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.

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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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