Bitcoin Breaks $100,000 Milestone, Signaling a New Era for Cryptocurrencies

Bitcoin

Key Points

  • Bitcoin surpassed $100,000 for the first time, driven by institutional adoption and a pro-crypto U.S. administration.
  • The cryptocurrency market reached nearly $3.8 trillion. In 2024, institutional investors purchased 3% of Bitcoin’s total supply.
  • Regulatory optimism is bolstered by Trump’s appointment of crypto-friendly Paul Atkins as SEC nominee.
  • Despite challenges like energy usage and crime concerns, Bitcoin’s role in finance continues to solidify.

Bitcoin surged past $100,000 for the first time, marking a pivotal moment for cryptocurrencies as investors anticipate favorable policies from a pro-crypto U.S. administration. The total cryptocurrency market value has soared to nearly $3.8 trillion this year. Bitcoin’s climb reflects its journey from a niche libertarian concept to a recognized asset class embraced by Wall Street, minting millionaires and fueling the rise of decentralized finance.

The value of cryptocurrency has more than doubled in 2024 and has risen over 50% since Donald Trump’s recent presidential victory, bringing numerous crypto-friendly lawmakers to Congress. Bitcoin quickly surpassed the $100,000 mark during Thursday’s Asian trading session, reaching $103,335. Mike Novogratz, CEO of Galaxy Digital, called this a “paradigm shift,” emphasizing the growing institutional adoption, advancements in tokenization, and regulatory clarity propelling cryptocurrencies into the financial mainstream.

Trump’s administration has catalyzed the rally, promising to establish the U.S. as the global hub for crypto innovation and to build a national bitcoin reserve. The appointment of Paul Atkins, a crypto policy veteran, as the nominee to lead the Securities and Exchange Commission signals a potential shift in regulatory oversight. Atkins’ experience with digital asset policy has been welcomed by industry leaders who anticipate collaboration to drive innovation.

Despite Bitcoin’s history of volatility, including a drop below $16,000 in 2022 during the FTX collapse scandal, its resilience has fueled confidence. Institutional investors have played a key role in this year’s record-breaking surge, with U.S.-listed bitcoin exchange-traded funds approved in January funneling over $4 billion into the market. Analysts estimate that roughly 3% of Bitcoin’s total supply will be purchased by institutional players in 2024, signaling an increasing normalization of digital assets.

The financialization of Bitcoin continues to expand with developments like futures, BlackRock’s ETF, and booming crypto-related stocks. Companies like Coinbase and MARA Holdings have seen significant gains, mirroring Bitcoin’s rise. Trump’s new crypto venture, World Liberty Financial, adds further intrigue to the growing ecosystem, supported by crypto advocate Elon Musk.

While concerns over energy use, crypto-related crime, and technological challenges remain, Bitcoin’s unprecedented rise underscores its resilience. Russian President Vladimir Putin’s recent remarks reflect its global momentum, asserting that no one can prohibit its growth. Economists acknowledge Bitcoin’s unpredictable value but recognize its established role in the evolving financial landscape.

EDITORIAL TEAM
EDITORIAL TEAM
TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

Read More

We are highly passionate and dedicated to delivering our readers the latest information and insights into technology innovation and trends. Our mission is to help understand industry professionals and enthusiasts about the complexities of technology and the latest advancements.

Visits Count

Last month: 99286
This month: 5904 🟢Running

Company

Contact Us

Follow Us

TECHNOLOGY ARTICLES

SERVICES

COMPANY

CONTACT US

FOLLOW US