Analyst Identifies Key Driver of Structural Bitcoin Demand

Corporate demand supports the long-term bullish outlook for the leading cryptocurrency, according to Valentin Fournier, a senior analyst at BRN, as reported by The Block.

He highlighted that a pivotal trigger was the announcement from Semler Scientific, a medtech company, which plans to increase its bitcoin reserves from 4,449 BTC to 100,500 BTC by 2027.

To achieve this, the firm will raise funds through the issuance of convertible notes and stock sales, a strategy previously employed by Strategy and other major players.

Interest from Major Players

Fournier views Semler’s initiative as a significant signal of structural demand, despite the overall market caution. He noted that the company’s market capitalization remains below the value of its bitcoin assets.

According to the analyst, the plan’s execution could increase Semler’s valuation by more than 20 times. This demonstrates the growing corporate interest in digital gold and strengthens the thesis of institutional demand.

However, risks for the firm persist. The U.S. Department of Justice is investigating Semler’s activities since 2017 for potential violations of the False Claims Act related to the QuantaFlo test.

Some experts see systemic threats in the situation, reminiscent of the “boom and bust phase of 2021.” However, Peter Chang, head of research at Presto, believes the current wave of corporate purchases appears more sustainable. According to him, companies are avoiding crypto-backed loans—a practice that previously exacerbated market downturns.

Valentin Fournier concluded that current conditions create a “window for accumulating positions.” He anticipates further market growth as other companies follow Semler’s example.

“Current pessimism is an opportunity to buy ahead of new bullish catalysts,” the analyst summed up.

Market Awaits Volatility Surge

Analysts at QCP Capital noted that bitcoin continues to trade within a narrow range.

The asset’s price remains largely unresponsive to macroeconomic uncertainty and political statements by U.S. President Donald Trump. Investors have adopted a wait-and-see approach, seeking a stronger catalyst for sector movement.

However, the derivatives market indicates trader caution, experts emphasized. Options strategies for bitcoin and Ethereum still point to the popularity of protective tactics in the context of a potential market correction in June and September. Thus, investors with open long positions continue to hedge risks and prepare for a potential downturn.

Implied volatility for June Ethereum options has fallen below September levels. This may reflect the closing of speculative positions or profit-taking.

Earlier, Presto warned of the risks of forming a corporate crypto bubble.