Bitcoin has made history by crossing the $100,000 mark for the first time ever, reaching a peak of $103,465.81 on Dec. 5. This milestone has propelled Bitcoin’s market capitalization beyond $2 trillion, marking a significant moment in its journey. The total crypto market cap also surged to a record $3.6 trillion, highlighting the explosive growth of the sector.
The crypto community has reacted with widespread celebrations to this achievement, with many seeing it as a defining moment that solidifies Bitcoin’s position in the global financial landscape. US President-elect Donald Trump even joined in, congratulating Bitcoin holders and attributing the milestone to his incoming administration’s pro-crypto policies. He expressed his excitement by saying, “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!!”
Gemini exchange co-founder Tyler Winklevoss compared this milestone to significant historical events like the moon landing or the fall of the Berlin Wall. Coinbase CEO Brian Armstrong highlighted Bitcoin’s exceptional performance, noting that an investment of $100 in Bitcoin at Coinbase’s launch in 2012 would now yield over $1.5 million. Armstrong suggested that governments consider adopting Bitcoin as a strategic reserve asset to combat inflationary pressures.
Binance founder Changpeng Zhao praised Bitcoin’s resilience over the years and interpreted its price surge as a sign of traditional asset devaluation. Looking ahead, analysts predict that Bitcoin could become the leading “store of value,” surpassing gold within the next decade. Bernstein’s Gautam Chhugani forecasts that Bitcoin’s 141% annual growth, driven by expectations of crypto-friendly US policies, could push the asset to $200,000 by late 2025. Standard Chartered analysts also anticipate Bitcoin doubling in value by the end of 2025, citing factors such as potential integration into sovereign wealth funds and US retirement portfolios as growth catalysts.
Institutional players like MicroStrategy are expected to increase their Bitcoin holdings, further fueling momentum in the coming years. As of 3:38 pm UTC on Dec. 5, 2024, Bitcoin is ranked #1 by market cap, with a price increase of 6.09% over the past 24 hours. It has a market capitalization of $2.02 trillion and a 24-hour trading volume of $134.96 billion. The total crypto market is valued at $3.67 trillion with a 24-hour volume of $360.03 billion, with Bitcoin dominance currently at 54.97%.
Overall, the crypto community is buzzing with excitement over Bitcoin’s historic milestone, and all eyes are now on the future as the digital asset continues to make waves in the financial world.