Bitcoin reaches $100,000.
It is the first time that Bitcoin has reached this important milestone.
Bitcoin has surpassed the $100,000 mark, reaching its highest price since its creation over ten years ago, with a recent quotation of $103,359.00, according to data from Kraken. Despite this notable milestone, the value of Bitcoin is still measured in U.S. dollars, solidifying its role as a payment or investment alternative rather than a replacement for fiat currency.
The price of Bitcoin experienced a significant increase following Donald Trump's victory in the 2024 U.S. presidential elections. On election day, Bitcoin was around $69,000, but it subsequently rose to $75,000 after the results were announced, according to information from CoinDesk. Since then, its price has continued to climb as investors anticipate a more favorable environment for cryptocurrencies under Trump's administration.
Donald Trump, who has created his own cryptocurrency platform, pledged to retain the Bitcoin held by the federal government and promised to remove the chairman of the Securities and Exchange Commission, Gary Gensler, who has advocated for the regulation of cryptocurrency companies. Gensler announced that he would leave his position in January.
The final push that drove Bitcoin beyond $100,000 came just hours after Trump made several appointments for his administration, including Paul Atkins, a former SEC commissioner, as his choice to lead the agency. Atkins has served as co-chair of the Token Alliance of the Digital Chamber of Commerce, and Trump stated that he “recognizes that digital assets and other innovations are crucial to making America greater than ever.”
Additionally, other factors also contributed to the rise in Bitcoin's price, such as the launch of options trading on BlackRock's Bitcoin exchange-traded fund, which recorded $1.9 billion in transactions on its first day.
