Bitcoin Surpasses $100,000: A Historic Moment for Crypto!

The price of Bitcoin has surpassed the $100,000 mark for the first time, reaching a new record high and marking another milestone in the cryptocurrency world.

The value of the world's most well-known cryptocurrency has increased, fueled by rising expectations that US President-elect Donald Trump will implement policies that support cryptocurrencies.

Bitcoin hit an all-time high just hours after Trump said he would nominate cryptocurrency advocate Paul Atkins, a former Securities and Exchange Commission (SEC) Commissioner, to lead the SEC. Billionaire Elon Musk, a major Trump ally, is also a proponent of cryptocurrencies.

Atkins is far more cryptocurrency-friendly than current SEC chief Gary Gensler. Crossing the 100,000 mark sparked celebration from cryptocurrency enthusiasts around the world.

Delight in the Crypto World

Bitcoin's wildly fluctuating value has always attracted the interest of investors, with its backers reacting with delight when it crosses previous price thresholds and with defiance during its dips.

But the $100,000 mark was especially eagerly awaited. For weeks, social media has been abuzz with charts, memes, and predictions about when the price will reach the number considered one of the holy grails of the crypto world.

More than a Bitcoin milestone

More than 16 years after its creation, bitcoin appears on the cusp of mainstream acceptance despite sceptics and a history of controversy.

"Bitcoin crossing $100,000 is more than a milestone; it's evidence of a tectonic shift in finance, technology and geopolitics," - Justin D'Anethan, an independent cryptoanalyst in Hong Kong.

The value of one bitcoin is a key measure of optimism within the cryptocurrency industry, which is currently valued at $3.3 trillion, according to the analyst firm Coinmarketcap. The recent surge in prices was primarily triggered by Trump's election victory last month.

The president-elect has promised to make the US the "crypto capital of the planet!"

The $100k valuation represents a 40% increase on US election day and more than double the price at which Bitcoin started the year.