A Historic Day for the Crypto Market: Bitcoin Surpasses 100k

Bitcoin, the first and largest cryptocurrency, has officially surpassed the $100,000 mark.

A Historic Day For The Crypto Market Bitcoin Surpasses 100k

Over the past month, the cryptocurrency investment community has been abuzz with excitement over Bitcoin’s astonishing achievements. The leading digital currency has repeatedly shattered price records, especially following the announcement of the U.S. presidential election results on November 6.

The pinnacle of this streak came on the morning of December 5, 2024, when Bitcoin once again shook the market by surpassing the $100,000 mark, even climbing to $103,000. This historic milestone comes nearly 16 years after Satoshi Nakamoto introduced Bitcoin through the genesis block on October 3, 2009.

Bitcoin Surpasses 100k
Bitcoin Surpasses 100k

With this remarkable surge, Bitcoin’s market capitalization has reached $2.024 trillion, making it the 7th most valuable asset globally. Notably, Bitcoin is now closing in on tech giants Alphabet (Google’s parent company) and Amazon, with the market cap gap between them narrowing to just a few hundred billion dollars. Meanwhile, gold continues to lead the rankings with a market cap of $17.931 trillion, followed by NVIDIA, Apple, and Microsoft.

BTC
Bitcoin

The primary catalyst for this impressive price rally is the robust wave of investments flowing into U.S.-based Bitcoin spot ETFs. The inflow into these funds has hit a record high, surpassing the previous peak set in March 2024. This trend has been further bolstered by the launch of Bitcoin ETF options and Bitwise’s proposal for a multi-asset ETF fund, which includes 10 different cryptocurrencies.

Additionally, several other factors have contributed to Bitcoin’s upward momentum. Publicly traded companies such as MicroStrategy, Metaplanet, Semler Scientific, and MARA Holdings have continued to increase their Bitcoin holdings through convertible bond issuances. Notably, MicroStrategy alone invested an additional $12.5 billion last month.

The adoption of Bitcoin has also expanded into the public sector, with U.S. states like Florida, Michigan, and Pennsylvania beginning to integrate cryptocurrencies into administrative operations. Furthermore, international financial institutions and businesses, such as a pension fund in the United Kingdom, Jiva Technologies in Canada, and SOS Ltd in China, are increasingly incorporating Bitcoin into their operations.

Support from influential figures in the U.S. government, including newly appointed Health Secretary Robert F. Kennedy Jr. and Senator Cynthia Lummis, along with pro-cryptocurrency policies from President Donald Trump’s administration, have further boosted investor confidence.

Related: Russian President Vladimir Putin Affirms: No One Can Ban Bitcoin

Bitcoin’s bullish momentum has had a positive impact across the cryptocurrency market, particularly on leading coins like ETH, BNB, SOL, and XRP. One standout development is the explosive growth of projects related to artificial intelligence (AI). The AI Agent trend, in particular, is playing a pivotal role in driving the current market expansion.

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