Bitcoin breaks $100,000 barrier first time in history

After weeks of hovering near the six-figure threshold, Bitcoin’s value surged, driven by optimism about potential crypto-friendly policies under President-elect Donald Trump and a booming stock market encouraging diversification into cryptocurrencies.

Exactly one year ago, Bitcoin, first introduced in 2009, was priced at approximately $44,000, representing an extraordinary 127% surge in value. This growth gained momentum after the Securities and Exchange Commission (SEC) approved exchange-traded funds (ETFs) tied to Bitcoin’s price, bridging the gap between traditional finance and the crypto market and adding legitimacy to Bitcoin.

The milestone coincided with Trump’s announcement of plans to nominate Paul Atkins, a former SEC commissioner known for his pro-crypto stance, to lead the Wall Street regulator. This shift signals a significant departure from the policies of current SEC Chair Gary Gensler.

The $100,000 breakthrough sparked global celebrations among cryptocurrency enthusiasts. Online watch parties drew millions as Bitcoin’s price inched closer to the landmark, a moment long anticipated in the crypto community.

Bitcoin’s price serves as a key indicator of confidence in the cryptocurrency market, now valued at $3.3 trillion, according to Coin Market Cap. Trump’s pledge to make the U.S. the “crypto capital of the planet” further fueled excitement.

The rise is particularly striking given that just two years ago, Trump referred to Bitcoin as a “scam”. Since his election victory last month, Bitcoin’s value has climbed 40%, more than doubling since the start of the year, cementing its place as a cornerstone of the crypto industry.