May 22, 2025 – On the 15th anniversary of the first recorded Bitcoin transaction—famously used to buy two pizzas—BTC reached a historic new high of $111,000, a milestone hailed across the crypto industry as symbolic of Bitcoin’s long-term resilience and growing institutional relevance.
What was once a $40 novelty is now worth over $1.1 billion, and the timing of this record couldn’t be more poetic. On “Bitcoin Pizza Day,” the digital asset not only reaffirms its dominance but also underscores how far adoption has come since 2010.
From Meme to Macro: Bitcoin Defies Market Trends
Despite macroeconomic pressure from Trump-era tariffs and a pullback in traditional markets, Bitcoin managed to break resistance and climb over 8% in the last week. The S&P 500 dipped slightly on Wednesday, yet Bitcoin’s surge reveals it’s increasingly uncorrelated with equities—a narrative many analysts have long debated.
BTC’s outperformance also outpaces major altcoins: BNB is up 4.9%, Solana by 3.5%, and Ethereum by just 3.2%.
Michael Saylor, Executive Chairman of Strategy, took to X to celebrate the rally, stating that institutional investors still hesitating to buy BTC are “ignoring the most pristine collateral available to mankind.”
Institutional Interest Grows, But Retail Lagging
According to Google Trends, interest in Bitcoin has yet to match the hype. This discrepancy signals that retail investors may not have fully entered the market—potentially leaving room for more upside.
“Most major rallies start slow with smart money, and retail catches up after,” noted Ryan Chow, CEO of Solv Protocol. “This feels like one of those early innings where the smart money is building serious positions.”
Chow says institutional backing has positioned Bitcoin not just as digital gold, but as a global macro hedge and a foundational asset in the evolving digital economy.
Caution: Scaling and Usability Still Roadblocks
Yet not everyone is popping champagne. Critics warn the network’s infrastructure may not be ready for the next wave of mainstream or institutional usage.
Leo Fan, co-founder of Cysic, argues that for crypto to go truly mainstream, “it needs to function in the background, like email or TCP/IP. Right now, people still have to think too much to use it.”
Radix founder Dan Hughes warned, “We’re letting Wall Street run billions through systems that still operate like dial-up. It’s workable, but it’s fragile. Infrastructure must evolve.”
What’s Next for BTC in 2025?
With spot Bitcoin ETF inflows reaching $609 million this week and optimism building, platforms like Polymarket now show:
- 84% chance BTC hits $120,000 by year-end
- 41% chance of reaching $150,000
- 20% chance of touching $200,000
This momentum comes just ahead of the Bitcoin 2025 Conference in Las Vegas, where Vice President JD Vance is set to speak, and following President Trump’s elite $TRUMP token gala, where seats reportedly cost $1.8 million on average.
All signs suggest the bull market is not over yet—but as with every cycle, it’s a mix of hype, headlines, and hard technical work ahead.
