Bitcoin Reaches New All-Time High of $103,000
A single bitcoin is now valued at $100,000 as the cryptocurrency prepares for President-elect Donald Trump's inauguration. This marks a significant achievement as bitcoin has surpassed previous all-time highs against gold and major stock market indexes.
Starting the year around $42,000, bitcoin's price has more than doubled. Currently, it is trading at approximately $103,000 on Coinbase, according to TradingView data.
This development follows the announcement of Paul's Atkins nomination for SEC chair, who has experience with crypto clients.
Bitcoin's milestone highlights its growth from $0 to a $2 trillion asset over 15 years, as noted by Galaxy’s Alex Thorn. The year 2024 has seen multiple milestones, including the launch of bitcoin ETFs and the halving event.
MicroStrategy recently increased its debt offering from $1.75 billion to $2.6 billion due to high demand, totaling $3 billion. The firm plans to invest this capital into acquiring more bitcoin.
Prior to reaching $100,000, GSR’s Brian Rudick indicated that bitcoin could continue to rise post-six figures, driven by potential pro-Bitcoin appointments in the Trump administration and possible changes in SEC enforcement under new leadership.
The $100,000 valuation positions bitcoin as the seventh most valuable asset globally, valued at roughly $2 trillion, just behind companies like Google and Amazon.
The question remains whether this six-figure record will trigger an altcoin season among market participants.