Bitcoin has reached $100,000 for the first time, marking a significant milestone for the cryptocurrency market. The cryptocurrency’s value has increased by more than 126% since the beginning of 2024, thanks to significant demand for Bitcoin exchange-traded funds (ETFs), a supply squeeze following its halving event in April, and a shift in the US political environment with Donald Trump’s presidential election victory.
When Bitcoin reached $100,000 on December 5, it immediately struck a new all-time high, rising to $104,000 shortly thereafter. Institutional investment and growing corporate interest in digital assets have driven this substantial increase. The market capitalization of Bitcoin has achieved a significant milestone, surpassing $2 trillion, despite its initial value of only a few cents.
The adoption of Bitcoin ETFs by large financial institutions such as BlackRock and Fidelity has played a significant role in Bitcoin’s current surge, garnering billions of dollars in investments. Companies like MicroStrategy have pushed corporate adoption, driving up Bitcoin’s price as businesses continue to collect enormous amounts of the digital currency.
The political landscape has aided Bitcoin’s growth, with Trump’s win and crypto-friendly posture instilling confidence in the industry. This spike occurs at a time when Bitcoin’s overall market value approaches the combined value of some of the world’s top corporations, highlighting its growing prominence as a financial asset.
