Bitcoin hits $100,000 for the first time in history. Surges to all-time high price of $103,000
Nickie Louise
Posted On December 4, 2024
The price of Bitcoin reached an all-time high of $103,000 on Wednesday, breaking the $100,000 milestone for the first time in its history. This achievement marks a pivotal moment for the cryptocurrency market, capping off a year of substantial growth and shifting dynamics.
Bitcoin BTC $103,124 crossed the $100,000 threshold on Dec. 5, following its previous milestone of $90,000 just weeks earlier on Nov. 12, as reported by TradingView. Shortly after surpassing the $100,000 mark, Bitcoin set a new all-time high of $103,679.
Prominent Bitcoin advocate Michael Saylor marked the milestone with a celebratory post on X, sharing a lively party video.
“There is going to be a 100K Party. 🚀,” Saylor said.
There is going to be a 100K Party. 🚀https://t.co/Vo52KQZRe5
— Michael Saylor⚡️ (@saylor) December 5, 2024
A Year of Momentum
The cryptocurrency’s rise has been bolstered by more than $31 billion in net inflows from spot Bitcoin exchange-traded funds (ETFs) in the United States. Bitcoin’s fourth halving in April, which reduced the rate of new supply entering the market, has further tightened availability and driven up demand.
Political developments have also played a significant role. Donald Trump’s victory in the U.S. presidential election has sparked speculation about a strategic Bitcoin national reserve. His pro-crypto cabinet picks, including Paul Atkins as the nominee to replace Gary Gensler as SEC chair, have lifted industry optimism. Atkins’ stance could ease regulatory constraints that have hindered growth under the previous administration.
In addition, Trump’s nominations of hedge fund manager Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick to lead the Treasury and Commerce departments, respectively, signal what many are calling the most crypto-friendly U.S. administration to date.
Corporate Adoption and Market Impact
Corporate interest in Bitcoin continues to rise, led by figures like MicroStrategy’s Michael Saylor. The momentum has helped push Bitcoin’s market capitalization to $2 trillion for the first time, solidifying its status as a major financial asset.
Since the beginning of the year, Bitcoin has gained 126%, climbing from $44,000 in January to its current levels. The latest rally builds on its history of exponential growth, including a 1,900% surge in 2017 when it climbed from $1,000 to $20,000, and a 1,250% jump from $5,100 in March 2020 to $69,000 in November 2021.
What’s Next?
Bitcoin’s climb to $100,000 represents a psychological and financial milestone, but it’s not the end of its story. Analysts are already speculating about its next potential milestones, with predictions ranging widely for 2024. As the market continues to evolve, Bitcoin remains at the center of a rapidly shifting financial landscape.
The road ahead will likely be shaped by a combination of policy changes, institutional interest, and global economic trends. For now, the cryptocurrency’s historic achievement serves as a testament to its growing significance in both the financial world and beyond.
