Bitcoin surges to new all-time high

Thursday, 22 May 2025 – Bitcoin has set a new all-time high of $111,534, demonstrating increasing independence from traditional financial markets.

Bitcoin is currently trading at over R2,010,914 - previous high was around $109,000 / R1,743,420 on 11 March 2025 on Luno.

The timing of this milestone is particularly symbolic, coinciding with the 15th anniversary of Bitcoin Pizza Day. On 22 May 2010, developer Laszlo Hanyecz famously paid 10,000 Bitcoin for two pizzas – a transaction worth over $1.1 billion at today's prices, highlighting Bitcoin's extraordinary appreciation over the past decade and a half.

The new all-time high comes as global cryptocurrency market capitalisation reached approximately $3.48 trillion, reflecting a 2.32% increase over the past 24 hours, while traditional equity markets experienced downward pressure with the S&P 500 declining 1.61%.

The Bitcoin rally has triggered substantial institutional interest, with Bitcoin Exchange-Traded Funds (ETFs) recording over $607 million in inflows following the new price peak. This institutional adoption signals growing confidence in Bitcoin as a legitimate asset class among professional investors.

"This decoupling from traditional equities is particularly noteworthy," said Christo de Wit, Luno country manager. "For South African investors, this development underscores the growing importance of cryptocurrency as a potential portfolio diversification tool, particularly as global economic conditions continue to evolve."

The broader cryptocurrency market is benefiting from Bitcoin's momentum, with altcoins also posting gains. 

This latest peak occurs against a backdrop of ongoing concerns about potential US debt downgrades and legislative uncertainty around President Trump's proposed tax bill. These factors have weighed on traditional equity markets. The divergence between crypto and stock performance suggests that digital assets are increasingly viewed as alternative stores of value during periods of traditional market uncertainty.