CandleFocus From pizza to $100K – The crazy chronicles of Bitcoin’s meteoric rise
2024-12-05
Author: Content Editor
Bitcoin has surpassed the $100,000 mark, driven by Donald Trump's election victory and expectations of regulatory changes. The cryptocurrency has experienced a 140% increase in value this year, doubling from its January low. Bitcoin's journey has been characterized by invention, crashes, and comebacks, starting from its creation in 2008 by Satoshi Nakamoto. Notable milestones include the first retail transaction in which 10,000 BTC were spent on two pizzas and the launch of the first Bitcoin trust and spot Bitcoin ETF. Despite rejections and market volatility, Bitcoin has gained institutional confidence, leading to the approval of 11 spot Bitcoin ETFs in January 2024. Donald Trump's pro-crypto stance also contributed to Bitcoin's price surge. The SEC's accelerated approval for options tied to Bitcoin ETFs further bolstered the cryptocurrency's position. Overall, Bitcoin's rise to $100,000 reflects its resilience and suggests it will continue to hold a significant place in the crypto market.
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