On the evening of May 22, the price of the leading cryptocurrency nearly tested the $112,000 level, buoyed by substantial inflows into ETFs.
The digital gold reached a peak of $111,980 against the BTC/USDT pair on the Binance exchange. At the time of writing, the asset is trading around $110,650.
The market capitalization of the leading cryptocurrency momentarily exceeded $2.2 trillion. By this measure, Bitcoin surpassed Amazon and Google, trailing only Apple ($3 trillion), Nvidia ($3.24 trillion), and Microsoft ($3.38 trillion).
Among the top 10 cryptocurrencies by market capitalization, Solana, Dogecoin, and Cardano showed significantly better performance compared to digital gold over the past day.
Institutional Investors and Whales
The driving force remains the demand for exchange-traded funds. Over the past seven days, investors have poured $3.22 billion into these products, including $934 million on May 22.
The total inflow into BTC-ETFs increased to $44.31 billion. AUM reached $134.3 billion.
Additional support continues to come from purchases by public companies.
On May 22, Michael Saylor’s Strategy submitted a SEC application for the issuance of preferred shares worth $2.1 billion. The firm intends to use the proceeds to finance general corporate purposes, including the acquisition of digital gold.
In total, the company plans to raise $21 billion through such instruments, plus $21 billion in common stock.
As of May 23, 2025, Strategy’s Bitcoin position stands at 576,230 BTC ($63.6 billion).
Eighty-five companies have already adopted a Bitcoin strategy. Collectively, they hold over 800,000 BTC.
The HODL Top 85 List ? 5/19/2025
✅ The Top 85 companies HODL more than 800,000 Bitcoin pic.twitter.com/X2tGitjA3d
— HODL15Capital ?? (@HODL15Capital) May 19, 2025
Earlier, Standard Chartered urged investors to buy the leading cryptocurrency and forecasted its price to rise to $120,000 in the second quarter.