Bitcoin (BTC) has hit the $100,000 mark for the first time, marking a significant milestone in the cryptocurrency’s history. This record price was observed across major cryptocurrency exchanges following weeks of steady growth.
The historic six-figure price was reached on the evening of December 4, 2024, just weeks after Bitcoin surpassed $90,000 in the wake of U.S. President-elect Donald Trump’s election victory.
During his campaign, Trump vowed to make the United States the “Bitcoin and cryptocurrency capital of the world,” which has been credited with fueling optimism in the market.
Reuters reported that U.S. spot Bitcoin exchange-traded products attracted approximately $4.2 billion in inflows by mid-November, following Trump’s victory. This accounts for about 15% of total inflows since their introduction on U.S. stock exchanges in January.
Justin D’Anethan, a Hong Kong-based independent crypto analyst, commented on the milestone, telling Reuters, “Bitcoin crossing $100,000 is more than just a milestone; it’s a testament to shifting tides in finance, technology, and geopolitics.” He continued, “The figure, once dismissed as fantasy, now stands as reality.”
Analysts have also attributed Bitcoin’s surge to geopolitical uncertainty and inflationary pressures, with the cryptocurrency increasingly viewed as a hedge against traditional financial instability. Growing adoption by governments and financial institutions has further bolstered demand for Bitcoin, driving its price to new heights.