Bitcoin (BTC) reached a historic milestone on December 5, surpassing the $100,000 mark and driving the cryptocurrency’s market capitalization to $2 trillion.
After a prolonged period of stagnation, Bitcoin initiated an upward momentum late at night, quickly reclaiming $99,000. The price chart showed consolidation around this level before another surge propelled it past $100,000.
According to CoinDesk, this record was fueled by strong demand from institutional investors and heightened expectations for crypto-friendly policies under the presidency of Donald Trump. Bitcoin has surged approximately 130% year-to-date, achieving a $2 trillion market cap just 15 years after its creation. It now ranks as the seventh-largest asset globally, trailing only gold and major tech giants like Apple, Nvidia, Microsoft, Amazon, and Alphabet.
This year’s Bitcoin boom was primarily driven by the approval of spot Bitcoin ETFs by asset management giants such as BlackRock and Fidelity earlier in the year. These ETFs have been immensely successful, managing approximately $30 billion within less than a year.
Despite the ETF success, Bitcoin’s price stagnated for much of the year, partly due to regulatory uncertainties surrounding the U.S. presidential election. However, the early November victory of Donald Trump, known for his pro-crypto stance, reignited Bitcoin’s rally. BTC quickly soared to $80,000, then $90,000, before hitting $100,000 today.
Another catalyst behind the price surge is the increasing adoption by institutions and corporations, spearheaded by MicroStrategy and its Executive Chairman, Michael Saylor. Since August 2020, MicroStrategy has been acquiring Bitcoin aggressively, raising billions to amass 386,700 tokens, now valued at over $38 billion.
Saylor’s strategy has inspired publicly traded companies like Semler Scientific (U.S.) and Metaplanet (Japan) to adopt similar approaches. Even tech giant Microsoft is reportedly considering a “Bitcoin treasury” strategy, with a proposal currently under review by its board of directors.
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Where will Bitcoin go next.
$150K by 2025? Let’s go! 