The post Bitcoin (BTC) at $100K: The Financial World Reacts appeared on BitcoinEthereumNews.com.

There were many crypto firsts in 2024: the first spot bitcoin ETF, the first spot ether ETF, the first time a pension fund invested in the asset class. But as the expression goes, they saved the best for last: In the waning days of the year, bitcoin (BTC) hit six digits for the first time. The cryptocurrency surged past the $100,000 mark early Thursday UTC time, mushrooming from zero value into a $2 trillion asset in a little over a decade and a half. It’s a milestone that was difficult to imagine not long ago. Just two years ago, the entire cryptocurrency space was reeling from the cataclysmic implosions of FTX, Celsius and the Terra-Luna ecosystem. In the eyes of the general public, a toxic cloud hung over the whole industry. Bitcoin sank to around $15,000 and, to many mainstream observers, was wheezing in its final breaths. Now, bitcoin has soared more than 500% from the desperate days of November 2022 when Sam Bankman-Fried’s empire collapsed. A big difference between prior boom-bust cycles: Wall Street is firmly participating in this year’s rally. The newly approved ETFs have lured institutions. Salesforces at mighty traditional financial giants like BlackRock are hawking crypto-related products. The soon-to-be U.S. president, Donald Trump, supports bitcoin and digital assets; he even has a DeFi project. Whether it’s long-term believers, newly converted enthusiasts or even heads of state, many are taking victory laps — and longtime skeptics and permabears are coping. Here’s what prominent people are saying about BTC hitting $100,000: Donald Trump, U.S. president-elect: “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Mike Novogratz, CEO of Galaxy: “$100,000 Bitcoin. A milestone that represents more than price—it’s proof of adoption, belief, and a community that has carried this revolution from 0 to 100. With world leaders leaning in and a generational…

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Filed under: News - @ December 5, 2024 8:26 pm