Bitcoin surged past $100,000 for the first time on Thursday, a milestone celebrated even by sceptics as a defining moment for cryptocurrencies. Investors are optimistic about a favourable US administration solidifying the role of digital assets in financial markets.
The total cryptocurrency market value has nearly doubled this year, reaching a record just shy of $3.8 trillion, according to CoinGecko. For context, Apple’s valuation stands at approximately $3.7 trillion.
Bitcoin’s journey from its libertarian origins to becoming a Wall Street asset has created millionaires, introduced a new asset class, and popularised “decentralized finance.” Its 16-year history has been marked by volatility and controversy, yet it continues to reshape global finance.
The cryptocurrency has more than doubled in value this year and risen over 50% in the four weeks following Donald Trump’s sweeping election victory, which also ushered in several pro-crypto lawmakers to Congress.
After breaking the $100,000 barrier during Thursday’s Asian trading session, Bitcoin quickly climbed past $103,000, trading at $103,335 in its latest rally.
via Reuters
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