Satoshi

Donald Trump

Bitcoin

Bitcoin has reached a historic milestone, <a href="https://coinmarketcap.com/currencies/bitcoin/">surpassing the $100,000 mark</a> for the first time since its inception 15 years ago. Shortly after Bitcoin hits its all-time high of $103,900.
The cryptocurrency’s market capitalization now stands at $2.04 trillion, contributing significantly to the overall crypto market, which has reached a record $3.68 trillion. This surge is driven by a combination of market dynamics, regulatory developments, and increasing corporate adoption.
<h2 id="the-journey-to-100-000">The Journey to $100,000</h2>
Since November 5, Bitcoin’s price has surged by over 50%. Year-to-date, its value has more than doubled, starting the year at around $44,000. This six-figure milestone is the latest chapter in Bitcoin’s remarkable story, which began with a 2008 white paper by the pseudonymous Satoshi Nakamoto.
Over the years, Bitcoin has evolved from a niche digital currency to a global asset. It has spurred technological innovation, including decentralized finance (DeFi) platforms and non-fungible tokens (NFTs). Despite its achievements, Bitcoin has faced criticism for its role in cybercrime and regulatory challenges.
<h2 id="catalysts-behind-the-surge">Catalysts Behind the Surge</h2>
<ol>
 <li>Bitcoin ETFs: Early 2024 saw the launch of spot Bitcoin exchange-traded funds (ETFs) by major asset managers like BlackRock and Fidelity. These ETFs quickly accumulated over <a href="https://sosovalue.com/assets/etf/us-btc-spot">$31 billion</a> in assets under management, providing a new avenue for institutional investors to access Bitcoin.</li>
 <li>Halving Effect: Bitcoin’s fourth halving in April tightened its supply, creating upward price pressure. The halving event, which reduces the number of new Bitcoins entering circulation, has historically been a catalyst for bull markets.</li>
 <li>Political and Regulatory Shifts: The victory of pro-crypto Republican Donald Trump in the U.S. presidential election brought optimism to the market. Trump’s nomination of Paul Atkins, a known crypto advocate, as SEC chair, signaled potential regulatory relief. Additionally, his pro-crypto cabinet picks have supported the market sentiment.</li>
 <li>Corporate Adoption: Companies like MicroStrategy, led by Michael Saylor, have continued to embrace Bitcoin. MicroStrategy now <a href="https://bsc.news/post/micro-strategy-acquires-additional-1-5-billion-bitcoin-expands-holdings-to-402-100">holds over 386,700 BTC</a>, valued at more than $38 billion. Other corporations, including tech giants like Microsoft, are exploring Bitcoin treasury strategies.</li>
</ol>
At $100,000, Bitcoin’s market cap rivals some of the world’s largest companies. With a valuation of $2.04 trillion, Bitcoin is just behind tech giants like Amazon and Google, each valued at $2.2 trillion. It remains a fraction of the total global gold market, which stands at $17.7 trillion, but its rapid growth showcases its potential as a store of value.

Bitcoin Hits Historic $100K, Market Cap Soars Above $2T

Table of Contents

BSCN

Other articles published on Dec 10, 2024

CryptoAutos Announces TGE for $AUTOS Token Following Sold-Out Public Sale

Chainlink Partners with 21X to Launch First EU-Regulated Tokenized Securities Market

AutoZone Falls Short of Market Expectations with $32.52 EPS for Q1 FY’25

How South Korea’s Political Crisis is Reshaping Investment Trends

$EIGEN Activity Spikes: 2-Year-Old Wallet Withdraws $9M from Binance

DNA and Chintai Partner to Launch DNA Deal Desk, A Fully On-Chain Investment Platform (10 Dec)

Join our free newsletter for daily crypto updates!