Bitcoin Surpasses $100,000 Mark as CZ Celebrates Community Achievement
Bitcoin #BTC has surpassed $100,000, generating excitement among crypto enthusiasts. Binance co-founder and former CEO Changpeng Zhao (CZ) acknowledged this milestone on December 4, noting that while its price rose, he maintained the same amount of Bitcoin, indicating a relative decrease in the cost of other assets.
Them: congrats! you made a lot of money on bitcoin, right?
Me: No, not exactly. I still have the same number of bitcoins. It's just that everything else became a little cheaper, relative to bitcoin.
— CZ 🔶 BNB (@cz_binance) December 5, 2024
CZ's comments reflect a perspective in the crypto community where Bitcoin serves as a store of value rather than merely a fiat-priced asset.
Long-Term Holders Eye Future Bear Markets and Value Preservation
Crypto content creator AB responded to CZ's post, expressing intent to hold Bitcoin longer. He anticipates the next bear market may see Bitcoin bottom between $60,000 and $80,000 and emphasized that his goal is value preservation rather than profit.
Me: Not exactly, I’m not selling my Bitcoin. My plan is to hold onto it long-term. I believe the next bear market could see a bottom in the $60k-$80k range, so I’ll keep holding and potentially accumulate more. It’s not just about making money—it’s about preserving value. Bitcoin…
— AB (@Abrlien) December 5, 2024
Dormant Bitcoin Wallets Reactivate as BTC Hits New Milestone
Whale Alert reported that an old Bitcoin wallet, inactive for 13 years, was accessed, containing 50 BTC that was worth $219 in 2011 but is now valued at over $5.16 million. Another wallet dormant for over 12 years also reactivated, holding 10 BTC, originally worth around $50 in 2012, now valued at approximately $1.23 million.
The activation of these dormant wallets coincides with Bitcoin's new price milestone, currently trading at $102,835. Many Bitcoin enthusiasts anticipate further price increases, which may positively impact altcoins as well.