Bitcoin Surpasses $100,000: A Landmark Achievement and the Journey Behind It

Bitcoin broke the magic mark of $100,000 last night for the first time in its 16-year history. The Bitcoin price curve then climbed to a new all-time high of almost $104,000.

Euphoria on the crypto markets: BTC is trading at around $102,000 this Thursday morning. During the night, the BTC price curve exceeded the hurdle of $100,000 for the first time in its history, which began at the end of 2008 with the famous Bitcoin white paper by Satoshi Nakamoto. Now a new all-time high for Bitcoin is in the books, which was recorded in the early hours of the morning at just under $104,000.

In recent days, there has been increasing discussion about why the magic mark of $100,000 was a problem for BTC. It was often said that too many BTC were being placed for sale at prices just under $100,000. Others said that the Bitcoin ETFs needed support from the crypto markets to finally drive BTC into six-figure price regions. In the end, however, Bitcoin’s record hunt went off seemingly effortlessly.

News about SEC and Fed positive for Bitcoin

Previously, there had been two daily news items that made it clear beyond the crypto scene that Bitcoin plays a special role in Donald Trump’s plans for office as US President. Trump nominated Paul Atkins as the future head of the Securities and Exchange Commission (SEC).

Atkins is generally positive about Bitcoin and Co. and is to replace Gary Gensler, who waged a “war on crypto” for four years. This made it clear: Trump’s election campaign that he would become a Bitcoin President was not a bluff, but that BTC should actually play a prominent role in his program.

Also yesterday, the head of the US Federal Reserve, Jerome Powell, commented on the function of Bitcoin and struck a tone that was unexpected for him. At a conference , Powell said that BTC “is not a competitor for the dollar, but a real competitor for gold.” In doing so, Powell is essentially paving the way for Trump’s plan to expand US monetary policy to include a strategic Bitcoin reserve. The crypto currency BTC “is like gold, only virtual,” Powell said. This much respect for Bitcoin had never been heard from the Fed’s leadership before.

What’s next for Bitcoin?

Trump will officially take over the White House on January 20th and will then likely begin implementing his pro-Bitcoin policy. Matt Hougan from Bitwise recently presented a model calculation that includes the BTC reserve announced by Trump and then comes up with a price target of $500,000.

Dan Morehead from asset manager Pantera goes one step further in his forecast and considers a Bitcoin price of $740,000 in spring 2028 to be realistic. Both experts are convinced that Bitcoin has the potential to replace gold as the number one store of value worldwide.

Conclusion: Early Christmas for Bitcoin

The celebratory mood surrounding Bitcoin is logical: BTC has now become a profitable business for every direct investor and the price levels of over $100,000 that have now been reached suggest little resistance. However, you should be careful: There are signs that the outgoing US government wants to sell off confiscated Bitcoin in its final weeks.

And compensation from the Mt. Gox hack has just been put in motion again. It is therefore conceivable that the BTC price curve will be subjected to pressure again in the short term. But fundamentally, a new chapter in the history of Bitcoin seems to be beginning – all those who have mocked BTC over the last decade were wrong.

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(Featured image by Pixabay via Pexels)

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