Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has achieved a historic milestone, surpassing the $100,000 mark for the first time.
Trading at $101,821.14, Bitcoin has surged by 5.48% in the past 24 hours, bringing its market capitalization to a staggering $2.02 trillion. The 24-hour trading volume has also spiked, witnessing a rise of more than 65%.
Coinbase Co-Founder Says “$100 Bitcoin In 2012 Is $1.5 Million Today”
This momentous event solidifies Bitcoin’s position as a transformative financial asset. Coinbase co-founder and CEO Brian Armstrong celebrated the occasion on X (Twitter), emphasizing Bitcoin’s remarkable journey and its potential for the future.
He stated, “If you bought $100 of Bitcoin when Coinbase was founded in June 2012, it would now be worth about $1,500,000. Bitcoin is the best-performing asset of the last 12 years, and it’s still early days.”
Armstrong urged governments to adopt Bitcoin as a hedge against inflation by creating strategic Bitcoin reserves.
Bitcoin’s Journey
Bitcoin’s journey has been nothing short of extraordinary. The cryptocurrency first gained mainstream attention in 2011 when it crossed the $1 price mark on February 2. By March 31, 2013, it had broken the $100 barrier, a moment widely covered by financial outlets like CNBC.
Over the years, Bitcoin has cemented its reputation as a resilient and valuable asset, weathering regulatory scrutiny and market volatility to reach its current peak.
The recent surge is attributed to significant political and regulatory changes in the United States.
The Republican victory in November’s elections marked the end of the perceived “war on crypto” under the Biden administration and SEC Chair Gary Gensler. The appointment of former SEC commissioner Paul Atkins as the new SEC Chair by President-elect Donald Trump further fueled optimism within the crypto community.
Trump’s endorsement of Atkins’ pro-crypto stance was evident in his Truth Social post, where he highlighted Atkins’ belief in digital assets as essential to America’s economic growth.
This regulatory shift has instilled confidence among investors and institutions alike, contributing to Bitcoin’s meteoric rise. Analysts suggest that this political support for cryptocurrencies could pave the way for broader adoption and integration into traditional financial systems.
Bitcoin and Traditional Assets
Bitcoin’s performance has consistently outpaced traditional assets, proving its potential as a store of value. Armstrong’s comparison of Bitcoin’s value to inflation illustrates its appeal. A $100 investment in Bitcoin in 2012 would now be worth $1.5 million, while the same amount in cash would lose significant purchasing power today.
As Bitcoin celebrates its $100,000 milestone, it is clear that its influence extends far beyond financial markets. It represents a growing acceptance of decentralized assets as a critical component of the global economy. With a pro-crypto regulatory environment and increasing institutional interest, Bitcoin’s journey is far from over.