Monthly Review of April 2025

This monthly review examines the most important cryptocurrency-related news from April. The key cryptocurrency news in April revolved around corporate bitcoin purchases, the confirmation of crypto-friendly Paul Atkins as head of the SEC, Sui's price increase following positive developments, and Bitcoin's new hashrate record.

              
April in the Cryptocurrency Markets
April was an interesting time for cryptocurrency price movements, with significant fluctuations both up and down. Similar to the stock markets, the biggest single factor affecting the cryptocurrency market was the developments in the trade war between the United States and China. The price movements of the largest cryptocurrencies by market capitalization, Bitcoin and Ethereum, differed throughout the month. Bitcoin rose about ten percent in April, while Ethereum declined approximately five percent. Among the higher market cap cryptocurrencies available through Northcrypto, the best performers in April were Bittensor and Sui, both of which saw price increases of around 50 percent during the month.
Companies Announced Bitcoin Purchases
Several companies that had previously purchased bitcoin announced increased holdings in April:
U.S. company Strategy bought 25,370 bitcoins, raising its holdings to 553,555 bitcoins
U.S. company Tether, behind the stablecoin USDT, announced the purchase of 8,888 bitcoins, bringing its total holdings to 92,646 bitcoins
Japanese investment firm Metaplanet bought 1,650 bitcoins, increasing its total to 5,000 bitcoins
U.S. medical technology company Semler Scientific bought 275 bitcoins, bringing its holdings to 3,467 bitcoins
In addition to direct bitcoin purchase announcements, several major players joined forces in April to create a bitcoin investment company. Brandon Lutnick, head of investment banking at U.S. firm Cantor Fitzgerald, Japanese investment firm SoftBank, Tether (behind USDT), and crypto exchange Bitfinex, announced the launch of the bitcoin investment company Twenty One Capital. Listed for public trading, Twenty One Capital started with holdings of 42,000 bitcoins, immediately making it the third-largest corporate bitcoin holder. According to CEO Jack Mallers, the company aims to raise as much capital as possible to buy bitcoin.
Crypto-Friendly Paul Atkins Appointed as SEC Chair
In early April, the U.S. Senate confirmed crypto-friendly Paul Atkins as the head of the Securities and Exchange Commission (SEC). This marked a significant step forward for the cryptocurrency market, as Atkins’ predecessor, Gary Gensler, had taken legal action, sometimes on questionable grounds, against several crypto entities. Atkins is known to hold a stake worth up to $5 million in the crypto investment firm Off the Chain Capital. He has stated that his main objective as SEC chair is to establish a solid regulatory foundation for cryptocurrencies through a rational, consistent, and principled approach.
Sui's Price Increased in April Due to Positive News
The smart contract platform Sui, developed by former Meta (formerly Facebook) employees, was among the best-performing high market cap cryptocurrencies in April. Sui's price surged by nearly 50 percent, briefly ranking it as the 12th largest cryptocurrency by market cap. Two major factors contributed to the price rise: first, a partnership with payment-focused xPortal and xMoney enabled a virtual Mastercard card utilizing the Sui blockchain. Second, the largest crypto asset management company, Grayscale, launched a Sui fund.
Bitcoin Hashrate Reached a New Record
Bitcoin's hashrate hit a new record high in April. Hashrate refers to the total computational power used by miners to maintain the Bitcoin network. According to blockchain analytics firm Glassnode, the hashrate surpassed 1,000 ExaHashes per second (EH/s) for the first time in April, peaking mid-month at around 1,039 EH/s. For comparison, a year earlier the hashrate was around 650 EH/s. A record-high hashrate indicates that the Bitcoin network is more secure than ever. Historically, the hashrate has also shown a positive correlation with Bitcoin's price.
Summary
April brought several news items related to corporate bitcoin purchases. As usual, the most significant purchase was announced by U.S. company Strategy, whose holdings grew by about five percent during the month. The bitcoin purchases announced by other companies also demonstrate the commitment of bitcoin-holding companies to regularly increase their holdings. While the purchases by already-known bitcoin buyers were likely no surprise to many, the launch of Twenty One Capital, a publicly listed bitcoin investment company in the U.S., can be considered a more unexpected development. Since the company's goal is to raise as much capital as possible to buy bitcoin, we can expect to hear more about Twenty One Capital's purchases in the coming months.
From a regulatory perspective, April marked a major step forward in the treatment of cryptocurrencies in the U.S. with the confirmation of Paul Atkins as SEC chair. Under Atkins’ leadership, we will likely see a more positive approach toward cryptocurrencies, helping to strengthen the U.S.’s position as a leading hub for crypto innovation.
The Sui smart contract platform was one of the most positively spotlighted cryptocurrency projects in April. The news behind Sui's price surge provided a strong foundation for participation in the Sui ecosystem by both individuals and institutional players. The virtual Mastercard can be seen as a great way to attract individuals to use the Sui network, while the Grayscale fund improves access, especially for institutional investors.
Bitcoin’s hashrate continued its long-term upward trend in April, reaching a new record. This record-high hashrate indicates the most secure and robust Bitcoin network ever and is a strong testament to miners’ confidence in Bitcoin’s success in the years to come.

Ville Viitaharju
Cryptocurrency specialist