Bitcoin’s Market Cap Surpasses Amazon on “Pizza Day”
In a notable milestone for the crypto world, Bitcoin’s market capitalization has exceeded that of Amazon, the well-known e-commerce and tech giant. This occurred on “Bitcoin Pizza Day,” adding extra significance to the event. Bitcoin’s rise reflects growing confidence and interest in the cryptocurrency market.
Bitcoin Overtakes Amazon in Market Valuation
Market data indicates that Bitcoin (BTC) reached a market cap of $2.205 trillion, surpassing Amazon’s valuation of $2.135 trillion by $70 billion. This achievement has drawn considerable attention, even from those outside the crypto sphere. According to Alex Obchakevich, founder of Obchakevich Research, this surge is expected to boost confidence in Bitcoin and attract further investment into the crypto market.
Bitcoin recently hit a new all-time high, trading above $110,000. Obchakevich believes this will attract new investors, especially large funds. Institutional players are increasingly influential in the digital asset space, with BlackRock reportedly becoming the second-largest Bitcoin holder after Satoshi Nakamoto, surpassing Binance.
Expert Perspectives on Bitcoin’s Trajectory
Hassan Khan, CEO of Bitcoin liquidity platform Ordeez, views this as a “structural change,” suggesting Bitcoin is evolving into a benchmark currency rather than just a hedge. As reported by Cointelegraph, the total cryptocurrency market cap was $3.49 trillion, slightly below the all-time high of $3.71 trillion recorded at the end of 2024, according to CoinMarketCap data.
Bitcoin ETFs experienced nearly $604 million in net inflows on May 21. The open interest on crypto derivatives is substantial, with $756.16 billion in perpetual swaps and $3.24 billion in futures. Obchakevich anticipates a gradual climb towards $200,000, predicting Bitcoin will reach $150,000 and then adjust to $90,000 this year.
Khan noted that significant ETF inflows and rising open interest indicate growing institutional confidence. He added that while short-term profit-taking and macro rate uncertainty may temper momentum, underlying metrics suggest continued strong conviction in Bitcoin. This foundation appears more robust than in previous cycles.
Bitcoin Pizza Day
May 22 is celebrated as “Bitcoin Pizza Day,” commemorating the first documented purchase of goods using Bitcoin in 2010. Programmer Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas, a transaction that highlights Bitcoin’s evolution.
Ulli Spankowski, chief digital officer at Boerse Stuttgart Group, noted that Bitcoin has transformed from a speculative risk to a serious asset class. With a market capitalization exceeding $2 trillion, Bitcoin ranks as the fifth-largest asset globally, trailing only gold and the three largest publicly traded companies.
Conclusion
Bitcoin’s surpassing of Amazon’s market cap on “Pizza Day” marks a significant milestone, underscoring the cryptocurrency’s growing acceptance and influence. As institutional interest rises and market dynamics evolve, Bitcoin’s future trajectory remains a focal point for investors and enthusiasts alike. The rise of Bitcoin and other cryptocurrencies also brings the need for clear crypto regulation.
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Disclaimer
The information provided in this article is for informational purposes only and does not constitute financial advice. All news content is sourced from trusted platforms like Cointelegraph, Bitcoinist, and our own writers written with added value, editorial insights and reviews by our team. Always do your own research before making any investment decisions.
