Bitcoin has reached a historic milestone, surpassing the $100,000 mark for the first time since its inception 15 years ago. Shortly after Bitcoin hits its all-time high of $103,900.

The cryptocurrency’s market capitalization now stands at $2.04 trillion, contributing significantly to the overall crypto market, which has reached a record $3.68 trillion. This surge is driven by a combination of market dynamics, regulatory developments, and increasing corporate adoption.

The Journey to $100,000

Since November 5, Bitcoin’s price has surged by over 50%. Year-to-date, its value has more than doubled, starting the year at around $44,000. This six-figure milestone is the latest chapter in Bitcoin’s remarkable story, which began with a 2008 white paper by the pseudonymous Satoshi Nakamoto.

Over the years, Bitcoin has evolved from a niche digital currency to a global asset. It has spurred technological innovation, including decentralized finance (DeFi) platforms and non-fungible tokens (NFTs). Despite its achievements, Bitcoin has faced criticism for its role in cybercrime and regulatory challenges.

Catalysts Behind the Surge

1. Bitcoin ETFs:
   Early 2024 saw the launch of spot Bitcoin exchange-traded funds (ETFs) by major asset managers like BlackRock and Fidelity. These ETFs quickly accumulated over $31 billion in assets under management, providing a new avenue for institutional investors to access Bitcoin.
2. Halving Effect:
   Bitcoin’s fourth halving in April tightened its supply, creating upward price pressure. The halving event, which reduces the number of new Bitcoins entering circulation, has historically been a catalyst for bull markets.
3. Political and Regulatory Shifts:
   The victory of pro-crypto Republican Donald Trump in the U.S. presidential election brought optimism to the market. Trump’s nomination of Paul Atkins, a known crypto advocate, as SEC chair, signaled potential regulatory relief. Additionally, his pro-crypto cabinet picks have supported the market sentiment.
4. Corporate Adoption:
   Companies like MicroStrategy, led by Michael Saylor, have continued to embrace Bitcoin. MicroStrategy now holds over 386,700 BTC, valued at more than $38 billion. Other corporations, including tech giants like Microsoft, are exploring Bitcoin treasury strategies.

At $100,000, Bitcoin’s market cap rivals some of the world’s largest companies. With a valuation of $2.04 trillion, Bitcoin is just behind tech giants like Amazon and Google, each valued at $2.2 trillion. It remains a fraction of the total global gold market, which stands at $17.7 trillion, but its rapid growth showcases its potential as a store of value.