The market cap of the world’s first cryptocurrency, Bitcoin, has surpassed that of retail and tech giant Amazon on what is celebrated as “Bitcoin Pizza Day.” Market data reveals that Bitcoin (BTC) has achieved a market cap of $2.205 trillion, exceeding Amazon’s valuation of $2.135 trillion by $70 billion.
According to Alex Obchakevich, founder of Obchakevich Research, this milestone is indicative of Bitcoin’s growing appeal beyond the crypto audience. He remarked, “By surpassing Amazon in terms of capitalization, Bitcoin has attracted even more attention from the non-crypto audience.” This recent surge in value coincides with Bitcoin’s achievement of a new all-time high, now trading above $110,000. Obchakevich suggests that this surge will bolster confidence in Bitcoin, likely leading to further investments in the cryptocurrency market.
Institutional interest in Bitcoin continues to grow, as highlighted by Obchakevich’s observation that major entities like BlackRock have emerged as key players in the digital asset space. He noted, “In May, BlackRock became the second largest bitcoin holder after Satoshi Nakamoto, surpassing Binance.”
Hassan Khan, CEO of Bitcoin liquidity platform Ordeez, remarked, “This is a structural change,” explaining that “Bitcoin is no longer simply a hedge; it’s in the process of becoming a benchmark currency.”
The Crypto Market Approaches New Highs
Data from CoinMarketCap indicates that the total cryptocurrency market cap stands at $3.49 trillion, though this is still approximately 6% lower than the previous all-time high of $3.71 trillion recorded at the end of 2024. Additionally, recent figures show that Bitcoin exchange-traded funds (ETFs) experienced nearly $604 million of net inflows. The current open interest on crypto derivatives is reported at $756.16 billion for perpetual swaps and $3.24 billion for futures.
Looking ahead, Obchakevich projects, “We 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.”
Khan added that substantial inflows to ETFs alongside increased open interest signify growing institutional confidence. He stated, “Short-term profit-taking and macro-rate uncertainty are tempering momentum. But below-the-surface metrics point to continued high conviction. The foundation is more solid than in any other cycle before it.”
Celebrating Bitcoin Pizza Day
May 22 marks a special occasion in the cryptocurrency world known as “Bitcoin Pizza Day.” This day commemorates the landmark event from May 22, 2010, when programmer Laszlo Hanyecz made the first documented purchase of goods using Bitcoin, paying 10,000 BTC for two pizzas from Papa John’s.
Ulli Spankowski, chief digital officer at Boerse Stuttgart Group, noted, “What was once considered a highly speculative risk has evolved into a serious asset class.” He further asserted that Bitcoin, boasting a market capitalization exceeding $2 trillion, currently ranks as the fifth-largest asset in the world, trailing only gold and the three largest publicly traded companies.
