Hyperliquid PURR Shares Jump as Crypto Rally Continues, MicroStrategy Linked to New Bitcoin Target

Hyperliquid Strategies (ticker PURR) saw its share price rise from a December low of $2.90 to $10.70, lifting market capitalisation from $391 million to about $1.5 billion. The surge follows the purchase of more than 26.2 million HYPE tokens valued at roughly $1.9 billion, with the HYPE token climbing 266% to near its all‑time high and placing the Hyperliquid token among the top‑ten cryptocurrencies at a $19 billion valuation. Hyperliquid also leads the perpetual‑futures market, recording over $239 billion in 30‑day trading volume and generating strong stable‑coin revenues.

ARK Invest, chaired by Cathie Wood, raised its five‑year Bitcoin price target to $1.25 million (base case $750 000) while Bitcoin trades around $65 000. A decline in Bitcoin held on exchanges has reduced short‑term supply, heightening price sensitivity. The revised outlook influences Bitcoin‑focused companies such as MicroStrategy, whose stock moves in step with Bitcoin. After a brief sale of 32 BTC to fund a preferred‑share dividend, MicroStrategy’s share price fell before the firm repurchased the coins, illustrating the volatility tied to the firm’s treasury strategy.