According to CoinMarketCap data, Amazon currently holds a market cap of $2.135 trillion, which Bitcoin surpassed by approximately $70 billion.

Experts: “Bitcoin is becoming a benchmark currency”

Crypto researcher Alex Obchakevich noted, “Surpassing Amazon in terms of market cap has drawn the attention of non-crypto investors to Bitcoin.” He added that this rally would encourage new capital inflows into the crypto market. Bitcoin’s surge above $110,000, setting a new all-time high, is expected to draw large institutional investors.

Obchakevich also highlighted the growing influence of institutional players in the crypto space:

“In May, BlackRock became the second-largest Bitcoin holder after Satoshi Nakamoto, overtaking Binance.”

Hassan Khan, CEO of Bitcoin liquidity platform Ordeez, commented:

“This is a structural shift. Bitcoin is no longer just a hedge—it’s becoming a benchmark currency.”

Crypto Market Approaches New Highs

The total cryptocurrency market capitalization currently stands at $3.49 trillion, about 6% below the $3.71 trillion all-time high reached in late 2024.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Bitcoin ETFs recorded nearly $604 million in net inflows on May 21. Current open interest in crypto derivatives is also significant:

• Perpetual swaps: $756.16 billion
• Futures: $3.24 billion

Obchakevich shared a bullish outlook:

“We are gradually moving toward $200,000. I believe we’ll see $90,000 and then $150,000 within this year.”

Khan reinforced the institutional perspective:

“Large ETF inflows and rising open interest reflect growing institutional confidence. While short-term profit-taking and macroeconomic uncertainty are slowing momentum, underlying indicators still show strong conviction.”

Bitcoin Pizza Day: From 10,000 BTC to $1.1 Billion

Today also marks Bitcoin Pizza Day, which commemorates May 22, 2010—when developer Laszlo Hanyecz made the first known purchase using Bitcoin: two Papa John’s pizzas for 10,000 BTC. At the time, that was worth less than $40. Today, it would be worth over $1.1 billion.

Ulli Spankowski, Chief Digital Officer at Boerse Stuttgart Group, commented:

“What was once a highly speculative asset has evolved into a serious asset class.” He added that Bitcoin, with a market cap over $2 trillion, is now the fifth-largest asset globally, following gold and the three largest publicly traded companies.

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What is Bitcoin Pizza Day? 

On May 22, 2010, Laszlo Hanyecz purchased two pizzas for 10,000 BTC. At the time, these BTC were worth just $40. However, today, that amount exceeds $1 billion. In 2025, BTC prices reached as high as $111,800, highlighting its remarkable value increase. 

Key Milestones in Bitcoin’s History 

1. BTC Inception (2009) 
   The first BTC block was mined, marking the start of the decentralized digital currency era. 
2. BTC Reaches $1 (2011) 
   BTC hit a value of $1 for the first time, beginning to attract attention. 
3. Mt. Gox Hack (2014) 
   The world’s largest Bitcoin exchange, Mt. Gox, was hacked, losing approximately $450 million worth of BTC and subsequently declaring bankruptcy. This event was a major wake-up call for crypto security. 
4. BTC Surge to $20,000 and Beyond (2017) 
   BTC soared to $20,000 by the end of 2017. However, it later plummeted to $3,200 within the year, serving as a significant warning for investors. 
5. Rise of Institutional Investments (2020-2021) 
   Major companies like Tesla and MicroStrategy began purchasing BTC, signaling its acceptance in the corporate world. 
6. Taproot Upgrade (2024) 
   The Bitcoin network implemented the Taproot upgrade, enhancing privacy and transaction speed. This development showcased Bitcoin’s technological advancement. 

Bitcoin Pizza Day represents the first real-world use of BTC. Additionally, events like the Mt. Gox hack and the 2017 price crash are critical milestones in BTC journey. These developments demonstrate that BTC continues to grow in the financial world. In 2015, the Bitcoin network was introduced to the Lightning Network concept, aiming to enable microtransactions and improve scalability. In 2021, El Salvador became the first country to adopt BTC as legal tender, marking a historic state-level adoption. In 2022, the use of cryptocurrencies expanded with NFT and DeFi projects. In 2023, several countries began testing central bank digital currencies (CBDCs). All these developments prove that BTC is not just an investment vehicle but a global digital financial system.

15 years ago, Laszlo Hanyecz, a Floridian programmer, bought 2 Papa John's pizzas for 10,000 $BTC. Today, those pizzas would be valued at over $1.07B today.

Happy #Bitcoin Pizza Day, everyone! pic.twitter.com/H7oeBTEIJM

— CoinGecko (@coingecko) May 22, 2025

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May 19, Monday 

• Coinbase was included in the S&P 500 index on May 19, 2025. 
• Eurozone annual inflation rate announced at 2.2%.
  (Expected: 2.2%, Previous: 2.2%) 

May 20, Tuesday 

• Pyth Network (PYTH) unlock event to take place.
  Unlocked amount: 2.13 billion tokens
  Value: $333.86 million
  Market cap ratio: 58.3% 

May 21, Wednesday 

• Solana (SOL) developer conference. New ecosystem projects or partnerships may support SOL price. 
• S&P Global Manufacturing and Services PMI Preliminary Data (May 2025). These figures will reflect economic activity in the US. Manufacturing PMI is expected to rise from 50.2 to 50.5, Services PMI from 50.8 to 51.0. 

May 22, Thursday 

• Bitcoin Pizza Day event. 
• Gala dinner hosted by US President Donald Trump, exclusively for the largest 220 $TRUMP coin holders. 
• 12:30 (UTC): US Unemployment Claims. (Expected: 227k, Previous: 229k). 

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The post Economic Calendar and Important Developments This Week  appeared first on Coin Engineer.

Historical Context

Bitcoin Pizza Day honors a turning point in the annals of cryptocurrencies. Programmer Laszlo Hanyecz created history on May 22, 2010, when he paid 10,000 bitcoins (BTC) for two pizzas. These bitcoins were worth about thirty bucks at the time. As of right now, the 10,000 bitcoins are valued at an astounding $697.110.000. Widely considered a ground-breaking example of how Bitcoin might be used for actual, physical transactions, this transaction aroused a great deal of attention and excitement in the still-developing cryptocurrency space.

Significance of Bitcoin Pizza Day

It is more than just a historical coincidence that Bitcoin Pizza Day is important. Today is a sobering reminder of Bitcoin’s modest origins and incredible ascent to become a widely used financial tool. The transaction demonstrated the usefulness of Bitcoin as a means of exchange, therefore confirming its promise to both early adopters and detractors.

Celebrated as well are the advancements in blockchain technology on Bitcoin Pizza Day. It highlights both the expansion of the Bitcoin community and the technical developments that have made adoption more widespread and accessibility better. This day serves as a reminder of how innovation and continual work are needed to improve the usability and functionality of bitcoin systems.

Every year on 22 May, when we bite into our pizza slices, we remember bitcoin’s journey to become a groundbreaking financial technology and the opportunities it offers us.

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