BTC’s milestone arrives amid six consecutive days of ETF inflows and renewed corporate accumulation, 15 years after the asset was first used to buy something physical
Bitcoin hit a new all-time high of nearly $112,000 on May 22 following a 4% daily gain, continuing a surge driven by institutional interest and ETF inflows.
The flagship cryptocurrency has climbed over 17% year-to-date and rebounded 47% from its $75,000 low in April, entering a new price discovery phase.
According to CoinGecko, Bitcoin’s rise has helped lift total crypto market capitalization to $3.6 trillion, still below the $3.9 trillion peak in December as altcoins continue to lag behind.
Institutional accumulation drives the rally past $111K
Institutional demand continues to lead Bitcoin’s rally, with U.S.-listed spot Bitcoin ETFs recording six consecutive days of inflows totaling more than $2 billion.
Corporate accumulation has also intensified. Strategy, the digital asset investment arm founded by Michael Saylor, has acquired 324,000 BTC in the past eight months, outpacing all other public companies combined.
“Strategy is the apex Bitcoin accumulator,” said Jeff Walton, Digital Capital Strategist, on X yesterday.
The firm’s holdings are now valued at $63.7 billion, with an unrealized profit of $23.5 billion, according to the Saylor Tracker.
Despite the breakout, retail activity remains muted. Bitcoin-related search interest is near bear market levels, according to Google Trends, suggesting the current bull run is being powered primarily by institutional players rather than broader public enthusiasm.
Still, momentum may have room to grow. Market analyst “CrypNuevo” expects further upside in the coming weeks, forecasting a near-term price target of at least $115,000.
Bitcoin ‘Pizza Day’ marks a billion-dollar slice of history
May 22 has a special spot in Bitcoin’s history. Not only due to this new all-time high, but also because it marks the annual celebration of Bitcoin Pizza Day, commemorating the first time Bitcoin was used in a real-world transaction.
In 2010, Florida-based programmer Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas, worth about $40 back then.
At today’s prices, those same 10,000 BTC would be valued at over $1.1 billion, turning what many now call “the most expensive pizzas in history” into a symbol of Bitcoin’s extraordinary journey from obscurity to global prominence.
The milestone has become a fixture in crypto culture, not only for its humor but as a reminder of how far adoption and value have come in just 15 years.
