The cryptocurrency market is witnessing a surge of institutional interest, with key milestones and data highlighting the growing impact of Bitcoin across various sectors. Notably, Bitcoin has recently surpassed $100,000, fueled by the influx of capital into BlackRock’s Bitcoin ETF (IBIT), which has seen consistent inflows exceeding $356 million in recent weeks. This robust investment reflects a bullish sentiment amongst large-scale investors as Bitcoin continues its upward trajectory. 2023 has been marked by impressive gains for the asset, with a pivotal turning point occurring on April 23rd when it reclaimed the $90,000 level and subsequently broke past $100,000 on May 8th, marking a new all-time high. This trend of growth has led to significant investment in IBIT, which has seen record inflows since early 2023. This shift marks a major development for Bitcoin as global investors are increasingly viewing it as a potential reserve asset alongside traditional assets like gold and equities. The momentum has been furthered by the UAE’s sovereign wealth funds, with notable figures such as Michael Bucella from Neoclassic Capital advocating for Bitcoin’s resilience and its increasing relevance within broader financial discussions. Similarly, CEO of OKX MENA Rifad Mahasneh emphasizes that many sovereign wealth funds are proactively exploring ways to integrate cryptocurrencies into their portfolios, focusing on creating a secure and regulated entry point. This growing interest is shaping the global financial landscape and solidifying Bitcoin’s position as a critical focus for market analysts and investors alike.