Bitcoin, the world’s largest cryptocurrency by market capitalization, has reached a historic milestone, crossing the $100,000 mark for the first time since its inception in 2009.
The digital asset hit an all-time high of $103,587 early Thursday morning before settling at $102,635 by 9:14 AM (GMT+1), according to CoinMarketCap.
This surge has pushed Bitcoin’s share of the cryptocurrency market to 52.8%, contributing significantly to the market’s total capitalization, which now stands at $3.81 trillion.
Bitcoin’s recent rally began on November 5, coinciding with Donald Trump’s victory in the U.S. presidential election.
The win spurred optimism within the crypto community due to expectations of a regulatory environment favorable to digital assets under Trump’s administration.
The market received further support after Trump nominated Paul Atkins, a known crypto advocate and co-chair of the Token Alliance, to lead the Securities and Exchange Commission (SEC).
This development has been interpreted as a move toward fostering innovation and adoption in the cryptocurrency space.
While Bitcoin leads the market, Ethereum, the second-largest cryptocurrency, is trading at $3,860, accounting for 12.1% of the market share.
Other cryptocurrencies make up the remaining 35.1%, reflecting growing diversification within the crypto market.
Charles Hoskinson, founder of Cardano, has projected that Bitcoin could reach $250,000 within two years, citing its growing adoption and institutional support.
He believes the cryptocurrency has the potential to achieve even higher targets, with some forecasts estimating a $500,000 price point in the longer term.
Bitcoin’s breakthrough signals a new phase for digital currencies, with increased adoption and legitimacy among investors and institutions.
Market analysts anticipate further growth, provided regulatory frameworks continue to evolve in favor of the sector.
This milestone underscores Bitcoin’s position as a transformative asset, reshaping the global financial landscape.