The bitcoin has now reached an important milestone.
As crypto gets ready for Donald Trump’s inauguration next month, a single bitcoin now costs $100,000. After the fresh all-time high, bitcoin is truly in price discovery mode — all-time highs have now been smashed against gold and benchmark stock market indexes.
Bitcoin has had a great year. It started out in January at around $42,000. This figure has now been more than doubled.
TradingView reports that Bitcoin has been trading for around $103,000 at the time of this press release, after surpassing $100,000.
It was announced just hours before that the Trump Transition had officially nominated Paul Atkins to be SEC chairman Gary Gensler. Atkins has been a SEC commissioner, and is currently a CEO at a consulting firm whose clients have worked in crypto.
Bitcoin hits the landmark underscores “BTC as the revolutionary asset its advocates have long championed. You cannot afford to ignore an asset that capitalized itself from $0 to $2 trillion in 15 years,” Galaxy’s Alex Thorn spoke to Blockworks.
Bitcoin reached multiple milestones during 2024. The number of all-time records that bitcoin has reached this year is hard to track.
There are also all the positive indicators surrounding the Bitcoin ETFs and MicroStrategy, the hoarder of bitcoins.
MicroStrategy increased its debt offering last month from $1.75 to $2.6 Billion, citing a high demand. It is MicroStrategy’s largest debt offering to date.
Michael Saylor said previously that, yes, the firm would spend its cash to purchase more bitcoins.
Brian Rudick, GSR’s Brian Rudick, said the company believed that bitcoin would continue to rise after it surpassed six figures.
“For instance, Trump is likely to appoint pro-Bitcoiners to key agency and cabinet positions, which can push prices higher. SEC Chair Gensler may resign and the SEC may inform recipients of Wells notices that it will no longer pursue enforcement, or reduce charges / settle existing cases,” Rudick explained. Gensler said on Thursday he will leave the SEC in January when Trump becomes president.
“Further, the impact of having a comprehensive digital assets framework in the US, should it occur, cannot be understated, and would likely ignite a new wave of participation and development, propelling the industry to new heights. And, other countries such as China, wanting to remain competitive in light of the US’s newfound openness, may unban crypto or become more accommodative to the space.”
The $100,000 level values bitcoin at roughly $2 trillion, which — as Rudick pointed out — makes “it the seventh most valuable asset in the world by market cap, just behind the likes of Google and Amazon.”
The next question is whether the record six-figures will translate into a full-fledged altcoins season.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
