The post Bitcoin breaks through $100,00 for first time ever, market cap hits $2 trillion appeared on BitcoinEthereumNews.com.

Key Takeaways Bitcoin reached $100,000 for the first time, increasing its market cap to $2 trillion. The approval of spot Bitcoin ETFs is facilitating regulated institutional investment in digital assets. It was the moment everyone was waiting for. On Wednesday December 4, 2024, Bitcoin hit $100,000 for the first time in history, pushing its market cap to $2 trillion. As of the latest data from TradingView, Bitcoin is trading at approximately $102,000, reflecting a 3% increase over the past 24 hours. The crypto asset has experienced a remarkable 140% year-to-date gain. Bitcoin achieved the landmark milestone soon after Fed Chairman Jerome Powell called Bitcoin a competitor to gold and president-elect Donald Trump officially nominated pro-crypto Paul Atkin to chair the Securities and Exchange Commission. All happened in one day and all points the crypto industry in the US to a major shift in regulation and perception under the incoming Trump administration. Accelerating institutional demand Accelerating institutional demand is pushing Bitcoin’s growth and adoption. The approval of spot Bitcoin ETFs in January was a pivotal development, providing a regulated vehicle for institutions to gain exposure to Bitcoin. Over 87% of institutional investors now plan to invest in digital assets in 2024, signaling a significant uptick in interest. Major financial institutions are increasingly launching investment products that offer Bitcoin exposure, a move that reflects this growing appetite. Moreover, corporations in the US are adopting Bitcoin as a treasury reserve asset. This trend, pioneered by MicroStrategy, is gaining traction, with more companies allocating Bitcoin to their treasury management strategies. Source: https://cryptobriefing.com/bitcoin-milestone-market-cap/

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Filed under: News - @ December 5, 2024 3:24 am