In the past 24 hours, the crypto market has seen significant developments shaping its future. Bernstein analysts predict that corporations could allocate up to $330 billion to Bitcoin treasuries globally within the next five years, underscoring growing institutional confidence in $BTC
The U.S. House Financial Services Committee unveiled a discussion draft of a new crypto market structure bill, reflecting renewed legislative interest. However, in Florida, Bitcoin Reserve Bills HB 487 and SB 550 failed to pass as the 2025 legislative session closed on May 2. Meanwhile, New Hampshire signed a new law permitting state investment in cryptocurrencies.
On the institutional front, BlackRock’s Bitcoin ETF acquired 5,640 BTC worth $531.2 million on May 5, pushing total inflows to $4.6 billion over just 15 days. Binance founder CZ made headlines with his bold prediction that Bitcoin could hit $500,000 to $1,000,000 this cycle.
Elsewhere, the UK Treasury ruled out holding a national Bitcoin reserve, distancing itself from the U.S. approach. Sol Strategies deployed $20 million to buy over 122,000 SOL tokens, while OpenAI announced it will retain its nonprofit model. Bitcoin also outperformed gold and the S&P 500 last month, highlighting its growing dominance in global markets.