Wednesday marked a historic moment for Bitcoin as it soared past the highly anticipated $100,000 threshold. This milestone arrives just over 15 years after the mysterious creator, Satoshi Nakamoto, introduced the world to the original cryptocurrency.
According to market data, Bitcoin reached over $101,000 shortly after 9:45 PM ET. Starting the year at just over $44,000, Bitcoin’s value has surged by more than 120%, repeatedly setting new records throughout November before finally achieving this significant breakthrough.
Since its creator—or creators—mined the genesis block in January 2009, Bitcoin has undergone a remarkable transformation. What began as an obscure digital experiment is now the most valuable cryptocurrency by market capitalization.
Rooted in cypherpunk philosophy, Bitcoin was designed as a decentralized currency. It enables peer-to-peer transactions without central authority and records them on an immutable, tamper-resistant ledger.
Over the years, Bitcoin evolved from a digital novelty with little monetary value—often associated with niche online purchases—into one of the world’s most sought-after assets. Today, it is regarded by institutional investors and asset managers as a compelling hedge against inflation. With the recent success of Bitcoin ETFs, even Wall Street has joined the movement.
In the past decade alone, Bitcoin’s value has increased by more than 14,250%.
A Landmark Year for Bitcoin
The recent surge is fueled by a series of favorable developments within the cryptocurrency industry this year.
The approval of U.S.-listed spot Bitcoin ETFs in January significantly boosted investor interest and capital inflow. After years of regulatory hesitation, the Securities and Exchange Commission (SEC) finally gave the green light to these financial products.
This decision opened the doors for a broader range of investors—including those previously hesitant due to custody and security concerns—to gain exposure to Bitcoin as easily as they would to traditional assets like gold, foreign currency, or S&P 500 index funds.
Major financial institutions, including Goldman Sachs and Tudor Investment Corporation, led by Paul Tudor Jones, have acquired Bitcoin exposure through these ETFs.
The unexpected victory of former President Donald Trump in the November 5th election further propelled the market upward—a trend market participants aptly termed the "Trump Trade."
During his campaign, Trump emerged as a vocal supporter of the cryptocurrency industry. He promised to promote and preserve Bitcoin mining operations in the U.S. and even suggested building a national Bitcoin reserve.
With Trump returning to the White House, investors are optimistic about the growth of the crypto sector under his administration. Current SEC Chair Gary Gensler, appointed by President Joe Biden, has been criticized for his aggressive regulatory stance and multiple lawsuits against crypto exchanges and firms.
As Gensler prepares to step down, industry observers anticipate a more favorable regulatory environment. Earlier on Wednesday, Trump nominated former SEC commissioner Paul Atkins for the role, pending Senate confirmation.
Many believe a Republican-led financial regulatory body will adopt a more crypto-friendly approach, potentially ushering in a "golden era" for digital assets.
Frequently Asked Questions
What caused Bitcoin to reach $100,000?
Several factors contributed to this milestone, including the approval of Bitcoin ETFs, increased institutional investment, and positive political developments encouraging market optimism.
How does Bitcoin’s technology work?
Bitcoin operates on a decentralized ledger called the blockchain. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger.
Is Bitcoin a safe investment?
While Bitcoin has shown significant growth, it remains a volatile asset. Investors should conduct thorough research and consider their risk tolerance before investing. 👉 Explore more investment strategies
What is an ETF and how does it relate to Bitcoin?
An ETF (Exchange-Traded Fund) tracks the price of an asset. Bitcoin ETFs allow investors to gain exposure to Bitcoin without directly holding the cryptocurrency.
Who is Satoshi Nakamoto?
Satoshi Nakamoto is the pseudonymous person or group who created Bitcoin and authored its original whitepaper. Their true identity remains unknown.
Can Bitcoin be used for everyday purchases?
While acceptance is growing, Bitcoin is primarily viewed as a store of value. Some merchants do accept it, but transaction speeds and volatility can be limiting factors for daily use.