Bitcoin Passes $110,000 as the Community Celebrates Pizza Day
Bitcoin set a new record high, breaking above $110,000. The rally coincides with Pizza Day, which marks the first time the coin was used for a real-world purchase by a Florida man.
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Positive market sentiment, regulatory developments, and institutional demand drove the Bitcoin price above $110,000 amid Pizza Day celebrations. In the last 24 hours, Bitcoin gained more than 8%, with its market cap currently standing above $2 trillion.
The total crypto market surged above $3.5 trillion. AAVE, Ether, and VIRTUAL have been among the leaders of the altcoin rally. With Bitcoin hitting new highs, Pizza Day serves as a reminder of how crypto grew from an idea to a major player in global finance.
A Look Back at the 10,000 BTC Pizza Order
On May 22, 2010, early Bitcoin miner Laszlo Hanyecz bought two pizzas with 10,000 Bitcoins. Since then, many have estimated how much those Bitcoins would be worth today. The day has become an iconic celebration in the Bitcoin community, showing how much the cryptocurrency has grown over the years.
At current prices, Hanyecz’s purchase would be worth more than $1.1 billion, trader and investor Alek Carter wrote on X.
He mentioned that the day marks the first real-world transaction using Bitcoin. This simple transaction remains a key milestone in Bitcoin’s history and helped pave the way for global crypto adoption.
Bitcoin Surpasses Amazon as the 5th Largest Asset
Bitcoin’s market value has moved it into 5th place among the top assets by market cap. According to companiesmarketcap.com, Bitcoin is now ahead of Amazon and Alphabet (Google). Content creator Borovik (@3orovik) predicts that one day Bitcoin will surpass gold as well.
At the time of writing, gold’s market valuation is above $22 trillion, posing strong competition for other assets. Microsoft, in second place, has a market cap above $3.3 trillion, while NVIDIA and Apple are around $3.2 trillion and $3 trillion, respectively.
El Salvador’s Bitcoin Holdings Now Worth Over $677 Million
Nayib Bukele, El Salvador’s pro-Bitcoin President, shared that the country’s BTC holdings now surpass $677 million, reflecting a 132% gain.
The President mentioned the country’s strategy to invest in Bitcoin and not sell despite the criticism or bearish cycles. Besides El Salvador, other large government Bitcoin holders include the US, China, the UK, Bhutan, and Ukraine, according to Bitcoin Treasuries.
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