On December 5, Bitcoin officially surpassed the 100,000 USD mark, marking an important milestone in the history of cryptocurrency.
On the morning of December 5, Bitcoin officially surpassed the 100,000 USD mark, marking an important milestone in the history of cryptocurrency. As of the time of this post, Bitcoin is trading at 102,484 USD, up more than 6%.
The value of Bitcoin has doubled this year, and in the four weeks since Donald Trump's victory, the increase has been about 45%. Trump's victory not only brought him to the White House but also brought many cryptocurrency-supporting legislators into Congress.
Mike Novogratz, founder and CEO of Galaxy Digital, stated: "We are witnessing a major shift. After 4 years of political scrutiny, Bitcoin and the entire digital asset ecosystem are on the verge of entering the mainstream financial market." According to him, the main driving force behind this breakthrough comes from institutional acceptance, advancements in encryption and payment technology, along with clearer regulatory pathways.
Despite having experienced more than 16 years since its inception, Bitcoin has always been the center of controversy. However, this 100,000 USD milestone has affirmed the transformation of the financial, technological, and geopolitical landscape, according to Justin D’Anethan, a cryptocurrency analyst in Hong Kong.
Additionally, Bitcoin is supported by the approval of ETF funds listed in the U.S. since January this year, attracting over 4 billion USD in investments into these funds since the election. The launch of BlackRock's ETF options in November also recorded overwhelming odds for price increases, creating momentum for the market.
