{"id":129784,"date":"2025-05-22T11:24:11","date_gmt":"2025-05-22T11:24:11","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129784"},"modified":"2025-05-22T11:24:11","modified_gmt":"2025-05-22T11:24:11","slug":"bitcoin-tops-amazon-market-cap-on-pizza-day-as-price-sets-new-highs","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129784","title":{"rendered":"Bitcoin tops Amazon market cap on \u2018Pizza Day\u2019 as price sets new highs"},"content":{"rendered":"

Source: Cointelegraph.com NewsThe market cap of the world\u2019s first cryptocurrency, Bitcoin, surpassed that of retail and tech behemoth Amazon on \u201cBitcoin Pizza Day.\u201d
\nMarket data shows that Bitcoin (BTC) had a market cap of $2.205 trillion at the time of writing, $70 billion more than the $2.135 trillion Amazon valuation.
\n\u201cBy surpassing Amazon in terms of capitalization, Bitcoin has attracted even more attention from the non-crypto audience,\u201d said Alex Obchakevich, founder of Obchakevich Research.
\nObchakevich said the latest rally \u201cwill strengthen confidence in Bitcoin and lead to new injections into the crypto market.\u201d The surge came as Bitcoin set a new all-time high and traded above $110,000, which Obchavich said will \u201cattract new investors to large funds.\u201d
\nObchakevich noted that institutional players continue to expand their role in the digital asset space:
\n\u201cIn May, BlackRock became the second largest bitcoin holder after Satoshi Nakamoto, surpassing Binance in this indicator.\u201d
\nHassan Khan, the CEO of Bitcoin liquidity platform Ordeez, told Cointelegraph that \u201cthis is a structural change.\u201d He explained that \u201cBitcoin is no longer simply a hedge, it\u2019s in the process of becoming a benchmark currency.\u201d
\nRelated: Bitcoin \u2018looks exhausted\u2019 as next bear market yields $69K target
\nThe crypto market approaches new highs
\nAccording to CoinMarketCap data, the total cryptocurrency market cap stood at $3.49 trillion at the time of writing. While high, this is still nearly 6% lower than the all-time high of $3.71 trillion reported at the end of 2024.
\nTotal crypto market cap one-year chart. Source: CoinMarketCapMore CoinMarketCap data shows that Bitcoin exchange-traded funds (ETFs) saw nearly $604 million of net inflows on May 21. The current open interest on crypto derivatives is $756.16 billion for perpetual swaps and $3.24 billion for futures. Looking into the future, Obchakevich shared his view on Bitcoin\u2019s direction:
\n\u201cWe are moving gradually towards $200,000, with gradual adjustments. I am sure that this year we will see Bitcoin at $150,000 and $90,000.\u201c
\nKhan said that \u201clarge net inflows to ETFs and increasing open interest demonstrate that institutional confidence is growing.\u201d Looking forward, he said:
\n\u201cShort term profit taking and macro\u2002rate uncertainty are tempering momentum. But below-the-surface metrics point to continued high conviction. The\u2002foundation is more solid than in any other cycle before it.\u201c
\nRelated: BlackRock\u2019s Bitcoin ETF notches 2-week high inflow as BTC nears $112K
\nToday is a special day for Bitcoin
\nToday, May 22, is \u201cBitcoin Pizza Day,\u201d a recurrence commemorating May 22, 2010, when programmer Laszlo Hanyecz made the first documented purchase of goods using Bitcoin, paying 10,000 BTC for two Papa John\u2019s pizzas.
\n\u201cWhat was once considered a highly speculative risk has evolved into a serious asset class,\u201d said Ulli Spankowski, chief digital officer at Boerse Stuttgart Group.
\nSpankowski added that, nowadays, Bitcoin \u201cboasts a market capitalization of over 2 trillion US dollars, ranking it as the fifth-largest asset globally, behind gold and the three largest publicly traded companies.\u201d
\nMagazine: NBA star Tristan Thompson misses $32B in Bitcoin by taking $82M contract in cashRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsThe market cap of the world\u2019s first cryptocurrency, Bitcoin, surpassed that of retail and tech behemoth Amazon on \u201cBitcoin Pizza Day.\u201d Market data shows that Bitcoin (BTC) had… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129784"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129784"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129784\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129784"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}