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Bitcoin crosses $100K for the first time

2024-12-05 07:56:00, Ekonomi CNA

Bitcoin crosses $100K for the first time

The price of Bitcoin has crossed the $100,000 mark for the first time, reaching a new record.

The value of the world's largest cryptocurrency has risen on hopes that US President-elect Donald Trump will enact "crypto-friendly" policies.

The milestone was reached hours after Trump said he would nominate former Securities and Exchange Commission (SEC) Commissioner Paul Atkins to lead the Wall Street regulator.

The $100,000 milestone prompted celebrations from cryptocurrency fans around the world.

Bitcoin's fluctuating value has always attracted interest, with its supporters reacting with delight when it has crossed previous price thresholds and challenges during its decline.

For weeks charts, memes and predictions have been swirling around social media as to when the price would hit what is thought to be one of the holy grails of the crypto world.

Millions of viewers watched it from the Internet, the moment the figure went to about 100 thousand dollars.

The value of a single bitcoin is one of the barometers of optimism in the cryptocurrency industry, which is now estimated to be worth $3.3 trillion, according to analysis firm Coin Market Cap.

Trump's victory last month was the catalyst for the recent surge.

The president-elect has vowed to make the US "the crypto capital of the planet."

Also remarkable is how the price of Bitcoin has risen. A valuation of $100,000 represents a 40% increase on US Election Day and more than double the price at which it started the year.

But there is much more to Bitcoin than the dizzying changes in its value.

From its enigmatic inventor to the downfall of the so-called King of Cryptos, it's a story with many twists and turns that has seen the making and loss of great fortunes./ CNA





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