April 28, 2025 – Bitcoin is approaching a staggering $94,000, yet public interest, as measured by Google searches for the term “Bitcoin,” remains near historic lows. This intriguing disconnect was highlighted by Hunter Horsley, CEO of Bitwise Asset Management, in a recent post on X, shedding light on the evolving dynamics of the cryptocurrency market.
In his post, Horsley emphasized that the current Bitcoin rally is not fueled by retail investors, as was often the case in past surges, but by institutional heavyweights. “Advisors, corporations, nation-states—these are the players driving this cycle,” Horsley noted. This shift marks a significant departure from the retail-driven frenzies of previous bull runs, suggesting a maturing market increasingly embraced by sophisticated investors.
Horsley sees this as a positive development for Bitcoin’s long-term prospects. “The silver lining is that this rally reflects a broadening of Bitcoin’s investor base,” he wrote, pointing to growing adoption among financial advisors, corporate treasuries, and even governments. This institutional influx comes at a time of heightened global economic uncertainty, including ongoing tariff disputes and geopolitical tensions, which may be prompting larger players to view Bitcoin as a hedge against traditional financial systems.
The Bitwise CEO also underscored Bitcoin’s resilience, describing it as a proven performer during market crises. “Bitcoin has outperformed mainstream investment options when markets falter,” Horsley stated, reinforcing its appeal as a store of value. He further highlighted its growing role on the global stage, noting that nation-states wary of overexposure to U.S. assets are increasingly turning to Bitcoin as a neutral, decentralized alternative.
The lack of retail-driven Google search volume, which typically spikes during Bitcoin price surges, suggests that the current rally is less speculative and more strategic. Horsley’s observations align with recent market trends, including increased allocations to Bitcoin by hedge funds, the launch of Bitcoin exchange-traded funds (ETFs), and public disclosures of corporate Bitcoin holdings by companies like MicroStrategy and Tesla.
As Bitcoin continues its ascent, the cryptocurrency market appears to be entering a new phase of institutional legitimacy. Horsley’s insights point to a future where Bitcoin is not just a retail phenomenon but a cornerstone of global finance, embraced by those seeking stability in an uncertain world.
Source: Hunter Horsley’s post on X, April 2025.
