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Homepage > News > Business > BTC token hits all-time price high on ‘Bitcoin Pizza’ day The BTC token hit a new all-time high on ‘Bitcoin Pizza’ day, but most of the gains are driven by corporations, not retail buyers. On May 22, BTC’s fiat value hit US$111,814, a new all-time high and a significant improvement over the ~$76,000 range the token had slipped to in early April. The fact that the new high came on the 15th anniversary of ‘Bitcoin Pizza’ day (more on this below) seemed like icing on the cake (or extra cheese on the pie) for many individuals checking the price ticker on Thursday. The token’s surge came as the U.S. House of Representatives narrowly passed (by a single vote) what President Donald Trump called his ‘big, beautiful’ budget bill. The bill has been widely criticized for its failure to offset deep tax cuts with similarly sized cuts in spending. Analysts argue that the bill will exacerbate the federal government’s annual deficit, not to mention its current $36.2 trillion national debt. Doubts about America’s ability to continue to service its record-high debt appear to have played a significant role in boosting BTC’s value. As the budget bill’s chances of passing grew, the U.S. dollar’s value tumbled against rival currencies, and bond yields spiked higher (meaning nobody was buying T-bills at their current yields, forcing the government to sweeten their appeal). Interest payments on the federal debt are already nearing $1 trillion per year, making it a larger budget item than the Department of Defense, and could hit $2 trillion within the next decade. These types of concerns are supposedly helping to boost the perception of BTC as a ‘safe haven’ asset as investors look beyond the dollar for somewhere to park their money. But is BTC really…

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Filed under: News - @ May 23, 2025 11:26 am