Bitcoin reaches $100,000 for the first time

Bitcoin (BTC) has reached $100,000 for the first time, representing a major milestone for the cryptocurrency. This price was recorded across major cryptocurrency exchanges following steady growth in recent weeks.

Bitcoin’s six-digit price was first recorded on the evening of December 4, 2024. The $90,000 mark had been surpassed less than a month ago, in the wake of U.S. President-elect Donald Trump’s election victory.

During his campaign, the President-elect pledged to make the United States the “Bitcoin and cryptocurrency capital of the world.”

According to Reuters, U.S. spot Bitcoin exchange-traded products had drawn approximately $4.2 billion in inflows by mid-November following Trump’s election victory, accounting for about 15% of the total inflows since their launch on U.S. stock exchanges in January.

According to Reuters, Justin D’Anethan, a Hong Kong-based independent crypto analyst, stated, “Bitcoin crossing $100,000 is more than just a milestone; it’s a testament to shifting tides in finance, technology, and geopolitics.” He added, “The figure not that long ago dismissed as fantasy, stands as a reality.”

Market analysts have also pointed to geopolitical uncertainty and inflationary pressures as factors influencing Bitcoin’s price movement, with the cryptocurrency often regarded as an alternative store of value. Increased adoption and exploration of Bitcoin by governments and financial institutions have further contributed to rising demand.