In an electrifying twist of fate, Bitcoin has stolen the spotlight from Amazon, surpassing the retail giant’s market cap on a day brimming with historical significance for the crypto community—Bitcoin Pizza Day. As of today, May 22, 2025, Bitcoin’s market cap has soared to $2.205 trillion, outpacing Amazon’s $2.135 trillion valuation. This milestone coincides with Bitcoin reaching new all-time highs, trading above an eye-popping $110,000 per coin.
Bitcoin: The New Benchmark?
The unprecedented surge in Bitcoin’s value has not only captivated the crypto-savvy but also piqued the interest of the wider financial world. “By surpassing Amazon in terms of capitalization, Bitcoin has attracted even more attention from the non-crypto audience,” remarked Alex Obchakevich, founder of Obchakevich Research. He continued, “This rally will strengthen confidence in Bitcoin and lead to new injections into the crypto market.” As explored in our recent coverage of Bitcoin’s surge past $94,000, institutional interest and market optimism have been key drivers of this upward momentum.
It’s not just the retail investors who are taking notice. Institutional giants are making significant moves. “In May, BlackRock became the second-largest bitcoin holder after Satoshi Nakamoto, surpassing Binance in this indicator,” Obchakevich noted, underscoring the growing institutional appetite for digital assets.
Hassan Khan, CEO of Bitcoin liquidity platform Ordeez, added another layer of insight, stating, “This is a structural change. Bitcoin is no longer simply a hedge; it’s in the process of becoming a benchmark currency.” His comments reflect a broader shift in perception, as Bitcoin continues to mature into a staple of modern finance. This follows a pattern of institutional adoption, which we detailed in our analysis of Bitcoin surpassing $95K amid resilient U.S. stocks.
Institutional Appetite and Market Dynamics
Bitcoin’s leap ahead of Amazon comes amidst a thriving crypto ecosystem. According to CoinMarketCap, the total cryptocurrency market cap currently stands at $3.49 trillion. While this figure is slightly below the all-time high of $3.71 trillion reached at the close of 2024, it still represents a robust market environment.
The flow of capital into Bitcoin exchange-traded funds (ETFs) has been particularly telling. CoinMarketCap data reveals that nearly $604 million of net inflows were recorded on May 21 alone, signaling a deepening institutional confidence. Khan elaborated, “Large net inflows to ETFs and increasing open interest demonstrate that institutional confidence is growing.”
Yet, the road ahead is not without its bumps. “Short-term profit-taking and macro rate uncertainty are tempering momentum,” Khan cautioned. However, he remains optimistic, pointing to “below-the-surface metrics” that suggest a resilient foundation for Bitcoin’s future trajectory.
A Day for Reflection and Anticipation
Today, as the crypto community celebrates Bitcoin Pizza Day, the significance of Bitcoin’s ascent feels particularly poignant. Fifteen years ago, on May 22, 2010, programmer Laszlo Hanyecz made history by using Bitcoin to purchase two pizzas—a transaction that now stands as a testament to Bitcoin’s journey from novelty to legitimacy.
“What was once considered a highly speculative risk has evolved into a serious asset class,” noted Ulli Spankowski, chief digital officer at Boerse Stuttgart Group. Today, Bitcoin’s market capitalization ranks it as the fifth-largest asset globally, trailing only gold and the three largest publicly traded companies.
Looking forward, the future seems ripe with possibilities. Obchakevich expressed a bullish outlook, suggesting, “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.”
As Bitcoin continues to chart new territory, it raises questions about the sustainability of its growth and the broader implications for the financial landscape. With institutional interest on the rise and market dynamics evolving rapidly, the narrative of Bitcoin is far from over. What remains to be seen is how this digital asset will navigate its expanding role in the world of finance.
Source
This article is based on: Bitcoin tops Amazon market cap on ‘Pizza Day’ as price sets new highs
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
