Bitcoin marked a major milestone on May 22—widely known as Bitcoin Pizza Day—by surpassing Amazon in market capitalization. At the time of writing, Bitcoin’s market cap stood at $2.205 trillion, outpacing Amazon’s $2.135 trillion by $70 billion.
The timing of the achievement added symbolic weight, aligning with the anniversary of Bitcoin’s first real-world transaction in 2010, when 10,000 BTC were used to buy two pizzas.
“Surpassing Amazon in market cap is more than symbolic—it signals Bitcoin’s growing legitimacy beyond the crypto community,” said Alex Obchakevich, founder of Obchakevich Research.
Obchakevich noted that the rally—driven in part by rising institutional inflows—highlighted increasing acceptance of Bitcoin as a serious asset class. BlackRock’s iShares Bitcoin Trust (IBIT), which recently became the second-largest BTC holder behind Satoshi Nakamoto, overtook Binance this month.
“This kind of institutional momentum doesn’t just lift prices—it builds confidence,” he said.
For an asset once dismissed as speculative, the climb past Amazon’s market value underscores Bitcoin’s transformation into a dominant financial force.
Crypto Market Nears All-Time High Levels
The broader crypto market is approaching record territory. According to CoinMarketCap, total market capitalization hit $3.49 trillion on May 22—just 6% below the all-time high of $3.71 trillion reached in December 2024.
Institutional inflows are playing a key role. Bitcoin ETFs brought in $604 million on May 21 alone, while open interest in perpetual swap derivatives rose to $756.16 billion. Futures markets added another $3.24 billion in exposure, reflecting robust leveraged positioning.
“This level of market activity reflects deepening institutional conviction,” said Hassan Khan, CEO of Bitcoin liquidity firm Ordeez.
“Despite macro friction, the demand foundation is far stronger than in past cycles.”
Alex Obchakevich also projected a bullish trajectory, forecasting a $150,000 price target by year-end, with longer-term upside toward $200,000.
“Volatility is expected,” he said, “but the broader trajectory remains firmly upward.”
Bitcoin Pizza Day Celebrates 14 Years of Progress
May 22 marks the anniversary of one of the most iconic moments in Bitcoin history: the first recorded real-world transaction using the digital currency.
On this day in 2010, programmer Laszlo Hanyecz paid 10,000 BTC—worth just $41 at the time—for two Papa John’s pizzas. Today, that same amount would be worth over $1.1 billion.
Since then, Bitcoin has gone from an experiment in peer-to-peer payments to one of the most influential financial assets in the world.
“Bitcoin has moved far beyond the realm of speculation,” said Ulli Spankowski, Chief Digital Officer at Boerse Stuttgart Group.
“It is now a globally recognized asset class.”
Now the fifth-largest financial asset globally, Bitcoin has joined the ranks of elite market players—behind only gold and the world’s three biggest publicly listed companies.
Quick Facts
- Bitcoin’s market cap hit $2.205T, surpassing Amazon’s $2.135T.
- Crypto market cap stands at $3.49T—just 6% from its all-time high.
- Bitcoin ETFs attracted $604M in inflows on May 21 alone.
- May 22 marks 14 years since Bitcoin’s first real-world transaction.
