Bitcoin, the world's leading cryptocurrency, achieved an unprecedented milestone by surpassing $100,000 in value following President-elect Donald Trump's announcement of Paul Atkins as his nominee to head the Securities and Exchange Commission (SEC). Kaboompics.com / Pexels
The cryptocurrency's remarkable ascent in 2024 has been primarily attributed to the SEC's March decision to approve U.S.-listed exchange traded funds (ETFs) tracking Bitcoin, coupled with anticipated crypto-friendly policies from the incoming administration. David McBee / Pexels
Economic historian and cryptocurrency researcher Garrick Hileman noted to Newsweek, "$100k means many of Bitcoin's fiercest critics have some crow to eat. Bitcoiners in 2021-22 who adopted the 'laser eyes until $100k' mantra were widely ridiculed at the time when the price collapsed the following year. We know who is laughing now." Kaboompics.com / Pexels
The digital currency's journey since its 2009 inception has been marked by significant volatility. According to the 2024 Crypto Wealth Report, Bitcoin has generated 85,400 millionaires, representing a 111% increase over the past year. Kaboompics.com / Pexels
Bitcoin's trajectory has been anything but smooth, experiencing several major peaks and valleys. From its first significant surge to nearly $20,000 in 2017, followed by a dramatic decline to $3,000, to reaching $60,000 in 2021, and subsequently weathering the "crypto winter" of 2022, Bitcoin has demonstrated remarkable resilience. Worldspectrum / Pexels
Hileman offered a measured perspective on Bitcoin's future, stating, "There are certainly reasons to believe Bitcoin can climb even higher from today's levels, but a word of caution is in order during these price bubbles as we've often see newcomers wiped out as they jump-in too late into a big price run." Leeloo The First / Pexels
