Big and exciting developments are taking place in the Bitcoin (BTC -3.69%) space, capturing immense capital, attention, and adoption.
In terms of price, the world’s largest cryptocurrency, with a market cap of over $2 trillion, is taking a breather above $100,000. Just last month, BTC price hit a new all-time high (ATH) at almost $112,000.
The Cumulative Volume Delta (CBD) Heatmap, which is a tool to track the net difference between aggressive buying and selling across price levels, shows that this Bitcoin rally has been largely spot-led, with $81-85k, $93-96k, and $102-104k being clear accumulation clusters.
Since the fresh highs, BTC price has been consolidating as many have taken profit. As crypto data provider Glassnode noted, the drop from ATH comes after long-term holders, who bought BTC during important historical ranges, i.e., $25k-31k and $60k-73k, engaged in profit-taking.
Amidst this price action, the sector is gaining legislative clarity through the GENIUS Act, which will remove regulatory uncertainty, and institutions continue to pour in hundreds of millions of dollars into BTC daily via ETFs.
The approval of spot exchange-traded funds (ETFs) actually validated Bitcoin’s role as a legitimate asset class, which has become a popular choice as a protection against inflation and macro uncertainty.
Even JPMorgan Chase couldn’t stay away and is now providing financing against Bitcoin ETFs. The banking giant accepting ETFs as collateral for loans is expected to trigger a massive wave of crypto-backed lending on Wall Street.
All this development has analysts and market experts seeing a path to $500,000 per BTC in the next few years, with even a million-dollar target making its way into the predictions.
While regulatory clarity, heightened adoption by corporate giants, and unprecedented institutional investments are key to this trajectory, there’s another extremely critical factor that’s behind the ongoing and upcoming wave of market momentum. And that is governments embracing BTC as a strategic reserve asset.
America Launches Strategic Bitcoin Reserve: A Bold First Move
In March, the United States made a big move when President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve. This national stockpile of Bitcoin puts the digital currency essentially in the same role as gold, foreign currencies, and other assets in the U.S. reserve.
Signing an executive order bypasses congressional debate, but it’s yet to be decided just how this “virtual Fort Knox for digital gold”, as described by Trump, will be funded.
One aspect of it is clear: the federal government will use what it already owns. Data shows that Bitcoin scooped up from scams, stolen funds, dark net markets, and other criminal activities amounts to about $22 billion (200,000 BTC).
In addition to these holdings, Trump has directed the Treasury Secretary and Commerce Secretary to develop budget-neutral strategies for acquiring more BTC, provided they have no incremental costs to American taxpayers.
According to White House crypto czar David Sacks, during a fireside chat at the Bitcoin 2025 conference:
“The executive order establishing the Strategic Bitcoin Reserve does allow the government to purchase more if it can be done in a budget-neutral way. Specifically, if either the Commerce Department or the Treasury Department can figure out how to fund it without adding to the debt, then they are allowed to create those programs.”
The key is to figure out how to fund the purchase without a new tax burden or adding to the debt. According to Sacks, the government can use surplus money from its other programs to fund these Bitcoin acquisitions.
It has been speculated that budget-neutral strategies could also include selling gold holdings or special drawing rights issued by the International Monetary Fund (IMF).
While that’s to be decided, Trump advancing the Bitcoin reserve has state lawmakers attempting to do the same as well. Arizona and New Hampshire’s governors have already signed bills to pave the way for state crypto reserves, while the likes of Florida, Oklahoma, and Wyoming have had similar bills either rejected or postponed.
By embracing a strategic Bitcoin reserve, the US is also encouraging other nations to make a similar move, adopting BTC as a reserve asset alongside gold and foreign currency.
Global Bitcoin Ripple Effect: More Nations Stockpiling BTC
While the fever of Bitcoin accumulation has started to spread in other countries following the big move by the US, this approach was pioneered by El Salvador when it made Bitcoin legal tender in 2021 and stockpiled a treasury of about 6,150 BTC.
Then there’s the case of Bhutan. In 2023, it was revealed that the country’s sovereign investment fund had been amassing Bitcoin, although Bhutan had been involved in mining Bitcoin since 2019.
A few other countries are also holding Bitcoin, but that hasn’t been intentional per se; rather, it came from seizures. This includes China, the UK, and Ukraine. Germany was also part of these countries until it fully liquidated its holdings in mid-2024.
While these holdings were simply a byproduct of enforcement, the tide is changing, and nation-states are now making deliberate Bitcoin reserve strategies.
For instance, lawmakers in Russia have urged their central bank to consider BTC for reserves as a hedge against sanctions. However, the government, for now, is choosing to maintain a traditional reserve structure dominated by gold and the Chinese yuan, allowing assets to be sold quickly and without a large price revaluation.
Brazil, Argentina, and Japan are among nations where sovereign BTC reserves are being considered, though they are still in the early stages, with only proposals made so far. Amidst this, Pakistan has shared its interest in stockpiling Bitcoin.
On May 28, while speaking at the recent Bitcoin 2025 conference, Bilal Bin Saqib, the head of the country’s crypto council, announced that Pakistan is following in the footsteps of the US and establishing a strategic BTC reserve.
“Today is a very historic day. Today, I announce the Pakistani government is setting up its own government-led Bitcoin Strategic Reserve, and we want to thank the United States of America again because we were inspired by them.”
– Saqib told the audience at the conference
The Pakistan government is also in support of adopting crypto-friendly policies, he said. This move represents a significant pivot from the government’s previous stance on cryptocurrencies, per which, crypto is considered illegal in the country.
However, a similar shift was observed when President Trump fully endorsed crypto ahead of his second term, following his 2021 criticism of Bitcoin as a scam.
“I don’t like it because it’s another currency competing against the dollar. I want the dollar to be the currency of the world.”
– Trump
A few years before that, Trump had said that unregulated crypto “can facilitate unlawful behavior, including drug trade and other illegal activity,” only to support regulatory clarity for the industry, making several promises to the community on his 2024 campaign trail, and launching meme coins.
As for Pakistan, its government first explored the idea of a “National Crypto Council” in February of this year to oversee the development of an extensive regulatory framework for crypto and to attract foreign investment.
The council proposed several initiatives, including using surplus energy to power data centers or mine Bitcoin, as well as accumulating BTC for a national treasury. In May 2025, the Council announced the allocation of 2,000 megawatts of excess energy for the purpose of mining Bitcoin and high-performance computing data centers.
In April, leading crypto exchange Binance’s co-founder, Changpeng Zhao, meanwhile, was appointed as one of the Council’s advisers to cover the topics of blockchain infrastructure, digital asset regulations, and crypto adoption. The same month, Trump’s World Liberty Financial (WLFI) signed a letter of intent to help the country experiment with crypto products, tokenize real-world assets, and build DeFi architecture.
More recently, the Ministry of Finance established the Pakistan Digital Asset Authority (PDAA) to serve as a regulatory body, regulating exchanges, issuing licenses, and overseeing wallet custodians, stablecoins, and DeFi applications.
Scarcity and Sovereignty: The Case for Bitcoin as a Reserve Asset
Besides countries, corporations are also actively seeking the safety of Bitcoin to protect as well as boost their capital.
The most prominent name in this category is none other than Michael Saylor’s Strategy (MSTR -2.46%) (formerly MicroStrategy), which has so far amassed 580,955 BTC, which is 2.766% of Bitcoin’s total capped supply.
Strategy first began adding Bitcoin to its balance sheet in 2020, and since then, it has employed various financial instruments, such as convertible bonds and preferred stock, to fund its acquisitions.
When Strategy first began acquiring BTC during the last bull market, only a handful of companies adopted this approach, with Elon Musk’s Tesla (TSLA -14.26%) and Jack Dorsey’s Block (SQ +0.57%) being other popular names taking this route.
However, over the past five years, the number of companies interested in Bitcoin as a store of value has grown significantly. There are now more than sixty publicly listed companies that collectively hold over 3% of the total Bitcoin supply.
“Bitcoin treasuries are adding to Bitcoin buying pressure.”
– Standard Chartered’s global head of digital asset research, Geoff Kendrick, noted in a report
The adoption of Bitcoin by institutions, sovereign wealth funds, state-affiliated institutions, and nation-states is exactly why the investment bank sees the possibility of Bitcoin price surpassing $500,000 before Trump’s second term ends in January 2029. Interestingly, Trump’s media company has also announced its plans to invest in Bitcoin.
Trump Media and Technology Group (DJT -8.04%), which is the operator of Truth Social and Truth.Fi, is reportedly raising $2.5 billion to start a Bitcoin treasury. Eric Trump’s American Bitcoin is also said to be busy “staking sats.”
Now, if you are wondering, just why does everyone want to own a piece of Bitcoin? Well, there are several solid reasons for the same. While the rising price is one factor, it’s the result of Bitcoin’s unmatched security, scarcity, and neutrality that make it so worthwhile.
Unlike traditional fiat currencies, this digital gold only has a maximum total supply of 21 million. This scarcity is built right into Bitcoin’s system.
Also, there is no single entity in control here. No financial institution, geopolitical power, or any other intermediary has control over the Bitcoin network, which removes any single point of failure. Unlike gold, USD, or oil, Bitcoin is decentralized and hence, resistant to destruction, confiscation, or freezing. By leveraging self-custody, Bitcoin holders can continue to access it during geopolitical or economic instability.
Then there’s the fact that this decentralized, trustless network is borderless, extremely robust, and secure, which makes it an attractive choice.
The slow yet predictable design of Bitcoin’s blockchain further makes it highly reliable.
All of these factors together make Bitcoin a powerful asset for governments, institutions, and corporations to secure their financial stability and reinforce economic sovereignty. Hence, the reason why many have taken to accumulating Bitcoin.
That’s not to say that Bitcoin is without any risks. The crypto king is inherently volatile, at least compared to conventional assets, and faces regulatory uncertainties and cybersecurity threats. But these challenges haven’t deterred adoption; in fact, they have prompted more proactive regulatory approaches and technological safeguards.
Pro-Crypto Politics: How Bitcoin Is Influencing Global Elections
Amidst the ongoing Bitcoin accumulation mania, digital assets are now getting their time in the limelight through pro-crypto government officials as well.
Just a few years ago, cryptocurrency was entirely ignored by mainstream politics and actively targeted by regulators. But that’s not the case anymore, as we saw with Trump making a return to the White House with his pro-crypto agenda.
At the Bitcoin conference in Las Vegas, Vice President JD Vance actually praised the crypto community for their quick efforts in organizing and influencing US politics during the November 2024 presidential elections. Vance said the following at the conference:
“You chose to speak up and you chose to get involved, and I believe you changed the direct trajectory of our country because of it.”
He hailed crypto as a hedge against unethical elites, politicians, and regulators while predicting its continued integration into the financial mainstream.
Much like the US, crypto is now being represented at the highest levels of global politics, with pro-crypto presidential candidates in other countries, too.
This can be seen with the recent elections in South Korea, where Lee Jae-myung has been sworn in as president after campaigning with a range of pro-crypto policies.
The decisive victory for Lee saw the center-left Democratic Party candidate winning over 49% of the votes, according to the data from the National Election Commission. What makes this more exciting is that this time around, a massive 80% of South Korea’s 44.4 million eligible voters cast their ballots in what was the highest turnout for a presidential election since 1997.
Lee has promised to “work to restore the economy” from day one through increased investment in AI and defense, to depoliticize the prosecution system, and introduce social changes.
Moreover, he has committed to allowing the launch of Bitcoin ETFs as well as giving the country’s $884 billion national pension fund the green light to invest in Bitcoin and crypto.
Lee also supports a Korean Won-backed stablecoin to put a stop to capital outflows and modernize the nation’s financial system. “We need to establish a won-backed stablecoin market to prevent national wealth from leaking overseas,” he said last month during a policy discussion.
This massive endorsement of crypto from the President sent Bitcoin prices to $108,480 on Bithumb and Upbit. The kimchi premium, meanwhile, had the asset trading about 2% higher than global exchanges.
Notably, Poland has joined a small but growing group of nations led by pro-Bitcoin politicians.
Poland’s new president, Karol Nawrocki, who’ll be inaugurated in August, got only 29.54% of votes in the first round but defeated his opponent, Warsaw mayor Rafał Trzaskowski, by getting 50.89% of the vote in the second round held on June 1st.
The pro-crypto, conservative President is backed by the Trump administration. On his campaign trail, he emphasized people’s right to invest freely.
“More and more people and companies are investing in cryptocurrencies,” Nawrocki said earlier this year. “Poland must be a place where innovations are created, not regulations.” He also promised that under his presidency, “oppressive regulations” on digital assets would not come into force.
Besides these, Argentina is also a country with a pro-crypto president in the form of Javier Milei, who has referred to Bitcoin as a movement toward “the return of money to its original creator, the private sector.”
Then there is Belarusian President Alexander Lukashenko, who has backed policies aimed at supporting cryptocurrency mining. Central African Republic (CAR) President Faustin-Archange Touadéra has also promoted blockchain-related policies and launched an initiative to establish a “legal crypto hub.”
Latest Bitcoin (BTC) News and Developments
The Rise of a Sovereign Store of Value
All this progress shows that Bitcoin has come a long way since its humble beginning when it was just a fringe asset, a niche cryptography experiment. Today, it has created a strong foothold in the domain of global finance and sovereign policy.
Bitcoin isn’t treated like a speculative asset anymore. Both institutions and nations around the world are actually turning to this decentralized, provably scarce, transparent, and neutral asset to hold it as a strategic reserve, much like they do gold.
Overall, Bitcoin has crossed the chasm and is now entering its next phase of mainstream acceptance, marking its evolution into a global, sovereign store of value!
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