Bitcoin Surges 7.91% Weekly, Hits $103,558.88 on Institutional Interest

Bitcoin has recently surpassed the $100,000 mark, reaching $103,558.88, and has seen a 0.33% daily gain and a 7.91% increase over the past week. This significant milestone indicates growing institutional and sovereign interest in the asset. The surge in Bitcoin's value has been accompanied by record inflows into exchange-traded funds (ETFs) and increased confidence from institutional investors.

BlackRock’s spot Bitcoin ETF, IBIT, has been a notable beneficiary of this trend, recording $356.2 million in inflows on the 9th of May. This marks the fund's longest streak of inflows this year, reflecting the growing confidence among large-scale investors as Bitcoin’s bullish momentum builds. The fund has attracted over $1.03 billion in just the past trading week, coinciding with a volatile yet upward-trending Bitcoin market.

A significant turning point occurred on the 23rd of April when Bitcoin reclaimed the $90,000 level, eventually breaking past $100,000 on the 8th of May for the first time since the 1st of February. The current inflow streak has already doubled IBIT’s previous 2025 record, a nine-day run around President Donald Trump’s inauguration in January, signaling stronger, more sustained conviction among institutional players.

Adding to this momentum, sovereign interest in Bitcoin is also intensifying. Global entities are increasingly exploring Bitcoin’s potential as a strategic asset. Michael Bucella of Neoclassic Capital highlighted Bitcoin’s resilience and growing relevance in broader macro discussions, noting that nations, including the UAE, are buying Bitcoin as a reserve asset. This shift underscores how Bitcoin’s adoption narrative has gained remarkable momentum, particularly in the context of recent political events.

Rifad Mahasneh, CEO of OKX MENA, echoed similar sentiments, emphasizing how sovereign wealth funds are accelerating their engagement with digital assets. He noted that many of the world’s leading sovereign funds are evaluating entry into the crypto space in a regulated and risk-controlled manner. This strategic adoption by nations further solidifies Bitcoin’s position as a core pillar in global financial conversations.

As Bitcoin continues to break records, the implications for institutional investment and global finance are profound. With a shifting geopolitical landscape and increasing recognition of cryptocurrency’s value, the outlook for Bitcoin appears robust. It is crucial for investors to remain informed as these dynamics evolve, especially with significant players like BlackRock leading the charge. The growing institutional adoption and rising market value of Bitcoin suggest that it is no longer a fringe asset but a key component of the global financial system.