The price of bitcoin reached $100,000 for the first time, driven by increased demand following victories for crypto-friendly candidates in the recent election. Bitcoin has surged more than 45% since Nov. 5 and doubled year to date. Satoshi Nakamoto’s white paper from 15 years ago led to the creation of a vibrant digital currency landscape, but cryptocurrencies have faced scrutiny for their role in cybercrimes and scams. However, with the election results, bitcoin advocates hope for a more pro-crypto stance in Washington. President-elect Donald Trump has expressed interest in establishing a U.S. bitcoin reserve. Despite the volatility of bitcoin’s price, it continues to see upward growth, with demand driven in part by ETFs operated by major financial institutions like BlackRock. The iShares Bitcoin Trust ETF, for example, has grown to over $45 billion in value since launching in January. Investors increasingly view bitcoin as a hedge against geopolitical risks such as currency devaluations, and ETFs provide an accessible way to invest in bitcoin’s price movements. Mainstream interest in cryptocurrencies is growing, with more investors looking to gain exposure to bitcoin. Ultimately, education and time will be key in the journey towards wider adoption of bitcoin and other digital tokens in the financial landscape.
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Bitcoin surges to record high of $100,000
