Bitcoin (BTC) Surges to New All-Time High Above $100,00, Driving Crypto Stocks Higher

Bitcoin (BTC) surged to a new all-time high above $100,00 on Bitcoin Pizza Day, driving crypto-related stocks higher.

Bitcoin (BTC) soared to a new all-time high above $111,000 on Monday, hitting a symbolic milestone on Bitcoin Pizza Day, while crypto-related stocks rose in midday trading.

Coinbase Global (NASDAQ:COIN) and Robinhood Markets (NASDAQ:HOOD) both posted gains as the cryptocurrency rally sparked renewed institutional interest and placed every Bitcoin holder in profit.

Bitcoin Reaches Historic Milestone on Pizza Day Anniversary

Today marks a particularly symbolic day for the cryptocurrency community as Bitcoin Pizza Day coincides with the digital asset reaching a new all-time high above $111,000. May 22nd commemorates the day in 2010 when Florida programmer Laszlo Hanyecz paid 10,000 bitcoins for two Papa John’s pizzas in what became the first commercial Bitcoin transaction. At today’s prices, those pizzas would be worth over $1.1 billion.

Bitcoin’s rapid ascent has triggered significant market activity, with over $500 million liquidated across crypto derivatives markets in the past 24 hours. More than 120,000 traders lost their positions, with the single largest loss being a $6.36 million BTCUSD position on Bybit. Short positions bore the brunt of the damage, accounting for almost $300 million in losses, while long positions saw approximately $193 million wiped out.

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Crypto Stocks Rally on Institutional Momentum

As of 12:15 PM EST on May 22, 2025, crypto-related stocks are experiencing broad-based gains as investors position themselves for continued institutional adoption of digital assets.

Coinbase Global (NASDAQ:COIN) is leading the charge, trading at $268.89, up $9.90 or 3.82% from the previous close. The cryptocurrency exchange’s strong performance reflects growing trading volumes and institutional interest in digital assets. With a market capitalization of $68.4 billion and a forward P/E ratio of 44.64, Coinbase remains well-positioned to capitalize on increased crypto adoption. The stock has gained 8.22% year-to-date and 16.07% over the past year, significantly outperforming broader market indices.

Robinhood Markets (NASDAQ:HOOD) is also participating in the rally, up $0.95 or 1.48% to $64.81. The commission-free trading platform has become increasingly popular among retail investors for crypto trading, with analysts comparing Robinhood Gold to “Amazon Prime of e-brokers.” The stock has delivered impressive returns with a 73.94% gain year-to-date and a remarkable 229.65% advance over the past year, demonstrating strong momentum in the retail crypto trading space.

MicroStrategy (NASDAQ:MSTR), often considered a Bitcoin proxy stock due to its substantial cryptocurrency holdings, gained $9.60 or 2.38% to $412.29. The business intelligence company has transformed itself into a de facto Bitcoin ETF through its aggressive accumulation strategy. Despite facing some regulatory scrutiny and class action lawsuits related to its Bitcoin strategy, MSTR continues to attract investors seeking leveraged exposure to Bitcoin’s price movements. The stock has gained 42.36% year-to-date and an impressive 150.33% over the past year.

The broader crypto ecosystem is benefiting from what appears to be renewed institutional confidence. Standard Chartered recently reiterated its $500,000 Bitcoin price target, citing a “wider range of institutional buyers” entering the market. This institutional interest, combined with the symbolic significance of Bitcoin Pizza Day reaching new price heights, has created a compelling narrative for crypto investors.

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