The price of Bitcoin (BTC), the first major digital currency, exceeded $100,000 for the first time on Thursday. USD. This is the first such result since the currency was created 16 years ago.
“We are witnessing a paradigm shift.”
Reuters said that even skeptics see this as a “milestone” in Bitcoin's development. The price increase was supported by the election victory of Donald Trump, who supported cryptocurrencies in his election campaign and even announced the creation of a US reserve fund in BTC.
Since the US presidential election on November 5th, the price of Bitcoin has increased by nearly 50%. According to Reuters, the total value of the cryptocurrency market has nearly doubled in less than a year, reaching a record level of $3.8 trillion, according to data from digital exchanges.
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-We are witnessing a paradigm shift, said Mike Novogratz, founder of American cryptocurrency company Galaxy Digital.
“Bitcoin and the entire digital asset ecosystem are poised to enter the financial mainstream, with momentum driven by institutional adoption, advances in tokenization and payments, and a clearer regulatory path,” he added.
Bitcoin hits a record price. Donald Trump unveils digital currency stocks
Donald Trump championed digital assets during his election campaign, promising that the United States would become “the crypto asset of the planet” and increase the national stockpile of Bitcoin.
Joe McCann, CEO and founder of Asymmetric, a Miami-based digital asset hedge fund, noted that since November 5, U.S. investors have resumed buying incessantly.
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On Wednesday, President Trump announced that he would nominate Paul Atkins to head the Securities and Exchange Commission. Blockchain Association CEO Kristin Smith said, “Atkins brings a new perspective based on a deep understanding of the digital asset ecosystem.”
“We look forward to working with him and co-leading the next wave of U.S. crypto innovation,” he added.
What is Bitcoin?
Created in 2008, Bitcoin popularized the concept of decentralized finance. Initially, digital currencies had no real value, and their subsequent price was pennies.
In the spring of 2010, the first transactions in this currency involving companies that produce physical goods were completed. An American programmer bought two pizzas and paid in BTC instead of dollars. It cost $10,000 at the time. Bitcoin, or just over $40.
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