Bitcoin Price Surpasses $110K as Gate PizzaDrop Joins the Pizza Day Celebration with a 10 BTC Airdrop
On May 22, 2025, the 15th anniversary Bitcoin Pizza Day is not only a commemoration of the historic transaction in 2010 when Laszlo Hanyecz bought two pizzas with 10,000 Bitcoins, but also because Bitcoin price Breaking through $110,000 to set a new all-time high has become the focus of global crypto community frenzy. The transaction, worth about $4 at the time, is now valued at around $1.1 billion, jokingly referred to as the “most expensive pizza in history”.
At this special moment, CandyDrop, the candy airdrop platform under Gate, is temporarily renamed PizzaDrop and launched Limited Time Carnival Event, invite global users to share the feast with a super airdrop of 10 BTC.
Bitcoin price hits a new high of $110,000
According to Gate data, as of May 22, 2025, Bitcoin price Reaching $111,689.78, up about 4% from $107,092.03 24 hours ago, and up 9% from $102,766.82 a week ago. This price surpasses the high of $109,700 on January 20, marking Bitcoin’s entry into a new price discovery phase.
Market investors are optimistic, with social media filled with bullish predictions about the future trend of Bitcoin. Some investors are even calling for targets ranging from $150,000 to $500,000. Bitcoin’s market value has reached $2.22 trillion, accounting for 66% of the total market value of the crypto market, highlighting its dominant position.
The driving factors behind the recent price surge
Bitcoin price Since breaking through $100,000 at the end of 2024, it has continued to rise to over $110,000, driven by multiple factors resonating together. The following are the main reasons for the recent surge:
1. Institutional Investment Boom and ETF Inflows
In January 2024, the U.S. Securities and Exchange Commission (SEC) approved the first batch of spot Bitcoin exchange-traded funds (ETFs), providing traditional investors with a convenient channel for Bitcoin investment. Since approval, the ETF has continued to attract a large amount of funds, with a total inflow of $6.9 billion in the past three weeks, including BlackRock’s iShares. Bitcoin Trust (IBIT) stands out, holding over 400,000 coins of Bitcoin, with a net inflow of over 2.2 billion US dollars. The entry of institutional investors not only enhances market liquidity but also strengthens the legitimacy and attractiveness of Bitcoin as an asset.
2. Enterprises and ‘whales’ continue to hoard
The participation of corporate investors further drives up the price. For example, MicroStrategy (now Strategy) purchased 7,390 BTC worth 1.1 billion USD on January 21, 2025, becoming the largest corporate Bitcoin holder. Its total holdings have brought in a book profit of 22.7 billion USD. Other companies, such as Japan’s Metaplanet, have also joined the hoarding ranks, reflecting the confidence of enterprises in the long-term value of Bitcoin.
3. Market sentiment and speculative frenzy
The current market sentiment is ‘extremely greedy’, reflected in the sharp increase in open interest (OI) in the futures market. On May 20, the total open interest in the Bitcoin derivatives market reached $72.63 billion, a 27% increase from $57.1 billion on April 19. CME futures open interest also hit a 90-day high, reaching 157,875 BTC (approximately $16.76 billion). The increase in high leverage long positions shows investors’ strong confidence in the upward trend.
Gate PizzaDrop: Taking advantage of the pizza festival to share the wealth feast
In Bitcoin price At the intersection of all-time high and Pizza Day, Gate seizes the opportunity to rename its CandyDrop platform to PizzaDrop, launching a limited-time carnival event, igniting community enthusiasm with a super prize pool of 10 BTC. The event runs from 14:00 on May 22, 2025, to 23:59 on June 3, 2025 (UTC+8). Users only need to complete a 1 USDT contract transaction to participate in the prize pool sharing, with a maximum of 0.01 BTC per person.
Activity Rules
- Prize pool size: 10 BTC, individual limit 0.01 BTC
- Event Time: May 22, 2025, 14:00 - June 3, 2025, 23:59 (UTC+8)
Participation method:
- Visit the PizzaDrop page and click “Join Now”.
- Complete the contract trading task of 1 USDT to unlock the participation qualification.
- According to the completion of the tasks, ‘pizza’ (candy) is obtained and the prize pool is distributed proportionally.
- Candy will be distributed within 1-3 hours after the task is completed, and users can log in to check.
For more event details, please click the announcement below:
https://www.gate.com/en/announcements/article/45128
This event is designed with low threshold and high returns, not only paying tribute to the Pizza Festival, but also providing users with a low-cost opportunity to participate in the Bitcoin craze. Gate combines the historical significance of Bitcoin with the current market craze through PizzaDrop, motivating new and old investors to explore the potential of the crypto world together.
Join PizzaDrop, share the legend of Bitcoin
Bitcoin has broken through $110,000, marking its transition from a fringe asset to mainstream finance. However, high volatility remains its inherent feature. Wealth advisor Peter Hughes warned that historical data shows Bitcoin fell by over 70% after reaching a peak in November 2021, and investors need to be alert to similar risks. Nevertheless, institutional entry, favorable policies, and supply-demand tightening provide long-term upward momentum for Bitcoin. Market analysis predicts that Bitcoin may test $150,000 by 2025, but short-term pullback risks cannot be ignored.
Bitcoin Pizza Day is not only an echo of history, but also a starting point for the future. Today, as the price hits a new high of $110,000, Gate PizzaDrop invites you to join this global celebration with a 10 BTC airdrop. With just 1 USDT contract trading, you can receive ‘pizza’, share the prize pool, and become part of the legend of Bitcoin.
Activity link: Visit Gate PizzaDrop page Click ‘Join Now’ to start your journey into encryption!
From a pizza to a legendary $1.1 billion, the story of Bitcoin continues. Join PizzaDrop, celebrate the past, and embrace the future with Gate!
Please note that Gate may restrict or prohibit all or part of its services from restricted areas. Please read the user agreement for more information, link:https://www.gate.io/en/user-agreement。
