Bitcoin Hits Record $111,970 on Bitcoin Pizza Day
Bitcoin surged to a new all-time high of $111,970 on May 22, coinciding with Bitcoin Pizza Day, the anniversary of the first real-world Bitcoin transaction in 2010, when 10,000 BTC were exchanged for two pizzas. The price later edged down slightly to around $111,500, still reflecting a nearly 8% gain over the past week.
Regulatory Momentum
On May 20, the U.S. Senate advanced a bill establishing a framework for stablecoin regulation. While the bill targets dollar-pegged digital assets, it marks the first significant legislative step toward broader crypto regulation, potentially signaling more regulatory clarity ahead.
Institutional Shift
Institutional sentiment is also turning. On May 19, JPMorgan Chase CEO Jamie Dimon revealed that clients can now purchase Bitcoin via JPMorgan’s platforms—a notable move from one of the world’s largest banks, even though the firm itself will not directly hold the asset.
Macro Environment Boost
Last week, Moody’s downgraded the U.S. sovereign credit outlook, citing long-term debt risks and policy uncertainty. In the wake of this downgrade, Bitcoin is increasingly seen as a hedge against dollar weakness and fiscal instability.
ETF Inflows Surge
Between May 18–21, spot Bitcoin ETFs attracted over $2 billion in inflows, highlighting surging demand. On May 22 alone, spot BTC ETFs recorded $934.8 million in net inflows, while spot Ether ETFs brought in $110.5 million.
Corporate Buy-In
In a notable corporate move, Swedish health tech firm H100 Group AB announced it had acquired 4.39 BTC for approximately $490,830, at an average price of $111,785, sending its shares up 37%.
Bitcoin-Linked Corporate Moves, Memecoin Surge, and Solana Ecosystem Expansion Drive Market Buzz
On May 22, Nasdaq-listed Chinese EV retailer Jiuzi Holdings announced that its board has approved a plan to acquire 1,000 BTC over the next year through a mix of cash purchases and new stock issuance.
Meanwhile, Michael Saylor’s MicroStrategy revealed plans to raise up to $2.1 billion by selling 10% perpetual preferred stock. The sale, structured as an “at-the-market offering,” coincides with Bitcoin’s new all-time high, reflecting continued institutional leverage on BTC’s momentum.
Memecoins and Altcoins Climb
Dogecoin (DOGE) rose 2% to $0.2426 after becoming available on the Solana blockchain, a strategic expansion beyond its original ecosystem.
Other altcoins also saw strong gains:
ADA, SHIB, LINK, DOT, and UNI: up 3–5%
HYPE (Hyperliquid): up 6%, trading at $35.12
PEPE and Bitget Token (BGB): jumped 10–12%
Robinhood Expands Memecoin Offerings
Robinhood has added Solana-based memecoins MOODENG and MEW for U.S. users.
MOODENG surged 27%, now at $0.2983
MEW climbed 29%, trading at $0.0046
Solana Ecosystem Developments
Centrifuge is launching tokenized real-world assets on Solana, starting with Anemoy’s $400 million tokenized U.S. Treasury fund, boosting SOL by 3.5% to $181.76.
Kraken plans to list tokenized versions of Nvidia, Apple, Tesla, and over 50 U.S. stocks and ETFs via Solana-based tokens called “xStocks”, offering 24/7 global trading access, according to The Wall Street Journal.
Tech Check: If BTC Sustains a daily close above $112,000 with strong volume could open the way toward the $118,000 to $120,000 zone, where sellers might begin to emerge and trigger partial profit-taking.
From a trend perspective, momentum indicators are likely approaching overbought conditions. While that doesn’t imply an immediate reversal, A deeper pullback would bring the $98,000 to $100,000 region into focus.
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