Bitcoin finally reached a new all-time high (ATH) after a four-month lull, nearing $109,500 on May 21.
The cryptocurrency last hit the ATH of $109,241 on Jan. 20, ahead of pro-crypto Donald Trump's presidential inauguration.
At the time of writing, BTC was trading at $111,861.22 — its new record high so far.
Launched in 2009, Bitcoin is the world's largest cryptocurrency with a market cap of $2.2 trillion.
As of now, it has dethroned Amazon (Nasdaq: AMZN) and Alphabet (Nasdaq: GOOGL). If it were a company, Bitcoin would be the fourth-most valuable company.
Now, only Microsoft (Nasdaq: MSFT), Nvidia (Nasdaq: NVDA), and Apple (Nasdaq: AAPL) stay ahead of Bitcoin.
Thomas Perfumo, Kraken’s global economist, told TheStreet Roundtable, "Bitcoin's new all-time high is a clear signal yet that this crypto bull market has further room to run.”
Perfumo highlighted that recovering equity markets, heavyweight ETF flows, and the ever-present corporate demand for the asset collectively create "a feedback loop that is propelling Bitcoin higher." He, in particular, underlined Bitcoin treasury companies such as Michael Saylor's MicroStrategy (Nasdaq: MSTR), Twenty One Capital, and Vivek Ramaswamy 's Strive as agents that are fuelling the price rally.
However, no other leading cryptocurrencies have achieved such great success of late.
Ethereum , the second-largest cryptocurrency, was trading at $2,652.15 at the time of writing, 45% lower than its ATH of $4,891.70 that it hit on Nov. 16, 2021.
XRP was trading at $2.42 at press time, 37% lower than the ATH of $3.84 that it reached on Jan. 4, 2018.
The total crypto market reached $3.5 trillion on May 22, with BTC accounting for more than 60% of the share.
Bitcoin smashes all-time high as bull run intensifies first appeared on TheStreet on May 22, 2025