Bitcoin surged closer to its all-time high on Monday, powered by a wave of institutional developments, including announcements from JPMorgan Chase, major corporate buyers, and growing international interest led by Ukraine.
At JPMorgan’s investor day on May 19, CEO Jamie Dimon revealed that while the bank would not directly hold Bitcoin, it will soon offer clients the option to purchase it through their investment accounts. “We are going to allow you to buy it,” Dimon stated, noting that Bitcoin will now appear in client statements, though the bank itself will not act as custodian.
Despite expressing long-standing doubts about cryptocurrencies, including concerns over illicit use, Dimon acknowledged his support for clients’ freedom to invest. The move marks a significant shift in JPMorgan’s approach, expanding client access to Bitcoin via exchange-traded funds (ETFs).
Rival financial institutions have already made strides in this area. Morgan Stanley, for example, began offering spot Bitcoin ETFs to qualified investors earlier this year, contributing to a nationwide surge in demand. Since their launch in January 2024, U.S.-based Bitcoin ETFs have seen total inflows nearing $42 billion.
Massive Bitcoin Acquisitions by Strategy and Metaplanet
Adding to Bitcoin’s momentum, U.S. tech firm Strategy, founded by Michael Saylor, announced the purchase of 7,390 Bitcoin, raising its total holdings to 576,230 BTC. Acquired for around $40 billion at an average price under $70,000, these assets are now worth over $60 billion, yielding the firm an unrealized profit exceeding $19 billion.
Meanwhile, Metaplanet, Asia’s largest corporate Bitcoin holder, revealed the acquisition of 1,004 more BTC. Its total holdings now exceed 7,800 BTC, valued at over $800 million. The company attributed nearly 90% of its record-breaking quarterly revenue to its Bitcoin strategy, signaling how deeply crypto is becoming embedded in corporate treasury practices.
Ukraine Plans National Bitcoin Reserve
In a significant geopolitical development, Ukraine is preparing legislation to establish a national Bitcoin reserve. The initiative, still in early stages, is being developed with input from major crypto exchange Binance. If adopted, Ukraine could join countries like El Salvador in integrating Bitcoin into sovereign strategy, which may enhance regulatory clarity and investor trust.
Global Businesses Turn to Bitcoin Reserves
Cross-border e-commerce firm DDC Enterprise Ltd. announced plans to adopt Bitcoin as part of its treasury strategy. CEO Norma Chu revealed the company has already purchased 100 BTC and intends to accumulate up to 5,000 BTC over the next three years. The move signals growing confidence in Bitcoin as a hedge and long-term store of value.
According to analytics firm Ecoinometrics, capital tends to shift into perceived safe-haven assets—like gold and Bitcoin—during global uncertainty. This trend is reflected in recent data from CryptoQuant, showing sustained inflows into Bitcoin and accumulation by large holders.
In fact, wallets holding over 1,000 BTC have collectively increased their positions by more than 122,000 BTC in just the last 10 days. Among major funds, BlackRock’s ETF stands out as the only one increasing exposure during this period, adding over 10,300 BTC to reach a total of 631,902 BTC—a 1.66% rise.
Outlook
With Bitcoin recently pushing above $105,000, analysts suggest the next price target could be around $107,757, with further gains potentially setting new all-time records. As institutional participation deepens and sovereign interest grows, Bitcoin’s role as a mainstream financial asset appears increasingly cemented.
