Bitcoin, the world’s leading cryptocurrency by market capitalization, crossed the $100,000 mark on Thursday, marking a historic milestone in its 15-year history.
Launched in January 2009, Bitcoin reached an all-time high of $103,587 at 5:05 a.m. on Thursday, after closing at $98,318.24 the previous day, according to CoinMarketCap. As of 9:14 a.m., it had settled at $102,635.02.
The cryptocurrency market capitalization soared to $3.81 trillion, adding $477 billion in just 24 hours. Bitcoin accounted for 52.8% of the market share, with Ethereum, the second-largest cryptocurrency trading at $3,860, holding 12.1%. Other cryptocurrencies shared the remaining 35.1%.
Bitcoin’s meteoric rise began on November 5, following Donald Trump’s victory in the U.S. presidential election. On the same day, the digital asset surged to $75,000. It crossed $80,000 on November 10, reached $89,000 two days later, and surpassed $92,000 on November 13.
The rally has been attributed to optimism over a potential crypto-friendly regulatory environment under Trump’s administration. Reports suggest that Trump’s nomination of Paul Atkins as chairman of the Securities and Exchange Commission (SEC) has fueled positive sentiment in the market. Atkins, a co-chair of the Token Alliance under the Chamber of Digital Commerce, is known for advocating for the crypto industry.
Charles Hoskinson, founder of the cryptocurrency Cardano, projected that Bitcoin’s price could rise to $250,000 within two years. He described this as the lowest target, suggesting the potential for the price to reach as high as $500,000.
