The short-term unrealized gains have just exceeded 10%, with only 2% of positions currently at a loss, indicating that the market is in a very safe state.

On May 12th, Binance CEO Richard Teng stated in a post on X platform: "Against the backdrop of global economic uncertainty, Bitcoin remains the flagship cryptocurrency asset and a resilient store of value. With the adoption of institutional investors, it is expected that Bitcoin will play a more important role as a hedge tool and digital gold in diversified investment portfolios."

On May 12th, Tokyo-listed company Beat Holdings announced that it will increase the upper limit of its Bitcoin-related investments from $6.8 million to $34 million. The company has purchased 131,230 units of BlackRock's iShares Bitcoin Trust (IBIT) at an average purchase price of $49.49 per unit. As of May 9th, the unrealized gain on the holdings has exceeded $681,000. To support further investments, Beat Holdings has withdrawn $2.8 million from its revolving credit line, with an expected interest of approximately $150,000 generated within the year.

While the top Democrat on the Senate Banking Committee argues for stablecoin limits, she and colleagues also questioned Binance's talks with Treasury.

Investors are quickly changing their perspectives on crypto now that altcoins have departed from a negative trend and found buying pressure from a renewed risk-on sentiment, one analyst said.

"Many things discussed, much agreed to," said President Trump of today's trade negotiations with China.

The country continues to acquire more Bitcoin for its strategic reserve and has embraced technical innovation to fuel economic growth.

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Last-minute Democrat objections led to a failed vote to move into debate on a top crypto industry legislative priority to regulate dollar-based tokens.