Bitcoin is on the verge of hitting the historic $100,000 mark, extending its record-breaking rally this week. As of Thursday afternoon, Bitcoin was trading at an all-time high of $98,558, peaking earlier at $99,027, just shy of the six-figure milestone. Crypto enthusiasts are already calling $100,000 the next inevitable stop.
So, what’s driving this surge?
Several key factors are at play. First, President-elect Donald Trump’s pro-crypto stance has sparked optimism in the market. He’s promised to make the U.S. the “crypto capital of the planet” and even floated the idea of creating a national Bitcoin reserve. This has energized both retail and institutional investors.
Second, companies like MicroStrategy—the largest corporate Bitcoin holder—continue to buy heavily, reinforcing confidence in the digital asset. Add to that the introduction of Bitcoin exchange-traded funds (ETFs) earlier this year, which have opened up Bitcoin investing to a broader range of institutional investors.
Bitcoin’s meteoric rise has been nothing short of astonishing. The cryptocurrency has doubled in value this year, climbing 40% in just two weeks since Trump’s election win and the rise of pro-crypto lawmakers in Congress. After falling below $16,000 last year, Bitcoin’s rebound has been fueled by a wave of mainstream acceptance.
According to Alicia Kao, managing director at KuCoin, “Everyone who’s ever bought Bitcoin is currently in profit.” Early adopters who held on despite government and institutional pushback are seeing the biggest rewards—not just financially, but in validation of their belief in the technology.
Sixteen years after its creation, Bitcoin is no longer a fringe asset. With its current momentum and growing support, the cryptocurrency is on the brink of becoming a central piece of the global financial system.
The question now is: Will Bitcoin break $100,000 before the week is over? Let us know what you think in the comments below!
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