In a surprising turn of events, Bitcoin has surged to an impressive $95,000, yet this rise has not been accompanied by an increase in Google search queries. Hunter Horsley, the CEO of Bitwise, pointed out that this anomaly suggests the recent price spike is not being driven by retail investors but rather by a significant influx of institutional players, advisors, corporations, and even some governments entering the market.
Horsley highlighted a shift in the investor demographic for Bitcoin, indicating a broader transformation in the market's nature and dynamics. According to Bitcoin treasury data, public companies collectively own approximately 705,373 Bitcoins, which accounts for about 3.35% of the total Bitcoin supply. Among these companies, MicroStrategy, now known as "Strategic," was one of the earliest adopters of Bitcoin, paving the way for others like Japan's MetaPlanet and the American company Semler Scientific, which specializes in medical technology.
On the government front, data reveals that countries collectively hold 529,705 Bitcoins, representing around 2.52% of the total supply. The United States leads with approximately 207,189 Bitcoins, followed by China with 194,000, the United Kingdom with 61,000, Ukraine with 46,351, Bhutan with 13,029, and El Salvador with 6,089 Bitcoins.
Horsley expressed optimistic forecasts for the future of Bitcoin, predicting that its market value could reach a staggering $50 trillion. He views Bitcoin not only as a digital monetary asset but also as one that surpasses traditional comparisons with gold, entering the realm of major monetary assets like treasury bonds and the US dollar.
In a related perspective, Charles Edwards, founder of the quantitative hedge fund Capriole Investments, noted that the value of Bitcoin's energy has exceeded $130,000 this April. This suggests that Bitcoin is currently trading at about 40% below its fair value. Edwards views this discount, while potentially widening, as a rare opportunity following the mining reward halving event, which he considers a welcome sight for the market.
Meanwhile, in the Egyptian financial landscape, the exchange rate of the US dollar has shown notable fluctuations. As of April 29, 2025, the Central Bank has reported a stable exchange rate against the Egyptian pound, amidst ongoing discussions during the quarterly meetings of the Central Bank and international banks. The bank has revised its expectations for the average exchange rate of the Egyptian pound against the dollar for the fiscal year 2024-2025, now estimating it to be around 49.9 pounds to the dollar, a slight adjustment from earlier predictions of 50.6 pounds.
This change reflects a moderately optimistic view of the local currency's performance in light of improving economic indicators and strategic decisions made by the Egyptian government in collaboration with international financial institutions aimed at stabilizing the exchange market.
In a further adjustment, the Central Bank has also lowered its expectations for the dollar's exchange rate against the Egyptian pound for the fiscal year 2025-2026, estimating it at approximately 52.3 pounds, down from previous estimates of 54.9 pounds. This adjustment indicates a more favorable outlook for the local currency as economic indicators show gradual improvement.
The report also anticipates an increase in real GDP growth from 2.4% in 2024 to 3.8% in 2025, reaching 4.3% by 2026. This projected growth is attributed to the economic reforms being implemented by the government along with efforts to enhance the investment climate and improve the business environment.
As for the current exchange rates, the dollar has stabilized against the Egyptian pound at the beginning of daily transactions on April 29, 2025. This stability follows a recent decline observed in several banks. The latest exchange rates from various banks are as follows: Banque Misr reports 50.78 pounds for buying and 50.88 pounds for selling; the National Bank of Egypt lists the same rates; Bank of Alexandria also matches these figures; and the Commercial International Bank (CIB) aligns with the others at 50.78 pounds for buying and 50.88 pounds for selling.
In summary, the financial landscape for both Bitcoin and the Egyptian pound is undergoing significant transformations. While Bitcoin sees a surge in institutional interest, the Egyptian economy is cautiously optimistic about its currency's stability and growth potential. Investors and analysts alike are watching these developments closely, as they may signal broader trends in the global financial market.
