Hunter Horsley, the CEO of Bitwise, revealed that the rise in Bitcoin's price to $95,000 was not accompanied by an increase in Google search indicators, as searches remain close to their historical lows.

He explained that this indicates that the recent rise was not driven by retail investors, but rather resulted from a broader entry of institutions, advisors, companies, and even some countries into the market. Horsley pointed out that the segment of Bitcoin investors is expanding, reflecting a larger shift in the nature and dynamics of the market.

According to data from Bitcoin treasury bonds, public companies hold approximately 705,373 Bitcoins, representing 3.35% of the total Bitcoin supply.

Among the prominent companies, Strategy (formerly known as MicroStrategy) was one of the first to adopt this trend, followed by other companies such as the Japanese Metaplanet and the American Similar Scientific, which specializes in medical technology.

On the country level, data shows that governments collectively own 529,705 Bitcoins, equivalent to 2.52% of the total supply.

The United States leads the list with a holding of 207,189 Bitcoins, followed by China with 194,000 Bitcoins, then the United Kingdom with 61,000 Bitcoins, and Ukraine with 46,351 Bitcoins, while Bhutan holds 13,029 Bitcoins, and El Salvador holds 6,089 Bitcoins.