By Zainab Shafiq 
Bitcoin surged to an all-time high milestone on Thursday, its price breaching the $100,000 mark for the first time. The cryptocurrency hit an all-time high of $103,619 during the Asian trading session, driven by optimism surrounding U.S. President-elect Donald Trump’s pro-crypto administration. The rise represents a 6% surge in just one day, with Bitcoin last trading at $102,650.
The cryptocurrency market has appreciated to a whopping $3.8 trillion, as reported by CoinGecko. To give that perspective, this is roughly equivalent to the valuation of Apple Inc. Bitcoin’s breakthrough signifies its entry from the periphery of libertarian finance into mainstream acceptance. More and more investors are embracing the digital asset, driven by increasing institutional adoption and regulatory clarity.
Bitcoin Hits Record High Amid Pro-Crypto Policies Boosting Momentum
Bitcoin has more than doubled in value this year, gaining over 50% since Donald Trump’s election victory. His campaign’s promises to turn the U.S. into a “crypto capital” have also resonated with investors, particularly with the nomination of Paul Atkins, a staunch crypto advocate, to lead the SEC. Atkins, a former SEC commissioner, has long been involved in shaping digital asset policies. Blockchain Association CEO Kristin Smith called his nomination a sign of “a new wave of crypto innovation.”
This surge reflects a paradigm shift, says Mike Novogratz of Galaxy Digital. He credits institutional investment, tokenization, and advancements in payment systems as key drivers of Bitcoin’s financial mainstreaming.
Bitcoin Reaches All-Time High Despite Past Setbacks
Bitcoin, which two years ago had dipped to under $16,000 following the FTX collapse, is moving into six-figure territory in an astonishing comeback. Institutional buying has dominated this year’s rally, and U.S.-listed Bitcoin ETFs have attracted more than $4 billion in investments since January. According to Geoff Kendrick at Standard Chartered, institutional investors have bought around 3% of Bitcoin’s total supply in 2024.
Crypto-related stocks have also soared. Shares of Coinbase and Marathon Digital have jumped about 65% in November, while MicroStrategy, which holds more than 402,000 bitcoins, has risen 540% this year.
Bitcoin Jumps to Record Amid Regulators’ Scrutiny
Bitcoin’s rise hasn’t been without its challenges. Critics point to energy concerns, crypto crime, and the lack of major technological breakthroughs in global finance. However, industry players argue that Bitcoin’s resilience underscores its staying power. Russian President Vladimir Putin recently remarked,
“Who can prohibit it? No one.”
As Bitcoin continues to cement itself in the financial landscape, AMP economist Shane Oliver notes its unpredictability but concedes that current momentum is firmly on its side.
“I find it very hard to value it … it’s anyone’s guess. But it does have a momentum aspect to it and at the moment the momentum is up.”
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