Bitcoin has rocketed past the critical $100,000 mark, achieving a major psychological milestone for traders and investors alike.
The cryptocurrency has soared over 47% in the last month and more than 67% since early October when it was valued around $60,000.
This impressive rally began well before the election, driven by increasing demand for digital assets as inflation hedges and long-term investments.
Trump's victory further boosted market sentiment, with analysts expecting clearer regulations under his administration.
Institutional interest continues to be a key factor, with MicroStrategy, the largest corporate holder of Bitcoin, purchasing an additional 15,400 BTC for $1.5 billion in November.
CEO David P. Luci called it a strategic bet on Bitcoin's store-of-value qualities:
"As demand for bitcoin grows, and so does its acceptance as a major and primary asset class, we believe that bitcoin will serve as a strong treasury reserve asset for cash not needed over the next 12 to 18 months. Its limited supply and inflation-resistant characteristics provide a functional store of value, this new treasury strategy is a finance strategy and has no impact on our overarching drug development plans."
CEO Michael Saylor celebrated the move and called for a $100K party.
The price surge also coincided with Trump's announcement of Paul Atkins, a vocal crypto advocate, as SEC chair.
This appointment, along with Trump's crypto-friendly administration, has further fuelled optimism in the market.
Additionally, prominent figures such as Scott Bessent, Trump's nominee for Treasury Secretary, and Howard Lutnik, appointed to head the Commerce Department, have expressed strong support for Bitcoin.
The rally is also being propelled by institutional buying, including significant inflows into BlackRock's Bitcoin ETF (IBIT).
Meanwhile, Bitcoin's growing acceptance is reflected globally, with Russian President Vladimir Putin voicing strong support for digital assets, declaring that Bitcoin's development is unstoppable.
Bitcoin’s market value has now surpassed $2 trillion, solidifying its position as one of the largest investment assets globally.
This milestone places Bitcoin above most public companies, only trailing giants like Nvidia, Apple, and Alphabet (Google's parent company).
Its valuation now exceeds the size of government bond markets in major economies such as Spain and Brazil.
Additionally, Bitcoin is approaching the total market capitalisation of the FTSE 100, which represents the largest companies in the UK.
Fadi Aboualfa, head of research at Copper Technologies Ltd, suggests that Bitcoin's ascent to $100,000 marks the start of the next phase of its bull run, one that seems increasingly resistant to all but external shocks.
Bitcoin is number 7 on the "Top Assets by Market Cap”
Bitcoin (BTC) has reached a historic milestone, surpassing $100K for the first time, with its price currently at $101,958.25, marking a 5.46% increase in the past 24 hours.
This surge comes amidst mixed performance across other major cryptocurrencies.
Ethereum (ETH) rose 6%, trading at $3,860.80, reflecting a 4.64% increase, while Binance Coin (BNB), XRP, and Solana (SOL) saw declines of 2-6%.
Federal Reserve Chair Jerome Powell's recent comparison of Bitcoin to gold has fuelled bullish sentiment, as he highlighted their similarities in contrast to the US Dollar.
Meanwhile, Bitcoin's recent consolidation has given altcoins like Ethereum the chance to perform, with Ethereum's resilience—especially during an 8% dip in Bitcoin's price—solidifying its role as a key player in this ongoing bull market.
XRP, however, faced a 10.26% drop, trading at $2.34.
The surpassing of the $100,000 mark in 2024 represents a defining moment for the cryptocurrency market, signalling heightened institutional adoption, bolstered investor confidence, and the introduction of strategic Bitcoin reserve legislation.
Bitcoin's rise past this critical threshold cements its place in the global financial landscape, reflecting its growing legitimacy among both institutional investors and individual holders.
As Bitcoin's price continues its ascent, speculative predictions have surged, with some analysts boldly forecasting its future trajectory.
On 22 October, Bernstein, a prominent institutional market researcher, predicted Bitcoin could reach $200,000 by the end of 2025, heralding the start of a "new institutional era" for crypto markets.
Similarly, Geoff Kendrick, global head of digital assets research at Standard Chartered, echoed this sentiment, maintaining the $200,000 target since January 2024, even before ETF approvals.
Both forecasts are largely driven by expectations of a major influx of institutional investors.
While the future price remains uncertain, one thing is clear: Bitcoin has solidified its status as one of the world's most valuable hard assets, surpassing silver and now eyeing gold.
Joe Flanagan, co-founder of Maple Finance, noted:
“Bitcoin surpassing $100,000 can be traced back to several factors building up over the last few weeks. Notably, Trump winning the election and choosing a pro-crypto SEC chair has brought a lot of positive momentum to the industry as we usher in a new era of innovative crypto laws, on top of lawmakers and industry leaders working together. This era is not one where the industry is only recovering but entering a phase of growth and evolution. What we’re likely to see now is an exciting 2025 as a pro-crypto administration takes office and the industry becomes excited to build new projects again.”
Today, marks the sweet 16th birthday of bitcoin, which was born on 3rd January, 2009. This pivotal moment marked the official launch of Bitcoin, the world’s first cryptocurrency, setting the stage for a financial and technological revolution that continues to influence the modern economy.
XingChiChina has introduced stricter regulations requiring banks to monitor and report suspicious cryptocurrency transactions. These measures are part of an ongoing effort to control digital asset trading and prevent illegal activities like cross-border gambling.
WeatherlyData from the Bank of Korea (BOK) has showed that the number of cryptocurrency investors in Korea has reached 15.59 million as of November, an increase of 610,000 compared to the previous month, representing more than 30% of Korea's entire population of approximately 51.23 million.
XingChiLuxury brands and businesses like Printemps, S.T. Dupont, and Virgin Voyages are now accepting Bitcoin as payment, driven by its record value of over $108,000. This shift highlights growing interest in cryptocurrency for high-end purchases despite challenges like consumer education and regulatory barriers.
WeatherlyMicrosoft shareholders overwhelmingly rejected a proposal to add Bitcoin to the company's balance sheet, with only 0.55% in support. The board expressed concerns about Bitcoin's volatility, despite acknowledging its potential as an inflation hedge.
WeatherlyEl Salvador and Argentina have signed an agreement to collaborate on cryptocurrency regulation and innovation in Latin America. The deal aims to share expertise, boost crypto growth, and strengthen the regulatory framework for digital assets in both countries.
AnaisFormer Binance CEO Changpeng “CZ” Zhao Predicts China could beat the United States of America at building a Strategic Bitcoin Reserve.
XingChiBinance has not yet decided on its new global headquarters due to complexities like tax laws and talent acquisition challenges. Legal troubles, including Changpeng Zhao's legal issues and a $4.3 billion fine, have led Binance to restructure its leadership and adopt better governance strategies.
WeatherlyBilly Markus, the founder of Dogecoin, recently shared regret about selling 37.37 bitcoins in 2015 for $424,152.54 — a decision that would now be worth over $368 million. Despite stepping away from Dogecoin in 2015, Markus reflects on its impact as a cultural icon while highlighting its true value lies in its community and shared ideals, not just market performance.
WeatherlyBitcoin has reached a new all-time high, surpassing $100,000, while CZ remains unaffected by the surge, holding onto the same amount of Bitcoin. Binance Coin (BNB) also hit a record high, but CZ’s focus remains on Bitcoin’s long-term value rather than its fluctuating price.
WeatherlyRobert Kiyosaki predicts Donald Trump will secure future political success, while Kamala Harris shows support for cryptocurrency, marking a significant shift in the political landscape.
Huang BoRobert Kiyosaki warns that the stock market crash has begun, focusing on the corruption within bond markets and hidden financial issues. He advises investing in tangible assets such as gold, real estate, and food.
Huang BoKiyosaki's insights underscore the potential for wealth creation amid economic instability. He emphasises the importance of passive income, strategic investments, and personal resilience as key components of financial success during market downturns.
Xu LinRenowned investor Robert Kiyosaki backs Cathie Wood's ambitious Bitcoin forecast, signaling growing consensus on its transformative potential. Kiyosaki emphasizes learning from mistakes and advocates for Bitcoin investment amid bullish projections.
Huang BoRobert Kiyosaki warns of an impending financial market crash, advising investment in Bitcoin and other real assets like gold and silver. He predicts Bitcoin could reach $300,000 this year and $100,000 by June.
AlexRobert Kiyosaki cautions against the fragile U.S. economy, criticizing government-backed corporate stability, advocating for Bitcoin as a hedge against traditional financial system vulnerabilities and market volatility.
MiyukiExplore Robert Kiyosaki's strategic stance on Bitcoin as a hedge against wealth erosion caused by inflation, taxation, and stock market manipulation.
BrianRenowned author Robert Kiyosaki, famous for his book "Rich Dad Poor Dad," has shared his predictions on the future prices of Bitcoin, gold, and silver, alongside a stern warning concerning the risks associated with holding U.S. dollars, which he termed "fake money."
Jasper
Coinlive I don't trust our leaders, the Fed, the Treasury, or the stock market. —Robert Kiyosaki
Ftftx