On May 22, widely recognized in the crypto community as Bitcoin Pizza Day, Bitcoin made headlines by surpassing the market capitalization of retail giant Amazon.
According to market figures, Bitcoin’s valuation climbed to $2.205 trillion, outpacing Amazon’s $2.135 trillion by around $70 billion. This comes as Bitcoin soared past the $110,000 mark, setting a new all-time high.
“Crossing Amazon in market cap has sparked renewed interest from outside the crypto bubble,” said Alex Obchakevich, founder of Obchakevich Research. He believes this price surge is likely to enhance confidence in Bitcoin and prompt fresh capital inflows.
Obchakevich also emphasized the growing influence of institutional investors, stating:
“In May, BlackRock overtook Binance to become the second-largest holder of Bitcoin after Satoshi Nakamoto.”
Hassan Khan, CEO of liquidity platform Ordeez, referred to this as a “structural shift” in the role Bitcoin plays, noting:
“Bitcoin is evolving beyond a hedge—it’s beginning to establish itself as a financial benchmark.”
This view is shared by Shruti Kohli, head of global business development at Bitrue, who commented that the milestone is a powerful indicator for the broader digital economy:
“Bitcoin is cementing its status as a legitimate macro asset. Surpassing Amazon’s valuation places it among the world’s top market players.”
However, not everyone sees this as a game-changer. Stan Low, who leads research at hybrid exchange GRVT, pointed out that Bitcoin’s fundamentals remain unchanged:
“The underlying mechanics of Bitcoin haven’t shifted just because it passed Amazon in market value. This doesn’t necessarily reshape the crypto landscape.”
Crypto Market Edges Toward Historic Highs
As per data from CoinMarketCap, the total market capitalization of cryptocurrencies is currently around $3.49 trillion, still roughly 6% below the late-2024 peak of $3.71 trillion.
Meanwhile, Bitcoin ETFs drew in approximately $604 million in net inflows on May 21. The combined open interest for crypto derivatives stands at $756.16 billion for perpetual contracts and $3.24 billion for futures.
Looking ahead, Obchakevich predicted a continued upward trend:
“We’re heading slowly but surely toward $200,000. I expect to see Bitcoin reach both $90,000 and $150,000 within this year.”
Khan echoed this optimism, though with some caution:
“While short-term uncertainty and profit-taking may slow the climb, underlying metrics suggest institutional conviction is stronger than ever. The foundation now is more solid than any previous cycle.”
A Historic Day for Bitcoin
May 22 marks the anniversary of Bitcoin Pizza Day, commemorating the first known purchase made with Bitcoin in 2010, when Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas—an event that has become a symbol of the cryptocurrency’s journey from obscurity to global relevance.
Commenting on Bitcoin’s evolution, Ulli Spankowski, Chief Digital Officer at Boerse Stuttgart Group, noted:
“What began as a speculative gamble has matured into a serious financial asset. Today, Bitcoin ranks as the fifth-largest asset globally, trailing only gold and the top three public companies, with a market cap exceeding $2 trillion.”
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
