Bitcoin Surges to $111K for Pizza Day Celebration

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Bitcoin prices have reached record highs again as institutional momentum continued to build. 

Bitcoin prices reached an all-time high of almost $112,000 on Thursday, May 22, following a 4% daily gain, according to Coingecko.

The asset has now surpassed a peak of $109,500 on Wednesday and is in a new price discovery phase.

It has also pushed total crypto market capitalization to $3.6 trillion. However, this remains below its peak of $3.9 trillion in mid-December as altcoins remain lackluster.

Big Bitcoin Moves
The asset has now gained more than 17% since the beginning of the year and is up around 47% since its April 7 crash to $75,000. Momentum is being driven by institutions as spot exchange-traded funds and corporations continue to aggressively accumulate the asset.


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