Bitcoin Rallies Back to $95,000 Defying the Tariff War

HODLers are rejoicing as Bitcoin looks like it’s slowly climbing back towards the $100,000 mark, after tariff tensions eased and a new, deep-pocketed corporate bitcoin buyer looking to compete with Strategy is making headlines.

We also saw more spot Bitcoin ETFs buying in the second half of last month, with a net inflow of over $3.06 billion in the third week. 

Speaking of significant developments, we also saw the Cambridge Center for Alternative Finance shift its stance and show with new data that Bitcoin mining is a “green” industry. 

As you can see, there is a lot to talk about!  

Bitcoin’s Back to $95,000 📈

After a very volatile start to last month, which saw Bitcoin drop into the mid-$70,000s, easing tariff tensions and the announcement of a new corporate Bitcoin buyer helped Bitcoin climb back towards the psychologically significant $100,000 market.  

The new corporate Bitcoin buyer is called Twenty One Capital. 

Backed by SoftBank, Tether, and Bitfinex, and led by vocal Bitcoin advocate Jack Mallers, the goal of this company is to provide institutional exposure to Bitcoin, promote pro-Bitcoin advocacy, and deliver Bitcoin-focused content and media, with plans to explore future expansion into Bitcoin-native financial products. 

According to Mallers, the new Bitcoin-native company’s main goal is to increase Bitcoin Ownership per Share. 

Twenty One will start with 42,000 BTC on its balance sheet, but the goal is to acquire much more through capital raises with convertible notes and bonds. 

I’ll be following Twenty One’s Bitcoin purchases going forward, and I’m curious whether this will push other companies to follow suit in the coming months. 

At Samara Asset Group, we’ve been adding BTC to our balance sheet for several years and plan to buy as much BTC as possible going forward. 

Spot Bitcoin ETFs Record Highest Net Inflow Week Since the Elections 🚀

Last year, it was the norm for me to check net inflows into the Bitcoin ETFs, and in most weeks, we would either set a new record or at least have a “green” week. 

But since February this year, that has changed.

With Bitcoin’s volatility sparked by Trump’s announced traffic plans, we saw net negative outflows. 

Negative net flows continued into April, but once tariff concerns eased and the price of Bitcoin started rallying, everything changed in the third week of April. With a shortened week due to Easter, there was less trading volume, but the ETFs saw positive net flows once again. 

The week of April 25th was the best net inflow week in 2025 and the second-best week after the all-time high in November 2024. 

In total, over $3.06 billion in funds went into Bitcoin ETFs, spiking the total net assets of all funds to over $100 billion!

The last week of April also showed promise, as the stretch of continuous inflow days remained unbroken. 

The Cambridge Centre for Alternative Finance Changes Its Tone: They Now See Bitcoin Mining as a Green Industry! 🌱

The Cambridge Centre for Alternative Finance (CCAF) conducted a closer examination of Bitcoin in 2021. 

They released their first report and online data a few months later in 2022. There was a lot of favorable coverage, but they overlooked many of the renewable mining sites and drew a flawed conclusion based on a renewable energy mix of roughly 39%. 

The community pushed back again, and for the last two years, many independent researchers started reaching out with more reports and urged the CCAF to take a closer look. 

Which is precisely what they did! 

And to their credit, they took into account all the different reports and surveys to adjust their final number. 

As you can see in the image above from page 67 of the report, the total of renewable and sustainable energy is at 52.4%. 

With that number, we now have another established research center that demonstrates the environmental benefits of “green” Bitcoin mining. 

The report also demonstrates that many miners invest in at least one initiative to mitigate climate risks. With the growing number of hydro power projects in the mining space, that number could increase as well. 

I’ve found over the years that it’s best to simply present Bitcoin skeptics with these data sets or reports and let the figures and facts speak for themselves. 

But, considering that Bitcoin is amongst the greenest industries in the world–far more environmentally friendly than gold miners or even the banking sector–these skeptics could soon become Bitcoiners themselves. 

Or, if they choose not to, I follow the Bitcoin mantra: You get Bitcoin at the price you deserve. 

Your fellow stacker in Sats, 

Patrick Lowry