Bitcoin Reaches $97,000 as Demand from Institutions and National Reserves Rises

Bitcoin skyrocketed from $93,000 to over $97,000 on May 2. Institutional activity, favorable macro conditions, and legal developments may have driven the price higher. A catalyst is the announcement from Strategy that they have purchased an additional 15,355 BTC, bringing the total BTC holdings to over 553,000 BTC. Meanwhile, spot Bitcoin ETFs have seen a net inflow of $2.68 billion this week - the highest since December, reflecting the demand from new institutions. Investors are also reacting to expectations that the Federal Reserve may cut interest rates in June due to slowing economic growth, making Bitcoin more attractive compared to traditional assets. Positive technical indicators, such as Bitcoin's all-time high real market capitalization, further demonstrate strong confidence among holders. In the context of global instability and concerns about inflation, the risk-hedging role of Bitcoin seems to be receiving increasing attention, reinforcing the price uptrend. Semler Scientific increases its Bitcoin holdings, achieving a BTC yield of 23.8% YTD. Semler Scientific, Inc. (Nasdaq: SMLR), a healthcare technology company focused on chronic disease detection, continues to reinforce its commitment to using Bitcoin as its primary treasury reserve asset. On April 30, 2025, the company announced that it had purchased an additional 165 BTC for $15.7 million, bringing its total holdings to 3,467 BTC. These purchases were funded through the proceeds from the ATM (at-the-market) stock offering initiated in early April. As of April 29, Semler's Bitcoin portfolio, purchased at an average price of 88,263 dollars, has a market value of 330.6 million dollars. As of now, the company has achieved a Bitcoin profit margin of 23.8%—the key performance indicator (KPI) assigned for treasury strategic performance. Semler believes this metric helps investors assess the cumulative impact of the company's Bitcoin buyback approach. Despite this evolving 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 is creating the state's first Bitcoin reserve fund as a national trend is developing. The Arizona legislature has approved two bills led by the Republican Party, allowing the state to invest up to 10% of its public funds, potentially exceeding $3 billion, in digital assets such as Bitcoin. If signed into law, Arizona will become the first state in the United States to establish a state-level Bitcoin reserve fund, aligning with President Trump's recent effort for a national "strategic cryptocurrency reserve fund." The bills are currently awaiting action from Democratic Governor Katie Hobbs, who has not indicated whether she intends to sign or veto them. A veto would completely block this effort. Arizona is not the only state taking this move. Several other states are also considering similar bills to add Bitcoin to their balance sheets. The debate over whether countries should establish strategic bitcoin reserve funds focuses on Bitcoin as a hedge against inflation risk compared to current price volatility. Republican Senator Wendy Rogers argues that the long-term growth of Bitcoin will tell a different story if you look further. And with the increasing interest from younger and independent voters, some lawmakers see this as a financial and political win. Metaplanet launches a Bitcoin treasury branch worth 250 million dollars in Florida Metaplanet, based in Tokyo, is launching a new subsidiary in Florida, Metaplanet Treasury Corp. This branch will be part of the strategy to expand the Bitcoin treasury. The branch, based in the United States, will be funded up to 250 million dollars and will operate as a dedicated vehicle to support global operations and improve access to capital for organizations in the United States. Metaplanet, which is the largest publicly traded Bitcoin holding company in Asia, has chosen Florida for its growing reputation as a hub for innovation, adoption, and the liberalization of Bitcoin finance. CEO Simon Gerovich cited the state's developing cryptocurrency-friendly environment as a key factor in this decision. This move comes after a series of recent Bitcoin purchases by Metaplanet, including the purchase of 145 BTC last week, bringing the total number of Bitcoin held to 5,000 BTC. The company's strategy increasingly reflects the strategy of Strategy based in the United States, as the company has rebranded itself to strongly accumulate Bitcoin. By establishing a presence in the United States, Metaplanet aims to forge closer ties with the global market and strengthen its long-term financial strategy focused on Bitcoin.