Bitcoin has reached a historic milestone of $100,000 per coin, pushing its total market cap above $2 trillion.
This makes Bitcoin one of only seven assets or companies to achieve this metric, alongside gold and technologies like Apple and NVIDIA. The attack is driven by changes in the economy, increased domestic adoption, and renewed expectations for crypto-friendly policies in the United States.
According to Coin Metrics, the cryptocurrency is up more than 4% to $103,544.00. It had previously reached $103,844.05. Bitcoin is up more than 140% in 2024 and 48% since the election.
The move comes just hours after President-elect Donald Trump announced plans to nominate Paul Atkins to head the SEC, perhaps his most significant political commitment yet: to change what had become a villain under his leadership, Gary Gensler. The agency has taken a regulatory approach to the cryptocurrency business.
A day to celebrate long-term Bitcoin investors who have held on for life, or “held on for the long haul,” through the cryptocurrency’s many boom and bust cycles, while governments and financial institutions continue to treat it with disdain, even hostility. , from the feature class.
This is primarily because it prevents cryptocurrencies from establishing their roots. The initial idea for Bitcoin was announced in 2008 at the height of the financial crisis: “a peer-to-peer version of electronic money that allows online payments to be transferred directly from one party to another without going through a financial institution.” Free form write Bitcoin.
But in recent years, the industry has seen the value of Bitcoin to many commercial entities in society. BlackRock, Fidelity, Invesco and others launched their first-ever Bitcoin ETFs earlier this year (the period of Bitcoin’s IPO), and they have been supported by increasing institutional demand for them. Bitcoin’s price is higher. In November, Charles Schwab CEO Rick Wurster said the company planned to enter the cryptocurrency market pending changes expected under the Trump administration.
On Wednesday, Federal Reserve chair Jerome Powell said bitcoin is “just like gold only it’s virtual, it’s digital,” speaking at the DealBook conference. He further clarified that “people are not using it as a form of payment or as a store of value” and that “it’s not a competitor for the dollar, it’s a competitor for gold.”
“We’re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” Mike Novogratz, CEO of Galaxy Digital, said.
Bitcoin has been expected to reach the critical $100,000 level since the US presidential election. However, happy traders pushed Bitcoin even closer to that level than initially expected, and on November 22, the price of Bitcoin rose to $99,849.99. coin tax.
