Bitcoin Breaks the $100,000 Record for the First Time

Bitcoin has just broken the $100,000 barrier for the first time. Boosted by political promises from Donald Trump, liquidity injections from Wall Street, and the latest halving, the cryptocurrency's price seems unstoppable.

Cryptocurrency is experiencing a historic moment. Just weeks after Donald Trump's victory over his rival, Democrat Kamala Harris, the price of Bitcoin has finally surpassed the $100,000 mark. In less than a month, BTC went from $67,470 to just over $100,000.

At the time of this article's publication, BTC reached $103,000. As explained by Josh Gilbert, a market analyst for eToro, "The fact that Bitcoin has reached six figures is no small feat and reflects the global adoption of this asset over the past few years."

Many speculators, traders, and market observers attribute the surge in Bitcoin's value to the numerous promises made by the Republicans during his campaign. This year, Donald Trump has repeatedly promised to ease regulations governing the cryptocurrency sector. Following several Republican senators, he has also pledged to create a national reserve of Bitcoin. This is the first time Bitcoin has made its way into the U.S. presidential debate and, more broadly, into public discourse.

"With Trump's election as the 47th president of the United States, the legitimacy of the crypto market is becoming clearer. The last element of uncertainty has been removed, and the largest financial market in the world is about to adopt liberal and favorable regulations for our industry. We are witnessing a breakthrough in the best possible sense," says Alexis Bouvard, Director of France for Bitpanda, to 01Net.

Trump's Latest Announcement Boosts Bitcoin

Just hours before the record, Donald Trump announced that he plans to appoint a new director of the Securities and Exchange Commission (SEC), the U.S. stock market regulator, to replace the controversial Gary Gensler, who has been fiercely opposed to cryptocurrencies. To replace Gensler, Trump is betting on Republican lawyer Paul Atkins.

A former SEC commissioner during George W. Bush's presidency, Atkins has always been open to cryptocurrencies. He is also an advisor to the Digital Chamber, a blockchain promotion organization. Last year, Atkins firmly criticized Gary Gensler's SEC strategy. This announcement has raised investor enthusiasm, with more people convinced that Donald Trump will lead crypto to new heights.

"Paul has proven his bias towards sensible regulation. He believes in strong and innovative financial markets that meet the needs of investors. He also recognizes that digital assets are crucial to making America greater than ever before," announces Donald Trump.

As always, Bitcoin's massive success has stimulated the entire crypto market. Many altcoins also saw their prices rise as Bitcoin crossed the $100,000 mark. This includes Solana, which set its historical record before Bitcoin, driven by the success of meme coins. We also note the strong comeback of XRP, Ripple's cryptocurrency, after years of stagnation.

"The fact that Bitcoin has reached $100,000 is not just a number; it's a real turning point," adds Alexis Bouvard.

The Reasons Behind Bitcoin's Record

Bitcoin's price increase is not solely due to Donald Trump's election victory. Bitcoin had shown signs of recovery months before Trump emerged as a fervent defender of cryptocurrencies. For seasoned market observers, the initial steps of its resurgence date back to April.

Indeed, the latest halving, the fourth major update of the cryptocurrency, was deployed on the blockchain in April 2024. This operation halved the rewards given to cryptocurrency miners. Most importantly, the process reduced the number of bitcoins produced, mechanically boosting its value. A similar update was behind the rise of all previous bull markets. Generally, the market starts to rise a few months after a halving, as was the case in 2020.

At the same time, Bitcoin's price benefited from its arrival on Wall Street. After months of hesitation, the stock market regulator approved the first Bitcoin-backed exchange-traded funds (ETFs). This historic decision was accompanied by an influx of capital from institutional investors. These funds contributed to boosting demand for Bitcoin and driving up the price. These factors are responsible for Bitcoin's stratospheric rise in 2024 and its long-awaited crossing of the $100,000 threshold.

"The positive developments of recent years—such as increasing adoption by individuals, regulation of the cryptocurrency market in Europe, central banks' interest rate cuts, and the integration of cryptocurrencies into traditional financial systems and bank portfolios—are now having their full effect. The market is enthusiastic, and prices are rising," analyzes Alexis Bouvard.

Towards $200,000 and Beyond?

Of course, investors have long awaited Bitcoin's price to surpass $100,000. As early as 2021, during the height of the last bull market, a narrative suggesting that the price would exceed $100,000 by the end of the year gained traction among investors. Ultimately, it took three more years to reach that milestone.

Ecosystem players believe that Bitcoin will not stop there. Some prominent figures in crypto are betting on Bitcoin exceeding $200,000 in the coming months. Others look further ahead, suggesting a BTC worth over a million dollars shortly. For Josh Gilbert, "This rise does not seem to be over yet for the year, thanks to the powerful momentum currently driving this bull market."

"If we consider past market cycles, it still feels like we are reasonably at the beginning of this bull market."

The same view is held by analyst Simon Peters. According to him, "the bull market is still in its early stages." In fact, "the peak of the bull market should occur by the end of 2025 or early 2026."