NEWYORK: For the first time ever, the value of Bitcoin has exceeded $100,000, marking a historic milestone for digital currencies.
Currently, the world’s largest cryptocurrency is trading at just over $102,000. Since the start of 2024, Bitcoin’s price has risen by over 140%, with a 48% increase observed following the U.S. presidential election.
Bitcoin crossed the $100,000 mark shortly after re-elected President Donald Trump appointed Paul Atkins as head of the Securities and Exchange Commission (SEC). Atkins is known for supporting relaxed regulations on cryptocurrencies.
During his campaign, Trump expressed a keen interest in digital currencies. He promised to replace SEC Chair Gary Gensler, who had previously imposed strict measures on the crypto industry.
Bitcoin has seen significant price fluctuations over the years, with rapid spikes often followed by sharp declines. However, experts believe that the current surge is closely tied to evolving U.S. policies. Analysts predict Bitcoin’s value could rise further in the coming months.
On December 4, Federal Reserve Chair Jerome Powell compared Bitcoin to gold, emphasizing its virtual and digital nature. Speaking at a conference, he noted that Bitcoin is not used for payments nor considered a competitor to the dollar.
Experts suggest that after years of political and regulatory battles, cryptocurrencies like Bitcoin are increasingly becoming part of mainstream financial systems.
Interestingly, Donald Trump, who once dismissed Bitcoin as a fraud, has emerged as a strong advocate for digital assets during his recent campaign.
In the coming months, Trump is expected to announce several pro-crypto measures. Potential initiatives include creating a National Strategic Bitcoin Reserve and making cryptocurrency transactions tax-free.
Bitcoin, introduced in 2008 by the pseudonymous Satoshi Nakamoto, was designed as a decentralized financial system outside the control of governments and banks.
Analysts believe the combination of Trump’s pro-crypto stance and regulatory changes will further solidify Bitcoin’s position in global markets. The historic $100,000 milestone may only be the beginning of its upward trajectory.
This unprecedented growth underscores the increasing acceptance of cryptocurrencies as a legitimate part of the financial ecosystem. Experts anticipate further innovations and policies that could shape the future of digital assets.
