Today, May 22, Bitcoin has reached above $111,000 for the first time in its history, pushing its market capitalization to around $2.2 trillion, or roughly two-thirds of the total crypto market cap.
This has also placed BTC’s market cap above Amazon, making it the 5th most valuable asset worldwide.
The surge is being fueled by strong ETF inflows and large-scale corporate accumulation. The largest Bitcoin ETF – BlackRock’s iShares Bitcoin Trust (IBIT) – has recorded its highest inflow over the past two weeks. Since going net positive on inflows as of April 9, IBIT reported $530.6 million in net inflows on May 21, narrowly missing its record of $531.2 million set on May 5. Cumulative inflows into spot Bitcoin ETFs have now hit $607.1 million, with trading volumes at levels not seen since January.
On the corporate front, several major companies have adopted Bitcoin as their primary treasury asset. Among the top holders are:
These companies primarily use spot markets for their purchases, making their holdings less sensitive to short-term price movements compared to those using derivatives.
Some market participants believe the rally could continue, especially if macroeconomic conditions stay supportive, with Bitcoin potentially climbing to $125,000 by year-end.
Whether this momentum continues depends on upcoming economic data and regulatory developments.
