CandleFocus Bitcoin at $100K: The Financial World Reacts
2024-12-05
Author: Content Editor
In 2024, several crypto firsts occurred, including the launch of the first spot bitcoin ETF, the first spot ether ETF, and the first investment in the asset class by a pension fund. However, the biggest milestone came when bitcoin surged past the $100,000 mark for the first time ever, growing from zero value to a $2 trillion asset in just over 15 years. This achievement was unimaginable just two years ago when the cryptocurrency industry was facing significant challenges. Bitcoin's rise of over 500% since November 2022 has been supported by increased participation from Wall Street and the approval of ETFs, attracting institutional investors. Prominent figures in the crypto space, including Donald Trump, Mike Novogratz, and Brian Armstrong, celebrated this milestone. Skeptics, such as Peter Schiff, criticized the achievement, attributing it to government intervention. Overall, the $100,000 mark is seen as proof of adoption, belief, and a promising future for bitcoin.
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