Bitcoin has just surpassed the $100,000 mark for the first time, setting a new record high. This milestone is partly driven by optimism surrounding US President-elect Donald Trump’s potential crypto-friendly policies. Trump’s nomination of Paul Atkins, a former SEC commissioner, to head the Wall Street regulator further fueled Bitcoin’s surge. Atkins is seen as a strong proponent of cryptocurrency, unlike the current SEC head, Gary Gensler.
For weeks, Bitcoin enthusiasts speculated about the $100k milestone, with many even hosting watch parties as the price neared this mark. This surge also follows Trump’s election victory, which is seen as a key catalyst for Bitcoin’s rise. Trump’s past remarks, calling Bitcoin a “scam” in 2021, make his support for crypto a remarkable shift.
Bitcoin’s price increase has not only excited investors but also highlighted the vast growth of the cryptocurrency industry, now valued at $3.3 trillion. Alongside this financial rise, Bitcoin’s journey has been marked by pivotal moments that have shaped its history.
One of the most notable was the mysterious creation of Bitcoin, attributed to an anonymous figure known as Satoshi Nakamoto. Despite widespread speculation, no one knows the true identity of Nakamoto. The first-ever Bitcoin transaction occurred in 2010, when Laszlo Hanyecz paid 10,000 Bitcoins for two pizzas, now worth hundreds of millions.
In 2021, El Salvador made Bitcoin legal tender, sparking a brief tourism boost, though the currency did not gain widespread adoption. Meanwhile, Kazakhstan’s Bitcoin mining boom quickly turned to bust due to energy shortages caused by excessive mining activity.
Other moments include the heartbreaking story of James Howells, who accidentally threw away a hard drive containing $100 million worth of Bitcoin, and the rise and fall of Sam Bankman-Fried, the “Crypto King.” Bankman-Fried’s fraud scandal shook the industry, leading to his conviction for money laundering and fraud.
Despite its tumultuous history, Bitcoin continues to grow, with major financial firms like Blackrock now adding it to their asset lists. This latest surge indicates that Bitcoin may be closer to becoming a mainstream financial asset.
