This week marked a historic turning point in the crypto landscape, with Bitcoin surging past the $100,000 USD threshold for the first time since January. While price euphoria captured headlines, institutional involvement and regulatory urgency continued to shape the market’s foundation. From bold buys by major firms to political pressure in Australia, the industry’s growing mainstream presence was unmistakable. However, not all was smooth sailing, as controversies in Web3 and regulatory crackdowns served as stark reminders of the sector’s ongoing maturity challenges.

Bitcoin reclaimed a six-figure valuation this week as investor sentiment surged on renewed institutional confidence and policy-driven narratives. A key driver of this momentum was anticipation surrounding the U.S. Strategic Bitcoin Reserve, established by executive order in March to formalise Bitcoin holdings seized through legal proceedings. The U.S. Treasury was expected to deliver a comprehensive assessment on the reserve’s structure and oversight by May 5. Although the report has not yet been publicly released, the renewed focus on sovereign Bitcoin accumulation has reinforced the asset’s emerging role in national monetary strategies and further boosted market enthusiasm.

Japan-based Metaplanet once again signalled its commitment to Bitcoin, adding another 555 BTC to its balance sheet and bringing its total to an eye-catching 5,555 BTC. The timing of this purchase suggests strategic accumulation aligned with the bullish macro trend. Meanwhile, BlackRock’s spot Bitcoin ETF recorded a historic inflow streak, cementing its dominance in the newly legitimised digital asset ETF market. These movements are not isolated. They point to a broader institutional playbook where Bitcoin is no longer a fringe asset but a strategic allocation within diversified portfolios.

In the wake of the Labor Party’s landslide re-election on May 3, Australia’s crypto sector has issued a unified call for immediate legislative action. Despite both major parties campaigning on the promise of crypto reform, only the opposition had committed to drafting laws within 100 days. With the digital asset industry lagging behind international counterparts, stakeholders warn that continued inaction could hinder Australia’s competitiveness. This renewed pressure comes amid global efforts to define clearer rules for digital asset businesses and places the Albanese government at a crossroads: either take the lead in innovation or risk regulatory irrelevance.

Over in Web3, Movement Labs abruptly terminated co-founder Rushi Manche following controversy around a market maker deal involving Rentech and Web3Port. This comes after Coinbase suspended trading of the token last week. In another blow to decentralised ambitions, OpenAI CEO Sam Altman’s Worldcoin project now rebranded as “World” faced regulatory suspension in Indonesia. Local authorities cited violations in the project’s registration process, dealing a setback to its global expansion plans. Together, these developments underscore the complex intersection of decentralisation, trust, and compliance in the evolving dApp landscape.

Bitcoin‘s return above $100K is more than a technical milestone; it reflects the asset’s entrenchment in institutional and national strategies. Yet the backdrop of executive upheavals and policy pressure reminds us that crypto’s journey is far from over. As regulatory frameworks take shape and Web3 players mature, the coming weeks may set the tone for a more structured and resilient crypto ecosystem. Market participants should brace for both opportunity and volatility as innovation and regulation continue to collide.

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• Warren Buffett to Exit Berkshire Hathaway This Year

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• Trump-Backed USD1 Becomes Seventh-Largest Stablecoin

• Coinbase to Acquire Deribit for $2.9 Billion

• CZ Zhao Requests Trump Pardon for Conviction