust and you trade below NAV, that&#8217;s death. If you&#8217;re an operating company and we trade below NAV, we just get to monetize that—that&#8217;s good for me,&#8221; Saylor <a href="https://www.youtube.com/watch?v=AH236XOWNiI&amp;ab_channel=BitcoinMagazine">said</a> during a Q&amp;A session at the Bitcoin Conference, contrasting Strategy&#8217;s structure with Grayscale&#8216;s Bitcoin Trust, which previously traded at significant discounts.
Saylor emphasized that Strategy&#8217;s status as an operating company provides crucial advantages over trust structures.
&#8220;We can buy stock, sell stock, recapitalize, we can take on debt to fix or to close a gap,&#8221; he pointed out, noting that trust companies lack such operational flexibility to manage their capital structure.
The executive outlined how Strategy could respond to irrational market pricing through its diverse financial instruments. 
&#8220;If someone&#8217;s stupid enough to short my stock to a dollar, I would sell a billion dollars of the preferred and I would buy back the common stock,&#8221; Saylor stated, describing how the company could recapitalize and drive the common stock price higher.
When asked about diversification versus his all-in Bitcoin strategy, Saylor remained adamant about concentration. 
&#8220;Bitcoin&#8217;s the only digital commodity and if you&#8217;re going to be a public company then you need to be capitalized on a commodity,&#8221; he said, adding that &#8220;there&#8217;s one best asset and there is no second best asset.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45661653/eric-trump-reveals-advice-from-michael-saylor-mortgage-mar-a-lago-and-take-2-billion-to-invest-in-bitcoin">Eric Trump Reveals Advice From Michael Saylor: Mortgage Mar-A-Lago And Take $2 Billion To Invest In Bitcoin</a>
Why It Matters: The chairman explained that diversification would undermine Strategy&#8217;s entire business model by reducing volatility and destroying the company&#8217;s options market value. 
Mathematical models consistently indicate &#8220;the right answer is 100% Bitcoin,&#8221; according to Saylor, as diluting Bitcoin holdings would &#8220;destroy your performance.&#8221;
Looking toward artificial intelligence&#8217;s impact, Saylor predicted massive capital concentration as AI reduces demand for traditional economic inputs. 
He forecasts the demand for land to fall by a factor of 10 and the demand for labor to fall by a factor of 100, saying capital will be the most relevant input factor left.
Addressing concerns about concentration risk, Saylor noted that Strategy&#8217;s pursuit of 2.5% of Bitcoin&#8217;s supply resulted in &#8220;$23 billion gain for us&#8221; but &#8220;$2.2 trillion gain for everybody else.&#8221; 
This demonstrates Bitcoin&#8217;s anti-fragile network effects where aggressive buying empowers all other holders.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45673445/this-100-hit-rate-bitcoin-signal-just-flashed-buy-a-big-deal-analyst-stresses">This &#8216;100% Hit Rate&#8217; Bitcoin Signal Just Flashed Buy: &#8216;A Big Deal,&#8217; Analyst Stresses</a>
Image: Shutterstock

Michael Saylor Says Strategy's 'Anti-Fragile' Structure Makes Trading Below Net Asset Value 'Good For Me'

As Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) keeps climbing, some public companies aren't just watching from the sidelines &#8211; they're quietly <a href="https://www.benzinga.com/crypto">raking in billions</a> just by holding it.
From household names like Tesla Inc. (NASDAQ: TSLA) and Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>) to surprise entries like Semler Scientific Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>) and Next Technology Holding Inc. (NASDAQ: NXTT), companies that bought Bitcoin early are now enjoying eye-popping gains.
The key? It's not just how much Bitcoin they own &#8211; it's how early and how cheaply they got in.
Let's break down which companies are winning the most from their Bitcoin bets.
<h2 class="wp-block-heading">MicroStrategy: The Ultimate Bitcoin Whale</h2>
No surprises here &#8211; MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) remains the corporate king of Bitcoin. The company holds over 580,000 Bitcoins, and its investment has <a href="https://bitcointreasuries.net/">grown</a> from a $40.6 billion cost to more than $63 billion in value.
That's more than $22 billion in unrealized profit. With over 60% of its market value now tied to Bitcoin, MicroStrategy has become a proxy for crypto exposure on Wall Street.
<h2 class="wp-block-heading">Tesla: Silent Holder, Big Profits</h2>
Elon Musk's Tesla might not talk much about crypto these days, but it certainly knows how to make it count. The EV giant scooped up 11,509 Bitcoins for just $386 million. That same stash is now worth $1.25 billion &#8211; a gain of more than 220%.
For a trillion-dollar company, it's a small position but a massive return.
<h2 class="wp-block-heading">Block: Square's Bitcoin Is Multiplying</h2>
Jack Dorsey's Block, formerly Square, took an early leap into Bitcoin. And it paid off. 
The company's 8,584 Bitcoin holdings have nearly quadrupled in value—from $261 million to over $930 million. While it&#8217;s best known for payments and fintech, Bitcoin is becoming a major part of the story.
Read Also: <a href="https://www.benzinga.com/general/education/25/05/45656079/microsoft-passed-on-bitcoin-while-gamestop-jumped-in-whos-laughing-now">Microsoft Passed On Bitcoin While GameStop Jumped In: Who&#8217;s Laughing Now?</a>
<h2 class="wp-block-heading">GameStop: From Meme To Bitcoin Holder</h2>
GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) is back in the headlines, this time not for short squeezes but for Bitcoin. The company recently acquired 4,710 Bitcoins, which are now worth over $511 million.
While the purchase price is unknown, the valuation suggests GameStop bought in at an opportune time. With over 3.5% of its market value in Bitcoin, it's the latest unexpected name betting on crypto.
<h2 class="wp-block-heading">Next Technology: A Quiet Crypto Play With Loud Results</h2>
Next Technology might not be a household name, but it's one of the biggest Bitcoin gainers on the list. Its 5,833 Bitcoin investment &#8211; originally worth just $183 million &#8211; is now valued at over $633 million.
That's a gain of more than 240%, making it one of the stealthiest winners in the corporate Bitcoin world.
<h2 class="wp-block-heading">Semler Scientific: From Medical Devices To Digital Gold</h2>
In a move that turned heads, Semler Scientific bought 4,264 Bitcoins worth nearly $463 million. With a market cap of just over $500 million, almost 90% of the company's value is now tied to Bitcoin. It's one of the boldest moves among small-cap companies &#8211; and it could pay off handsomely if Bitcoin keeps rising.
While miners like MARA Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) and Riot Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) have long held Bitcoin as part of their operations, it&#8217;s the companies that bought Bitcoin early and cheaply that are seeing the biggest windfalls. Whether they're tech giants, medical firms, or meme stocks, these Bitcoin believers are proving that timing really is everything.
As corporate treasuries evolve, don't be surprised if more firms follow suit. With returns like these, sitting on Bitcoin might just be the best investment decision they've ever made.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/restaurants/25/05/45660000/steak-n-shake-thanks-bitcoin-for-higher-sales-lower-fees-and-its-celebrating-with-blockchain-menu">Steak &#8216;N Shake Thanks Bitcoin For Higher Sales, Lower Fees — And It&#8217;s Celebrating With &#8216;Blockchain Menu&#8217;</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Trading Ideas

Next Technology Holding Inc. - Ordinary Shares

NXTT

RIOT

SMLR

TSLA

Tesla, Block Ride Bitcoin Boom As MicroStrategy Goes All In

Eric Trump, the executive vice president of The Trump Organization, was all praise for Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder Michael Saylor on Wednesday, stating that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is "fortunate" to have him.
What Happened: Speaking at the Bitcoin 2025 conference in Las Vegas, Trump recalled how Saylor attempted to persuade him to invest in the apex cryptocurrency.
"You need to mortgage Mar-a-Lago right now. You need to take $2 billion out of Mar-a-Lago and need to go long Bitcoin," Trump quoted Saylor as saying.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="The Bitcoin Conference 2025 &#x7C; Day 2 Livestream" width="500" height="281" src="https://www.youtube.com/embed/fOUEiNAwiDE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Eric Trump mentioned how Saylor advises everyone to follow his Bitcoin playbook and how it's an &#8220;incredible opportunity&#8221; to capitalize on.
"I&#8217;ve never seen that in any other industry where you have the titan of the industry that&#8217;s literally advocating for smart people to compete against them," he said about Saylor.
Meanwhile, when asked for a prediction, Trump said Bitcoin would clear $170,000 in a year.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45556899/from-amazon-to-warren-buffetts-berkshire-hathawaybitcoin-is-now-bigger-than-these-wall-street-titans">From Warren Buffett&#8217;s Berkshire Hathaway To Jeff Bezos&#8217; Amazon — Bitcoin Is Now Outshining These Wall Street Titans</a>
Why It Matters: These remarks come a day after Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45635335/donald-trump-jr-says-we-are-seriously-long-bitcoin-and-after-tmtg-reveals-treasury-strategy">announced it will use</a> the proceeds of a $2.5 billion private offering to create a Bitcoin reserve, a playbook popularized by Saylor&#8217;s firm Strategy.
Donald Trump Jr., Eric's elder brother, said at the same conference earlier that <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45635335/donald-trump-jr-says-we-are-seriously-long-bitcoin-and-after-tmtg-reveals-treasury-strategy">they were "seriously long"</a> on Bitcoin and committed to the leading cryptocurrency. &nbsp;
The Trump family's investments in cryptocurrencies were steadily growing. They previously made <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44560290/trump-family-to-dive-into-bitcoin-mining-after-defi-meme-coin-projects">strategic bets on Bitcoin mining</a> along with <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45160707/eric-trump-says-world-libertys-stablecoin-will-be-used-to-close-a-2-billion-deal-dollar-token-to-also-get-integrated-with-justin-suns-tron-blockchain">ties</a> to the decentralized finance platform World Liberty Financial.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $108,259.01, down 0.50% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Shares of Strategy rose 1.55% higher in after-hours trading after closing 7.95% lower at $364.25 during Wednesday&#8217;s regular trading session.
MSTR stock demonstrated a very high momentum score as of this writing. To find out how other Bitcoin-holding companies stack up on this parameter, visit&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="510" height="191" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28231538/image-372.png" alt="" class="wp-image-930798" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28231538/image-372.png 510w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28231538/image-372-300x112.png 300w" sizes="(max-width: 510px) 100vw, 510px" /></a></figure>
Photo Courtesy: Maxim Elramsisy On Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45611404/anthony-scaramucci-remains-firm-on-bitcoin-as-the-best-investment-idea-even-as-the-largest-crypto-hovers-around-109000">Anthony Scaramucci Remains Firm On Bitcoin As The Best Investment Idea Even As The Largest Crypto Hovers Around $109,000</a></li>
</ul>

Eric Trump Reveals Advice From Michael Saylor: Mortgage Mar-A-Lago And Take $2 Billion To Invest In Bitcoin

Video game retailer GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) became one of the newest companies to buy Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) for <a href="https://www.benzinga.com/topic/bitcoin">its balance sheet.</a>
The move comes months after the world's largest company Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42421374/microsoft-shareholders-reject-proposal-to-explore-bitcoin-investment">decided not to buy </a>Bitcoin in December.
What Happened: GameStop <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45643177/gamestop-buys-4710-bitcoins-heres-why-markets-are-watching">announced it bought </a>4,710 Bitcoin in a press release Wednesday. The move follows months of speculation and reports the company was preparing to invest some of its billions of dollars in cash into the leading cryptocurrency.
The company joins the growing likes of MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) that wish to have Bitcoin on the balance sheet instead of cash as a hedge against inflation or with the belief that Bitcoin&#8217;s price will continue to go up.
MicroStrategy Chairman Michael Saylor has been a vocal Bitcoin supporter and also argued that companies should be adding Bitcoin to their balance sheets.
Saylor gave a brief presentation to Microsoft's board of directors after a shareholder proposal known as "Assessment of Investing in Bitcoin" proposed that the company invest a portion of its cash and/or profits into Bitcoin as a hedge against inflation.
Microsoft's board recommended that shareholders reject the proposal due to the unpredictable price movements of Bitcoin.
Shareholders rejected the proposal, and Microsoft was left with $78.4 billion in cash and no Bitcoin purchases.
Read Also: <a href="https://www.benzinga.com/general/sports/25/02/43578857/if-you-invested-in-bitcoin-instead-of-buying-super-bowl-tickets-each-year-since-2012-heres-how-much-youd-have-today">If You Invested in Bitcoin Instead of Buying Super Bowl Tickets Each Year Since 2012, Here&#8217;s How Much You&#8217;d Have Today</a>
Missed Out Profits: While Microsoft shareholders rejected the proposal, the same investors could have watched the company's asset value grow if they had supported the purchase.
Had Microsoft invested 1% of its $78.4 billion cash balance ($784 million) into Bitcoin at the time, the company could have added 7,978 BTC, based on a high price of $98,270.16 on Dec. 10, 2024.
Today, those Bitcoin would be worth $860,524,073.14 based on a price of $107,862.13 for Bitcoin at the time of writing.
This represents a potential profit of $76.5 million in five months and a gain of 9.8% on the money invested in Bitcoin.
While that sounds like a small amount for a company valued at more than $3 trillion, it's important to remember this is based only on 1% of the company's cash and no additional Bitcoin purchases since the initial December date.
For comparison, while Bitcoin is up 9.8% over the five-month time frame, Microsoft stock is up only 1.8%.
Bitcoin has outperformed Microsoft stock over many time periods, including year-to-date, one-year and five-year returns. Bitcoin is up 15.4% year-to-date, +58.3% in one year and +1,011.7% in five years. Compare that to Microsoft stock, which is up 9.4% year-to-date, +6.5% in one year and +150.0% in five years.
More companies are expected to add Bitcoin to their balance sheets in the coming years. Microsoft may be entering later than others, but it still has time to act before broader corporate and sovereign adoption takes hold.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40946963/bitcoin-worth-63-000-pulled-in-33-pack-of-trading-cards-at-gamestop-mind-boggling-story-go">Bitcoin Worth $63,000 Pulled In $33 Pack Of Trading Cards At GameStop: &#8216;Mind-Boggling&#8217; Story Goes Viral, Highlights Crypto Redemption Card</a></li>
</ul>
Photo: creativeneko / Shutterstock.com

Education

Microsoft Passed On Bitcoin While GameStop Jumped In: Who's Laughing Now?

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$135.00</td>
<td>$197.2K</td>
<td>28.4K</td>
<td>34.2K</td>
</tr>
<tr>
<td>U</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$25.00</td>
<td>$27.7K</td>
<td>3.0K</td>
<td>29.2K</td>
</tr>
<tr>
<td>CRWV</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$100.00</td>
<td>$37.7K</td>
<td>12.2K</td>
<td>8.5K</td>
</tr>
<tr>
<td>INTC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/18/26</td>
<td>$22.00</td>
<td>$2.3 million</td>
<td>390</td>
<td>5.3K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$350.00</td>
<td>$245.2K</td>
<td>1.1K</td>
<td>4.6K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$362.50</td>
<td>$36.0K</td>
<td>300</td>
<td>3.5K</td>
</tr>
<tr>
<td>IREN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$7.00</td>
<td>$43.6K</td>
<td>1.6K</td>
<td>3.1K</td>
</tr>
<tr>
<td>OKTA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/18/26</td>
<td>$90.00</td>
<td>$111.9K</td>
<td>3</td>
<td>2.8K</td>
</tr>
<tr>
<td>WULF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$5.00</td>
<td>$95.2K</td>
<td>12.2K</td>
<td>2.7K</td>
</tr>
<tr>
<td>CSCO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$72.50</td>
<td>$432.5K</td>
<td>817</td>
<td>2.5K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a put option sweep that happens to be bullish, expiring in 2 day(s) on May 30, 2025. This event was a transfer of 493 contract(s) at a $135.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $197.2K, with a price of $400.0 per contract. There were 28470 open contracts at this strike prior to today, and today 34268 contract(s) were bought and sold. 
• Regarding U (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>), we observe a call option trade with bullish sentiment. It expires in 2 day(s) on May 30, 2025. Parties traded 308 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $27.7K, with a price of $90.0 per contract. There were 3083 open contracts at this strike prior to today, and today 29276 contract(s) were bought and sold. 
• Regarding CRWV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>), we observe a put option sweep with bearish sentiment. It expires in 2 day(s) on May 30, 2025. Parties traded 400 contract(s) at a $100.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $37.7K, with a price of $94.0 per contract. There were 12238 open contracts at this strike prior to today, and today 8561 contract(s) were bought and sold. 
• For INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we notice a put option trade that happens to be bullish, expiring in 478 day(s) on September 18, 2026. This event was a transfer of 5000 contract(s) at a $22.00 strike. The total cost received by the writing party (or parties) was $2.3 million, with a price of $461.0 per contract. There were 390 open contracts at this strike prior to today, and today 5300 contract(s) were bought and sold. 
• Regarding MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we observe a call option trade with neutral sentiment. It expires in 233 day(s) on January 16, 2026. Parties traded 20 contract(s) at a $350.00 strike. The total cost received by the writing party (or parties) was $245.2K, with a price of $12261.0 per contract. There were 1179 open contracts at this strike prior to today, and today 4635 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option sweep that happens to be bullish, expiring in 2 day(s) on May 30, 2025. This event was a transfer of 37 contract(s) at a $362.50 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $36.0K, with a price of $975.0 per contract. There were 300 open contracts at this strike prior to today, and today 3577 contract(s) were bought and sold. 
• Regarding IREN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>), we observe a put option sweep with bullish sentiment. It expires in 51 day(s) on July 18, 2025. Parties traded 1553 contract(s) at a $7.00 strike. This particular put needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $43.6K, with a price of $28.0 per contract. There were 1675 open contracts at this strike prior to today, and today 3123 contract(s) were bought and sold. 
• Regarding OKTA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>), we observe a put option trade with bullish sentiment. It expires in 386 day(s) on June 18, 2026. Parties traded 116 contract(s) at a $90.00 strike. The total cost received by the writing party (or parties) was $111.9K, with a price of $965.0 per contract. There were 3 open contracts at this strike prior to today, and today 2870 contract(s) were bought and sold. 
• Regarding WULF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>), we observe a call option sweep with bullish sentiment. It expires in 79 day(s) on August 15, 2025. Parties traded 2500 contract(s) at a $5.00 strike. This particular call needed to be split into 47 different trades to become filled. The total cost received by the writing party (or parties) was $95.2K, with a price of $38.0 per contract. There were 12263 open contracts at this strike prior to today, and today 2701 contract(s) were bought and sold. 
• For CSCO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), we notice a call option trade that happens to be bearish, expiring in 233 day(s) on January 16, 2026. This event was a transfer of 2500 contract(s) at a $72.50 strike. The total cost received by the writing party (or parties) was $432.5K, with a price of $173.0 per contract. There were 817 open contracts at this strike prior to today, and today 2501 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CRWV

CSCO

IREN

OKTA

WULF

10 Information Technology Stocks Whale Activity In Today's Session

<ul>
<li>NVDA</li>
<li>TSLA</li>
<li>UNH</li>
<li>BULL</li>
<li>GLD</li>
<li>MSTR</li>
<li>$BTC</li>
<li>GME</li>
<li>RDDT</li>
<li>GOOGL</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

BULL

GOOGL

RDDT

Top 10 Trending Stocks On WallStreetBets As Of May 28, 2025 (Via Swaggy Stocks)

GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares surged Wednesday in premarket trading after the company announced the purchase of <a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/b45639344/gamestop-announces-purchase-of-bitcoin" rel="noreferrer noopener">4,710</a> Bitcoins (CRYPTO: BTC/USD), marking a significant step in its pivot toward digital assets.
This acquisition follows GameStop&#8217;s earlier decision to adopt Bitcoin as a treasury reserve asset, a move confirmed during its fourth-quarter <a target="_blank" href="https://www.benzinga.com/general/gaming/25/03/44482313/gamestop-q4-earnings-revenue-miss-eps-beat-shares-surge-as-board-approves-bitcoin-as-treasury-reserve-asset" rel="noreferrer noopener">earnings</a> release.
As of May 27, 2025, the leading cryptocurrency <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45635733/bitcoin-ethereum-dogecoin-gain-after-trump-medias-planned-btc-investment-consumer-optimism-analyst-says-this-large-crypto-is-best-play-in-base-portfolio-at-the-moment">briefly surged </a>above $110,000 before retreating to the $108,000 range overnight. GameStop did not disclose the average purchase price of its 4,710 Bitcoins.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/25/05/45567005/strategy-mstr-stock-rises-on-2-1b-preferred-stock-offering-bitcoin-all-time-high" rel="noreferrer noopener">Strategy (MSTR) Stock Rises On $2.1B Preferred Stock Offering, Bitcoin All-Time High</a>
In its fourth-quarter results, GameStop reported revenue of $1.28 billion, down 28% year-over-year and below analyst expectations. Adjusted earnings per share came in at 30 cents, beating the consensus estimate of eight cents.
In a separate <a href="https://www.benzinga.com/pressreleases/25/03/g44481289/gamestop-announces-update-to-its-investment-policy-to-add-bitcoin-as-a-treasury-reserve-asset" target="_blank" rel="noreferrer noopener">announcement</a>, the board reaffirmed its commitment to Bitcoin, approving its formal inclusion as a treasury reserve asset.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/25/05/45611864/trump-media-group-reportedly-plans-to-raise-3-billion-to-buy-cryptocurrencies-borrowing-a-page-from-mstr-" rel="noreferrer noopener">Trump Media Group Reportedly Plans To Raise $3 Billion To Buy Cryptocurrencies: &#8216;Borrowing A Page&#8217; From MSTR Playbook, Says Peter Schiff</a>
GameStop&#8217;s renewed embrace of digital assets comes as it looks to reshape its financial strategy amid declining core revenue.
The company&#8217;s adoption of Bitcoin reflects a broader corporate trend, with firms like MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), and Semler Scientific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>) also integrating digital assets into their treasuries as a diversification tool and a hedge against traditional market volatility.
Related: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/25/05/45641767/strategy-metaplanet-continue-bitcoin-treasury-push-but-the-pace-is-slowing" rel="noreferrer noopener">Strategy, Metaplanet Continue Bitcoin Treasury Push But The Pace Is Slowing</a>
Price Action: At the last check on Wednesday, GME shares were trading higher by 2.20% at $35.78 premarket.
Read Next:
<a target="_blank" href="https://www.benzinga.com/25/05/45638708/donald-trump-jr-reveals-how-getting-de-banked-de-insured-led-him-and-eric-trump-to-orange-pill-their-dad-on-crypt" rel="noreferrer noopener">Donald Trump Jr. Reveals How Getting &#8216;De-Banked,&#8217; &#8216;De-Insured&#8217; Led Him And Eric Trump To &#8216;Orange Pill&#8217; Their Father On Crypto</a>
Photo: Shutterstock

GameStop Buys 4,710 Bitcoins — Here's Why Markets Are Watching

Two of the most prominent corporate backers of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and Japan-based Metaplanet (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/MTPLF#OTCQX">MTPLF</a>), are continuing their aggressive <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45564703/strategy-unveils-2-1b-at-the-market-program-to-acquire-more-bitcoin">BTC acquisition strategies</a>.
Strategy revealed earlier this week that it had acquired 4,020 more Bitcoin for approximately $427.1 million between May 19 and May 25. 
This purchase brings the firm's total BTC holdings further into the billions but also highlights a decline in the pace of its recent buying activity. 
Most of the funds came from a $21 billion at-the-market (ATM) stock offering, with $348.7 million raised last week, down from over $700 million the week before, and substantially less than the $1.31 billion secured during the early-May surge.
According to K33 Research&#8216;s Vetle Lunde, the slowdown in Strategy's acquisition pace correlates with diminishing premiums on its MSTR shares relative to its bitcoin assets, as well as broader investor dilution, The Block <a href="https://www.theblock.co/post/355975/strategy-softening-bitcoin-buys-shrinking-premium-growing-corporate-treasury-competition?utm_source=twitter&amp;utm_medium=social">reported</a>.
MSTR's premium to net asset value dropped from 185% to 163% last Friday, its lowest since early April, leading to speculation that future capital raises may be more moderate than those witnessed during its high-volume streak last November.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45639376/cactus-custody-integrates-eth-vaults-for-institutional-clients">Cactus Custody Integrates ETH Vaults For Institutional Clients</a>
Meanwhile, Metaplanet, often <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44582786/asias-microstrategy-metaplanet-and-tether-announce-major-bitcoin-purchases">likened to Strategy in the Asian market</a>, is also pressing forward.
The Tokyo-listed firm has <a href="https://www.theblock.co/post/355979/metaplanet-eyes-more-bitcoin-purchases-with-new-50-million-bond-raise?utm_source=twitter&amp;utm_medium=social">issued</a> $50 million in zero-interest bonds, its 16th such issuance, to fuel further BTC accumulation.
Cayman Islands-based Evo Fund fully subscribed to this round, continuing its long-standing support of Metaplanet's bitcoin-focused financial strategy.
The announcement prompted a 9.5% increase in Metaplanet's share price on May 28. 
The firm, which began acquiring Bitcoin in April 2024, aims to hold 10,000 BTC by the end of 2025.
Its most recent disclosure revealed the purchase of 1,004 BTC for $104 million, bringing its current stash to around 7,800 BTC, making it the largest public BTC holder in Asia and 11th globally.
Both Strategy and Metaplanet are operating in a rapidly evolving landscape, with over 70 companies now implementing some form of bitcoin treasury strategy. 
These include Trump Media (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), which just joined the cohort via a <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45635733/bitcoin-ethereum-dogecoin-gain-after-trump-medias-planned-btc-investment-consumer-optimism-analyst-says-this-large-crypto-is-best-play-in-base-portfolio-at-the-moment">$2.5 billion private raise</a> supported by institutional backers.
Analysts note that with more firms offering Bitcoin exposure through equity, demand may gradually diversify away from single flagship entities like Strategy.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45633777/core-integrates-with-ceffu-to-enable-direct-bitcoin-staking-from-institutional-custody-accounts">Core Integrates With Ceffu To Enable Direct Bitcoin Staking From Institutional Custody Accounts</a></li>
</ul>
Image: Shutterstock

MTPLF

Strategy, Metaplanet Continue Bitcoin Treasury Push But The Pace Is Slowing

While stocks languish below all-time highs, the cryptocurrency market has entered a new bull phase, with Bitcoin hitting all-time highs last week. As direct cryptocurrency investment has gained traction, many investors are now exploring public companies with significant exposure to digital assets. 
Investing in cryptocurrencies is easier for those of us who already have a brokerage account, though it&#8217;s crucial to understand the risks. 
Cryptocurrency markets are inherently volatile, even more so than small caps. Dramatic price swings driven by speculation and sentiment are common. The ever-evolving regulations and technological developments give the space a Wild West feel.
Investing in stocks with fortunes tied to Bitcoin or other digital currencies introduces an even greater layer of unpredictability and risk than conventional stock picking.
That unpredictability and volatility is a risk. But it can also send these stocks soaring.
In this article, we'll pick four stocks that can outperform in a Bitcoin bull market based on technical signals, earnings potential, and the amount of digital assets they hold. Word to the wise: always use an extra measure of caution when investing in crypto-adjacent companies.
<h2 class="wp-block-heading">Coinbase Global Inc.</h2>
Coinbase  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), one of the first companies to offer cryptocurrency investing to retail traders, became the first cryptocurrency exchange to go public in April 2021. The stock quickly shot over $300 per share following the IPO, topping out at $353 at the peak of the 2021 Bitcoin bull market in November. However, like the broader crypto market, Coinbase entered a bear market in 2022, dropping under $50 per share by the start of 2023. Despite its massive market cap and customer base, the stock didn't participate in the 2023 market recovery and only started showing renewed strength once the rally extended to 2024.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfunWdsxqH2-mZLKHcpgU9vQZQJv8IyqtAuLLnRSgRJdilcD9NAIRhShwZMLlDei5fexmCNrFvJgRbNgLUoAotla78XIlUxrb8zwxGr6mUmC7f_w34tDKJNuwuQSOqkFNhkocP2kg?key=4EP4ZqrnKMWz_ZR-254PyQ" alt="" /></figure>
Much like the price of Bitcoin, COIN shares declined for the second half of 2024 before rallying again on Donald Trump's presidential victory in hopes of relaxed crypto regulation. Then, another extended decline followed Inauguration Day, and the stock suffered a 50% haircut. However, now that Bitcoin is reaching new all-time highs, COIN shares have joined in on the fun again, and a new all-time high for the exchange might not be far behind.
The daily chart above shows the stock breaking out of its downtrend thanks to a 16% gain on May 13 on heavy volume. Coinbase reported over $1.2 trillion in trading volume in 2024. Analysts at Goldman Sachs, Benchmark, Oppenheimer, and Rosenblatt have all boosted price targets in the last two weeks. Based on current prices, Coinbase also owns 6,885 Bitcoins in its treasury, worth an estimated $750 million. 
<h2 class="wp-block-heading">Robinhood Markets Inc.</h2>
Robinhood  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) ushered in the commission-free stock trading era, and its 2021 IPO was one of the most heavily anticipated issues in years. But after jumping over $50 per share in the fall of 2021, the stock swooned and, unlike Coinbase, did not experience a new bull run when the market turned in 2023. It took until September 2024 for HOOD shares to sustain a price over $20, but the recent rally has been impressive and should have legs if crypto keeps ascending.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXff4TFbfpi92VaI1bzj4T7bZnEOkthFo8vQUnQPaubGjrYbM45tTsDjmA_HYChvvVba_n8lI3t7chZZcrzpXbYbkaXSZSF3iC4IBwgWF_gpmd7BZvYzZJce3b9Fk_9kI31i-Tn4AA?key=4EP4ZqrnKMWz_ZR-254PyQ" alt="" /></figure>
Today, Robinhood offers retirement accounts, banking services, premium features through its Gold subscription program, and a new platform called Legends for active traders. But the company's bread and butter is still crypto and options trading. In Q1 2025, the company reported $583 million in annual transaction-based revenue, including $252 million from cryptocurrency trading. The $252 million figure represents a 100% increase year-over-year; the company expects to grow total revenue by 30% in 2025.
Technical signals are also strong, with the price trading above the 50- and 200-day simple moving averages (SMAs) and recently reaching a new all-time high. Goldman Sachs, Deutsche Bank, and Needham boosted their price targets this month in defense of their Buy ratings. The average of $69 indicates an upside of nearly 10% from current levels.
<h2 class="wp-block-heading">Strategy Inc.&nbsp;</h2>
Formerly known as MicroStrategy, Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is the planet&#8217;s largest public holder of Bitcoin by a fairly wide margin. According to its most recent treasury report, Strategy now owns over 576,000 Bitcoins, more than 2.7% of the total supply and nearly 530,000 more than any other public company. CEO Michael Saylor has replaced much of his former software business with cryptocurrency management, and the stock has swung violently along with Bitcoin's price gyrations.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeHYtUPbhwZTAI1e-g3B4GuaYZuU-um2wGqH53TGJhEx7jzf5DB7U1pk1pgukmN79xL7vLkzqmIUAzmy45h44OwtfEFtzQ2jC4cH3HG1oEWWT3pXcPZw1HtlAXh1Vq8lcVCiYQiUw?key=4EP4ZqrnKMWz_ZR-254PyQ" alt="" /></figure>
Despite a poor track record of Bitcoin profits (the company has spent over $40 billion on its tokens and current holdings are worth just under $63 billion), MSTR shares often move in lockstep with the price of Bitcoin. The chart above is also flashing some interesting technical signals. After failing to sustain a breakout above the 50-day SMA, the stock finally busted through in mid-April and appeared to be tracking a new high before the RSI triggered an overbought signal, and shares declined. This pullback could be a new entry point for the latest Bitcoin bull market run, as Strategy is likely to continue adding Bitcoins to its treasury as the price action accelerates.
<h2 class="wp-block-heading">Tesla Inc.&nbsp;</h2>
Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares have been caught in a tug-of-war ever since CEO Elon Musk threw his hat into the political ring. Following Trump's November election win, TSLA shares jumped from $242 to $488 in six weeks. However, following the inauguration, shares plummeted to $225 as auto sales dipped globally amidst Musk's declining popularity.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdYJw6HhB9_mMrg2B6FiZVl68HixYSGXKjmYsxAVpL2CyLaMxmeE5TyfsloFYe0IOYyptScjw93cg0j_8dEB_mRMFTwstKR-uZocV_fkbP1_giqFDoGsfFtk6242FUHeffSG9-hoQ?key=4EP4ZqrnKMWz_ZR-254PyQ" alt="" /></figure>
Musk recently announced plans to forgo political dealings and concentrate on his companies. While that might be a difficult promise to hold in the future, TSLA stock has reacted positively. Despite declining sales, Tesla remains one of the best Bitcoin investors. The company is the fifth largest public owner with 11,500 Bitcoins, and the buys have been well-timed. The entry value of TSLA's Bitcoin holdings is $330 million, but the current value is over $1.2 billion, a gain of nearly 300% that dwarfs the returns of Strategy, which have barely topped 50%. The daily chart also looks bullish, as a double bottom pattern is receiving confirmation from a breakout on the MACD.
<h2 class="wp-block-heading">This ETF Moves When The Market Drops And Matt's Watching It Now</h2>
Volatility is rising—and one ETF tends to spike when chaos hits. Join Matt Maley this Wednesday to see how he trades it short-term using technical signals, sentiment, and tactical options setups. Claim your free seat <a href="https://events2.benzinga.com/matt-maley-webinar-wed-may28-2025-registration/?utm_campaign=webinar052825&amp;utm_adType=sponsorad&amp;utm_ad=RD052825">HERE</a>.
Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.
Photo: Shutterstock

Opinion

COIN

HOOD

4 Crypto Stocks To Consider As Bitcoin Hits New All-Time Highs

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$200.00</td>
<td>$25.7K</td>
<td>8.0K</td>
<td>47.0K</td>
</tr>
<tr>
<td>NVTS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$6.00</td>
<td>$30.2K</td>
<td>9.7K</td>
<td>18.1K</td>
</tr>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/06/25</td>
<td>$135.00</td>
<td>$81.0K</td>
<td>18.1K</td>
<td>8.7K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$465.00</td>
<td>$34.8K</td>
<td>8.5K</td>
<td>5.2K</td>
</tr>
<tr>
<td>QBTS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$18.50</td>
<td>$60.0K</td>
<td>1.8K</td>
<td>1.8K</td>
</tr>
<tr>
<td>IONQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/30/25</td>
<td>$40.00</td>
<td>$320.0K</td>
<td>2.9K</td>
<td>1.7K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$17.00</td>
<td>$35.8K</td>
<td>2.8K</td>
<td>1.6K</td>
</tr>
<tr>
<td>PONY</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$20.00</td>
<td>$57.7K</td>
<td>5.0K</td>
<td>1.3K</td>
</tr>
<tr>
<td>CRWV</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/06/25</td>
<td>$100.00</td>
<td>$91.9K</td>
<td>315</td>
<td>1.2K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$450.00</td>
<td>$32.1K</td>
<td>3.5K</td>
<td>1.2K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a call option sweep that happens to be bearish, expiring in 3 day(s) on May 30, 2025. This event was a transfer of 100 contract(s) at a $200.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.7K, with a price of $257.0 per contract. There were 8086 open contracts at this strike prior to today, and today 47077 contract(s) were bought and sold. 
• Regarding NVTS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>), we observe a call option trade with bearish sentiment. It expires in 24 day(s) on June 20, 2025. Parties traded 250 contract(s) at a $6.00 strike. The total cost received by the writing party (or parties) was $30.2K, with a price of $121.0 per contract. There were 9740 open contracts at this strike prior to today, and today 18192 contract(s) were bought and sold. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option sweep that happens to be bullish, expiring in 10 day(s) on June 6, 2025. This event was a transfer of 135 contract(s) at a $135.00 strike. This particular call needed to be split into 29 different trades to become filled. The total cost received by the writing party (or parties) was $81.0K, with a price of $600.0 per contract. There were 18196 open contracts at this strike prior to today, and today 8711 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a call option sweep that happens to be bearish, expiring in 3 day(s) on May 30, 2025. This event was a transfer of 272 contract(s) at a $465.00 strike. This particular call needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $34.8K, with a price of $128.0 per contract. There were 8565 open contracts at this strike prior to today, and today 5213 contract(s) were bought and sold. 
• For QBTS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>), we notice a put option sweep that happens to be bearish, expiring in 3 day(s) on May 30, 2025. This event was a transfer of 300 contract(s) at a $18.50 strike. This particular put needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $60.0K, with a price of $200.0 per contract. There were 1853 open contracts at this strike prior to today, and today 1817 contract(s) were bought and sold. 
• Regarding IONQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>), we observe a call option sweep with neutral sentiment. It expires in 3 day(s) on May 30, 2025. Parties traded 500 contract(s) at a $40.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $320.0K, with a price of $640.0 per contract. There were 2925 open contracts at this strike prior to today, and today 1772 contract(s) were bought and sold. 
• Regarding MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we observe a call option sweep with bullish sentiment. It expires in 52 day(s) on July 18, 2025. Parties traded 200 contract(s) at a $17.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $35.8K, with a price of $179.0 per contract. There were 2817 open contracts at this strike prior to today, and today 1689 contract(s) were bought and sold. 
• Regarding PONY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>), we observe a call option trade with neutral sentiment. It expires in 24 day(s) on June 20, 2025. Parties traded 199 contract(s) at a $20.00 strike. The total cost received by the writing party (or parties) was $57.7K, with a price of $290.0 per contract. There were 5029 open contracts at this strike prior to today, and today 1321 contract(s) were bought and sold. 
• For CRWV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>), we notice a put option trade that happens to be bearish, expiring in 10 day(s) on June 6, 2025. This event was a transfer of 200 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $91.9K, with a price of $460.0 per contract. There were 315 open contracts at this strike prior to today, and today 1274 contract(s) were bought and sold. 
• Regarding MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we observe a call option trade with bullish sentiment. It expires in 24 day(s) on June 20, 2025. Parties traded 55 contract(s) at a $450.00 strike. The total cost received by the writing party (or parties) was $32.1K, with a price of $585.0 per contract. There were 3536 open contracts at this strike prior to today, and today 1257 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

IONQ

NVTS

PONY

QBTS

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder Michael Saylor on Tuesday <a href="https://www.benzinga.com/markets/25/05/45590907/microstrategy-chair-michael-saylor-warns-of-end-of-digital-gold-rush-get-your-bitcoin-before-there-i">sharply criticized the practice</a> of publishing proof of reserves, calling it a security liability and a distraction from what truly matters, audited financials and institutional-grade transparency.
What Happened: His <a href="https://x.com/ProfessorB21/status/1927218071069966502">comments</a>, made in a public address, dismissed proof of reserves as a "crypto parlor trick" that offers no real protection and exposes companies to significant risk.
"It's like publishing the addresses and bank accounts of all your kids," said Saylor. "It doesn't make your family safer." 
He warned that making wallet addresses public opens an attack surface for hackers, nation-state actors, and other malicious entities. "You publish your wallet, that's an attack vector," he added.
Saylor's central critique is that most current proof-of-reserve disclosures are incomplete and misleading. 
"It's a proof of assets that is insecure and not a proof of liabilities," he said. "If you've incurred $50 billion in liabilities via fiat contracts, the security's no good."
He argued that the only acceptable standard for true financial attestation is the U.S. public company model: "a public company with a Big Four auditor, subject to Sarbanes-Oxley, where the CFO, CEO, and board are civilly and criminally liable." 
According to Saylor, this institutional accountability far outweighs wallet-based proof systems in the eyes of serious investors.
Also Read: <a href="https://www.benzinga.com/markets/25/05/45601917/bitcoin-rally-has-room-to-run-says-morgan-creeks-mark-yusko">Bitcoin Rally Has Room To Run, Says Morgan Creek&#8217;s Mark Yusko</a>
Why It Matters: While his critique resonated with some, it didn't land quietly.
Binance founder Changpeng Zhao (CZ) apparently <a href="https://x.com/cz_binance/status/1927301860970443032">responded</a> on social media with a mocking jab, "He probably sold bitcoins. &#x1f602;"
CZ's tweet quickly went viral, pointing out the divide between corporate-style governance advocated by figures like Saylor and the transparency-first ethos favored by many in the crypto-native world.
Saylor did leave room for future innovation, suggesting that a zero-knowledge proof-based system might eventually offer a secure compromise — but only if cleared by auditors, risk managers, custodians, and legal counsel.
Until then, he cautioned, proof of reserves should not be mistaken for institutional-grade assurance. 
"People give too much credence to it," he said. "It isn't God's gift."
Strategy currently holds 568,840 BTC, accumulated at a combined cost of $39.41 billion and an average purchase price of $69,287.
In a recent filing with the SEC, Strategy disclosed a 15.5% Bitcoin yield year-to-date, signaling the performance of its BTC holdings against cost basis amid continued price appreciation.
Strategy&#8217;s ATM program remains sizable, with over $40 billion in authorized securities, both common and preferred, still available for issuance.
The company&#8217;s approach continues to treat Bitcoin as its core treasury reserve, executed through <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45349057/strategy-buys-134b-in-bitcoin-at-99856-cites-155-btc-yield">traditional capital markets structures</a>.
Read Next: <a href="https://www.benzinga.com/markets/25/05/45601130/xrp-dogecoin-shiba-inu-waiting-to-pump-they-dominate-mindshare-they-can-lead-in-culture-expert-says">XRP, Dogecoin, Shiba Inu Waiting To Pump: &#8216;They Dominate Mindshare, They Can Lead In Culture,&#8217; Expert Says</a>

Michael Saylor Calls Proof Of Reserves A 'Crypto Parlor Trick', But Binance's Ex-CEO CZ Isn't Having It: 'He Probably Sold Bitcoins'

Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), the Trump family&#8217;s media company, is reportedly strategizing to raise a $3 billion investment in cryptocurrencies, such as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
What Happened: TMTG, the organization owned by the Trump family, is looking to raise $2 billion in new equity and an additional $1 billion through a convertible bond. This announcement could be made public ahead of a significant gathering of crypto investors and supporters in Las Vegas this week, as <a href="https://www.ft.com/content/cc55d091-0b28-40bb-a11c-e32d4e121ca3">reported</a> by the Financial Times on Monday.
After his re-election last year, President Donald Trump transferred his 53% stake in TMTG, currently valued at around $3 billion, to a revocable trust managed by his son Donald Jr.
Last month, a publicly traded blank-check company headed by Brandon Lutnick — the son of Commerce Secretary Howard Lutnick — announced a $3.6 billion deal to create a Bitcoin acquisition firm named Twenty One Capital, in partnership with Tether and SoftBank.
Trump Media &amp; Technology Group slammed the FT report, as per the publication. 
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/retail-sales/25/05/45610337/trumps-plan-to-rip-the-waste-out-means-end-of-the-road-for-the-penny-but-what-happens-when-cash-totals-jump-to-the-next-nickel" target="_blank" rel="noreferrer noopener">Trump&#8217;s Plan To &#8216;Rip The Waste Out&#8217; Means End Of The Road For The Penny, But What Happens When Cash Totals Jump To The Next Nickel &#8211; Benzinga</a>
Why It Matters: This move by TMTG comes after Bitcoin&#8217;s price surpassed a record-high of $109,000 last week. Notably, in April, Trump Media &amp; Technology Group Corp. saw a <a href="https://www.benzinga.com/25/04/44952422/djt-stock-pumps-on-trump-etf-news-but-the-200-day-average-says-wait-a-minute">rally of over</a> 25% in just five days. This surge was attributed to a high-profile partnership with Crypto.com and Yorkville America Digital, which led to the launch of a suite of &#8220;America-First&#8221; ETFs.
Meanwhile, notable economist Peter Schiff commented on X that TMTG is borrowing a page from Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder Michael Saylor&#8216;s &#8220;playbook.&#8221; Strategy, previously MicroStrategy, has transformed its market value to over $100 billion by leveraging debt and equity offerings to acquire tens of billions of dollars&#8217; worth of Bitcoin.
Peter Schiff also took a dig at TMTG, saying it&#8217;s unfortunate that Trump&#8217;s company isn&#8217;t able to open a factory and manufacture real products to help Americans avoid the impact of his own tariffs.
On Friday, DJT stock climbed 4.64% to close at $25.72. On a year-to-date basis, it plunged 24.4%. 
<ul class="wp-block-list">
<li>READ MORE: <a href="https://benzinga.com/markets/equities/25/05/45605521/after-jensen-huang-criticized-us-export-curbs-nvidia-set-to-launch-cheaper-blackwell-ai-chip-for" target="_blank" rel="noreferrer noopener">After Jensen Huang Criticized US Export Curbs, Nvidia Set To Launch Cheaper Blackwell AI Chip For China Amid Market Share Slide: Report</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

$DOGE

$ETH

Trump Media Group Reportedly Plans To Raise $3 Billion To Buy Cryptocurrencies: 'Borrowing A Page' From MSTR Playbook, Says Peter Schiff

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/23/25</td>
<td>$130.00</td>
<td>$137.4K</td>
<td>27.8K</td>
<td>84.7K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$410.00</td>
<td>$73.8K</td>
<td>2.7K</td>
<td>63.3K</td>
</tr>
<tr>
<td>AAPL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$195.00</td>
<td>$64.9K</td>
<td>6.9K</td>
<td>31.7K</td>
</tr>
<tr>
<td>INFA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$20.00</td>
<td>$31.1K</td>
<td>347</td>
<td>12.6K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$15.00</td>
<td>$52.4K</td>
<td>49.3K</td>
<td>6.3K</td>
</tr>
<tr>
<td>CRWV</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$100.00</td>
<td>$29.7K</td>
<td>3.9K</td>
<td>2.5K</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$185.00</td>
<td>$77.6K</td>
<td>57</td>
<td>850</td>
</tr>
<tr>
<td>ENPH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/18/25</td>
<td>$40.00</td>
<td>$45.4K</td>
<td>1.8K</td>
<td>527</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>12/19/25</td>
<td>$52.50</td>
<td>$43.6K</td>
<td>211</td>
<td>341</td>
</tr>
<tr>
<td>MSFT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$450.00</td>
<td>$30.8K</td>
<td>2.2K</td>
<td>248</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with bullish sentiment. It expires in 3 day(s) on May 23, 2025. Parties traded 896 contract(s) at a $130.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $137.4K, with a price of $153.0 per contract. There were 27863 open contracts at this strike prior to today, and today 84792 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option sweep that happens to be bullish, expiring in 4 day(s) on May 30, 2025. This event was a transfer of 242 contract(s) at a $410.00 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $73.8K, with a price of $305.0 per contract. There were 2797 open contracts at this strike prior to today, and today 63369 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a put option trade with bearish sentiment. It expires in 4 day(s) on May 30, 2025. Parties traded 194 contract(s) at a $195.00 strike. The total cost received by the writing party (or parties) was $64.9K, with a price of $335.0 per contract. There were 6941 open contracts at this strike prior to today, and today 31744 contract(s) were bought and sold. 
• For INFA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFA#NYSE">INFA</a>), we notice a call option trade that happens to be bearish, expiring in 25 day(s) on June 20, 2025. This event was a transfer of 75 contract(s) at a $20.00 strike. The total cost received by the writing party (or parties) was $31.1K, with a price of $415.0 per contract. There were 347 open contracts at this strike prior to today, and today 12613 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a call option sweep that happens to be neutral, expiring in 25 day(s) on June 20, 2025. This event was a transfer of 400 contract(s) at a $15.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $52.4K, with a price of $131.0 per contract. There were 49366 open contracts at this strike prior to today, and today 6305 contract(s) were bought and sold. 
• Regarding CRWV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>), we observe a call option sweep with bearish sentiment. It expires in 4 day(s) on May 30, 2025. Parties traded 35 contract(s) at a $100.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $29.7K, with a price of $854.0 per contract. There were 3936 open contracts at this strike prior to today, and today 2571 contract(s) were bought and sold. 
• For SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we notice a put option sweep that happens to be bearish, expiring in 207 day(s) on December 19, 2025. This event was a transfer of 42 contract(s) at a $185.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $77.6K, with a price of $1845.0 per contract. There were 57 open contracts at this strike prior to today, and today 850 contract(s) were bought and sold. 
• For ENPH (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), we notice a call option sweep that happens to be bearish, expiring in 53 day(s) on July 18, 2025. This event was a transfer of 101 contract(s) at a $40.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $45.4K, with a price of $450.0 per contract. There were 1815 open contracts at this strike prior to today, and today 527 contract(s) were bought and sold. 
• For WDC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>), we notice a call option sweep that happens to be neutral, expiring in 207 day(s) on December 19, 2025. This event was a transfer of 74 contract(s) at a $52.50 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $43.6K, with a price of $590.0 per contract. There were 211 open contracts at this strike prior to today, and today 341 contract(s) were bought and sold. 
• Regarding MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we observe a put option sweep with bullish sentiment. It expires in 235 day(s) on January 16, 2026. Parties traded 10 contract(s) at a $450.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $30.8K, with a price of $3080.0 per contract. There were 2228 open contracts at this strike prior to today, and today 248 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ENPH

INFA

SNOW

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is back in the headlines, this time flashing a textbook Golden Cross — a bullish technical pattern that has historically preceded massive rallies in <a href="https://www.benzinga.com/crypto">the crypto's price.</a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0526"><img loading="lazy" decoding="async" width="631" height="486" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/26090419/Screenshot-2025-05-26-at-6.24.49-PM.png" alt="" class="wp-image-927503" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/26090419/Screenshot-2025-05-26-at-6.24.49-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/26090419/Screenshot-2025-05-26-at-6.24.49-PM-300x231.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0526">Chart created using Benzinga Pro</a>
Read Also:<a href="https://www.benzinga.com/25/05/45519909/bitcoin-vs-ethereum-try-btc-eth-why-smart-money-bets-on-both"> Bitcoin Vs. Ethereum? Try BTC + ETH &#8211; Why Smart Money Bets On Both</a>
<h2 class="wp-block-heading">Golden Cross Sparks Momentum Shift</h2>
The golden cross occurs when the 50-day moving average crosses above the 200-day moving average, signaling a shift in long-term momentum. It signals the onset of a bullish run. 
With BTC already smashing through $112,000 and comfortably above its key short-term moving averages, traders are reading this as a green light for more gains.
The chart doesn't lie. Bitcoin's eight-day, 20-day and 50-day simple moving averages all sit below the current price, reinforcing bullish momentum. The MACD (moving average convergence/divergence) indicator flashes a hefty +3,824 and the RSI (relative strength index) hovers at 67.83 — hot, but not overheated.
<h2 class="wp-block-heading">Strategy Doubles Down With $427M Bitcoin Buy</h2>
This move comes on the heels of fresh firepower from Strategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), the corporate titan with the world's largest Bitcoin treasury. The company just <a href="https://www.strategy.com/press/strategy-acquires-4020-btc-now-holds-580250-btc_05-26-2025">scooped</a> up 4,020 BTC for $427 million, pushing its total haul to a staggering 580,250 coins. 
Its average buy-in? A cool $69,979.
That latest buy was funded through at-the-market offerings, part of Strategy's long-running bet that Bitcoin isn't just a digital currency — it's the future of money. 
With the crypto now sitting nearly 60% higher over the past year and 17% up year to date, that bet is looking pretty savvy.
And while the road to Bitcoin's next all-time high might come with some bumps — the occasional dip, the regulatory tremor — the technical picture suggests bulls are once again in the driver's seat.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://benzinga.com/25/05/45541977/from-bars-to-blocks-bitcoin-now-outshines-gold-in-american-wallets">From Bars To Blocks: Bitcoin Now Outshines Gold In American Wallets</a></li>
</ul>
Image: Shutterstock/Frame Stock Footage

Technicals

Signals

Bitcoin Breaks Out: Golden Cross Confirmed, Strategy Fuels Fire With $427 Million Buy

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/23/25</td>
<td>$131.00</td>
<td>$29.8K</td>
<td>7.6K</td>
<td>118.4K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$410.00</td>
<td>$68.1K</td>
<td>2.7K</td>
<td>28.3K</td>
</tr>
<tr>
<td>PLTR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/23/25</td>
<td>$123.00</td>
<td>$26.0K</td>
<td>5.7K</td>
<td>9.3K</td>
</tr>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/06/25</td>
<td>$250.00</td>
<td>$78.0K</td>
<td>4.5K</td>
<td>3.6K</td>
</tr>
<tr>
<td>RGTI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$15.00</td>
<td>$28.6K</td>
<td>3.2K</td>
<td>2.3K</td>
</tr>
<tr>
<td>APLD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$5.00</td>
<td>$27.2K</td>
<td>5.7K</td>
<td>2.1K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$195.00</td>
<td>$226.8K</td>
<td>2.3K</td>
<td>1.0K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$455.00</td>
<td>$221.0K</td>
<td>2.0K</td>
<td>517</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$120.00</td>
<td>$34.9K</td>
<td>9.4K</td>
<td>453</td>
</tr>
<tr>
<td>INTU</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/18/25</td>
<td>$720.00</td>
<td>$446.0K</td>
<td>1</td>
<td>428</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option sweep that happens to be bullish, is expiring today. Parties traded 284 contract(s) at a $131.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $29.8K, with a price of $105.0 per contract. There were 7616 open contracts at this strike prior to today, and today 118427 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option trade that happens to be bullish, expiring in 7 day(s) on May 30, 2025. This event was a transfer of 213 contract(s) at a $410.00 strike. The total cost received by the writing party (or parties) was $68.1K, with a price of $320.0 per contract. There were 2797 open contracts at this strike prior to today, and today 28378 contract(s) were bought and sold. 
• For PLTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), we notice a put option sweep that happens to be bearish, is expiring today. Parties traded 500 contract(s) at a $123.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $52.0 per contract. There were 5725 open contracts at this strike prior to today, and today 9362 contract(s) were bought and sold. 
• For AVGO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), we notice a call option sweep that happens to be bullish, expiring in 14 day(s) on June 6, 2025. This event was a transfer of 200 contract(s) at a $250.00 strike. This particular call needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $78.0K, with a price of $390.0 per contract. There were 4537 open contracts at this strike prior to today, and today 3628 contract(s) were bought and sold. 
• Regarding RGTI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>), we observe a call option sweep with bearish sentiment. It expires in 28 day(s) on June 20, 2025. Parties traded 173 contract(s) at a $15.00 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $28.6K, with a price of $165.0 per contract. There were 3226 open contracts at this strike prior to today, and today 2363 contract(s) were bought and sold. 
• For APLD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>), we notice a call option sweep that happens to be bearish, expiring in 602 day(s) on January 15, 2027. This event was a transfer of 69 contract(s) at a $5.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $27.2K, with a price of $395.0 per contract. There were 5717 open contracts at this strike prior to today, and today 2111 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a call option sweep with bullish sentiment. It expires in 56 day(s) on July 18, 2025. Parties traded 200 contract(s) at a $195.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $226.8K, with a price of $1134.0 per contract. There were 2383 open contracts at this strike prior to today, and today 1029 contract(s) were bought and sold. 
• Regarding MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we observe a call option trade with bearish sentiment. It expires in 84 day(s) on August 15, 2025. Parties traded 100 contract(s) at a $455.00 strike. The total cost received by the writing party (or parties) was $221.0K, with a price of $2210.0 per contract. There were 2070 open contracts at this strike prior to today, and today 517 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a call option trade that happens to be bullish, expiring in 84 day(s) on August 15, 2025. This event was a transfer of 57 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $34.9K, with a price of $613.0 per contract. There were 9420 open contracts at this strike prior to today, and today 453 contract(s) were bought and sold. 
• Regarding INTU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>), we observe a put option sweep with bearish sentiment. It expires in 56 day(s) on July 18, 2025. Parties traded 154 contract(s) at a $720.00 strike. This particular put needed to be split into 29 different trades to become filled. The total cost received by the writing party (or parties) was $446.0K, with a price of $2850.0 per contract. There were 1 open contracts at this strike prior to today, and today 428 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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