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Bitcoin tops $97K as institutional demand and state reserves rise
By: thestreet|2025/05/04 08:30:01
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Bitcoin Surges Past $97K as Institutional Demand and Fed Outlook Fuel RallyBitcoin’s price has surged from $93,000 to over $97,000 on May 2. Institutional activity, favorable macro conditions, and regulatory developments likely drove the price increase. One catalyst was Strategy’s announcement that it had acquired another 15,355 BTC, bringing its total holdings to over 553,000 BTC. Meanwhile, spot Bitcoin ETFs saw net inflows of $2.68 billion this week—the highest since December, reflecting renewed institutional demand. Investors are also reacting to expectations that the Federal Reserve could cut interest rates in June due to slowing economic growth, making Bitcoin more attractive relative to traditional assets. Positive technical indicators, such as Bitcoin’s all-time high realized market cap, further suggest strong conviction among holders. Amid global uncertainty and inflation concerns, Bitcoin’s role as a hedge appears to be gaining traction, reinforcing the bullish momentum.Semler Scientific Boosts Bitcoin Holdings, Hits 23.8% YTD BTC YieldSemler Scientific, Inc. (Nasdaq: SMLR), a medical technology company focused on chronic disease detection, continues to deepen its commitment to Bitcoin as its primary treasury reserve asset. On April 30, 2025, the company announced it had acquired an additional 165 BTC for $15.7 million, bringing its total holdings to 3,467 BTC. These purchases were funded through proceeds from an at-the-market (ATM) equity offering initiated earlier in April. As of April 29, Semler’s Bitcoin portfolio, acquired at an average price of $88,263, had a market value of $330.6 million.Year to date, the company has achieved a 23.8% Bitcoin yield—its designated key performance indicator (KPI) for treasury strategy performance. Semler believes this metric helps investors evaluate the accretive impact of its Bitcoin acquisition approach. Despite this growing financial strategy, Semler remains committed to its core healthcare mission while actively leveraging cash flow and market opportunities to build a differentiated treasury model anchored in digital assets.Arizona Moves to Create First State Bitcoin Reserve as National Trend BuildsThe Arizona Legislature has approved two Republican-led bills that would allow the state to invest up to 10% of its public funds, potentially over $3 billion, into digital assets like Bitcoin. If signed into law, Arizona would become the first U.S. state to establish a state-level Bitcoin reserve, aligning with President Trump’s recent push for a national “strategic crypto reserve.” The bills now await action from Democratic Governor Katie Hobbs, who has not indicated whether she plans to sign or veto them. A veto would halt the effort entirely.Arizona isn’t alone in this push. Several other states are exploring similar bills to add Bitcoin to their balance sheets. The debate on whether states should establish a strategic bitcoin reserve centers around Bitcoin as a modern-day hedge against inflation vs. price volatility concerns. Republican State Senator Wendy Rogers argued that Bitcoin’s long-term growth tells a different story if you zoom out. And with growing interest from younger voters and independents, some lawmakers see it as both a financial and political win.Metaplanet Launches $250M Bitcoin Treasury Arm in FloridaTokyo-based Metaplanet is launching a new subsidiary in Florida, Metaplanet Treasury Corp. The branch will be part of its expanded Bitcoin treasury strategy. The U.S.-based arm will be capitalized with up to $250 million and serve as a dedicated vehicle to support global operations and improve access to institutional capital in the United States.Metaplanet, already Asia’s largest publicly traded Bitcoin holder, selected Florida due to its growing reputation as a hub for Bitcoin innovation, adoption, and financial liberalization. CEO Simon Gerovich cited the state’s accelerating crypto-friendly environment as a key factor in the decision.The move follows a string of recent Bitcoin purchases by Metaplanet, including a 145 BTC buy last week that brought its total holdings to 5,000 BTC. The firm’s strategy increasingly mirrors that of U.S.-based Strategy, which has rebranded itself around aggressive Bitcoin accumulation. By establishing a U.S. presence, Metaplanet aims to further align itself with global markets and strengthen its long-term Bitcoin-focused financial strategy.
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