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Bitcoin Surpasses $100,000 For The First Time
Bitcoin, the world’s largest cryptocurrency, has reached a monumental milestone, surpassing $100,000 for the first time and setting a new all-time high.
EKO HOT BLOG reports that the rally comes on the back of optimism that U.S. President-elect Donald Trump will usher in policies favouring the cryptocurrency sector.
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This sentiment was further fueled by Trump’s announcement to nominate Paul Atkins, a former Securities and Exchange Commission (SEC) commissioner and a known crypto advocate, as the new head of the regulatory body. Atkins is perceived as significantly more crypto-friendly than the current SEC Chair, Gary Gensler.
The $100,000 milestone has sparked celebrations across the global cryptocurrency community, with enthusiasts hailing the event as a landmark moment.
Social media platforms have been flooded with memes, predictions, and countdowns in anticipation of Bitcoin reaching the figure often described as a “holy grail” of the crypto world.
Online watch parties also attracted millions as the price edged closer to the historic threshold.
Bitcoin’s value is often viewed as a barometer of sentiment within the cryptocurrency industry, which is now estimated to be worth $3.3 trillion, according to Coin Market Cap.
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This particular surge was catalyzed by Trump’s surprising pivot on cryptocurrency. Once a vocal critic who labelled Bitcoin a “scam” in 2021, Trump has since promised to make the U.S. the “crypto capital of the planet.”
The $100,000 price represents a 40% surge since Trump’s election victory last month and more than double the value of Bitcoin at the start of the year.
Beyond its soaring price, Bitcoin’s journey has been a fascinating saga. From its mysterious creation by an enigmatic inventor to the rise and fall of prominent figures like the so-called “Crypto King,” Bitcoin continues to captivate the world, serving as both a symbol of innovation and a rollercoaster for fortunes gained and lost.
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