Bitcoin Hits Record High of $111,000 on Bitcoin Pizza Day

Bitcoin price suddenly set a new record when it surpassed the $111,000 mark, reaching a historical peak of $111,861.2 in the early morning of May 22. In the past 24 hours, the price increased by more than 4%, while trading volume also increased sharply by 77%, pushing the total market capitalization of bitcoin to $2,210 billion.

Ashish Singhal, co-founder of trading platform CoinSwitch, said this was a historic moment: "Bitcoin has officially entered an unprecedented price zone, surpassing its previous peak and is currently trading above $110,000."

According to him, this milestone is not simply a price achievement, but also reflects a profound change in the way the world views digital assets.

Bitcoin price over the past 5 years (Source: TradingView).

This memorable milestone comes on “Happy Bitcoin Pizza Day” – an occasion that marks the digital currency’s transformation from humble beginnings to its leading position.

Explaining the story behind "Bitcoin Pizza Day", on this day 15 years ago - May 22, 2010, programmer Laszlo Hanyecz made one of the first Bitcoin transactions in the real world when spending 10,000 BTC to buy two pizzas from Papa John's - a famous American pizza brand.

At the time, the bitcoins were worth just $41. But at today’s prices, the two pizzas would be worth more than $1 billion—making them the most expensive meal in history.

From that milestone, bitcoin began to be recognized as a means of payment, and May 22 became an important anniversary in the cryptocurrency community.

Currently, the price of bitcoin has surpassed the $111,000 mark, marking another step forward in the market movement. According to technical analysis, the uptrend is still being maintained and is likely to continue in the near future.

The reason is said to stem from deep concerns about the US fiscal situation, especially after the unsuccessful auction of 20-year Treasury bonds.

In addition, President Donald Trump’s push for a massive spending bill and tax cuts has raised concerns about the national debt, with nonpartisan analysts estimating that the bill could add between $3 trillion and $5 trillion to the national debt.

Bitcoin price surpasses $111,000 mark (Photo: Cryptotimes).

After a period of fluctuating around the $90,000-$100,000 level in April, bitcoin has gradually formed a new price range, with the $110,000 threshold considered a near-term support level. Some indicators show that the current buying flow is mainly coming from real investors, not simply due to short-term psychology.

While the $111,000 mark is no longer a surprise to long-time market watchers, just a few years ago, Bitcoin approaching $100,000 was still a distant dream. Given the current developments, many believe that $120,000 could be the next target, and $150,000 further down the line.

The rise in bitcoin prices also partly reflects the impact of the halving event in April, when the reward for miners was cut in half, leading to a limited new supply.

In addition, the growing interest from institutional investors through ETFs (Exchange Traded Funds) - an investment fund that simulates the fluctuations of stock or bond indices and related financial instruments - is contributing to improving liquidity and expanding the accessibility of bitcoin in the financial market.

Source: https://dantri.com.vn/kinh-doanh/bitcoin-lap-dinh-ky-luc-111000-usd-dung-ngay-pizza-bitcoin-20250522151811601.htm