Bitcoin rose more than 4% in the last 24 hours to $111,489, with trading volume surged 77% over the same period. It touched a high of $111,862.98—3.3% above its May 21 close—taking its overall market cap to $2.21 trillion.
Jim Reid, Deutsche Bank’s global head of macro and thematic research, said that Bitcoin is close to $112,000, a new record, as investor sentiment increases around the possibility of stablecoin regulation approval following recent legislative developments.
The rally is all the more significant as it occurred on Bitcoin Pizza Day, an annual celebration in the crypto community to commemorate the first real-world Bitcoin transaction. On May 22, 2010, programmer Laszlo Hanyecz bought two pizzas for 10,000 Bitcoins valued then at around $41. Today’s price would have made those Bitcoins worth more than $1.1 billion, making the most expensive purchase of a pizza in history.
What started as a minor community tradition, Bitcoin Pizza Day is now a symbolic date for the whole crypto world.
