Bitcoin Exceeds $100,000

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The value of Bitcoin soared to a historic $100,000 milestone, marking a significant achievement for the cryptocurrency market after a year of remarkable growth. This milestone was reached on December 5, just weeks after passing the $90,000 mark on November 12.

In the early hours of December 5, Bitcoin not only broke the psychological barrier of $100,000, but also reached a new all-time high of $104,000 at 3:08 am UTC. One major contributing factor to Bitcoin’s success this year has been the influx of $31 billion from spot Bitcoin exchange-traded funds in the United States.

Additionally, the supply of Bitcoin has been reduced due to the fourth halving that took place in April. Other significant factors include the US presidential election, in which Republican candidate Donald Trump’s victory sparked speculation about creating a national reserve of Bitcoin.

There has also been a surge in corporate adoption of Bitcoin, led by MicroStrategy CEO Michael Saylor. Another development that could potentially further boost the value of Bitcoin is Trump’s recent nomination of crypto advocate Paul Atkins to replace Gary Gensler as the chair of the Securities and Exchange Commission.