Bitcoin has achieved something that seemed unimaginable a few years ago. The popular cryptocurrency has breached the $100,000 mark for the first time ever, currently trading at $103,260.13 (As of 4:56:00 AM UTC). Last month, Bitcoin touched $81,000, and just a few days later, it zoomed past the $90,000 mark. The $100,000 mark seemed inevitable, and some analysts even predicted it would happen. And rightly so—a single Bitcoin is now worth $100,000.
Bitcoin has come a long way from being virtually worthless back in 2009-2010 when it was introduced. It was in 2011 when Bitcoin gained some value and was worth $1. Two years later, the cryptocurrency gained confidence from investors and one Bitcoin was valued at $100 for the first time in 2013. That same year saw a surge of enthusiasm, propelling Bitcoin past $1,000.
After hitting $10,000 in 2017 in November, again, the November month in 2024 has proven to be a landmark for Bitcoin. A story to ponder is the famous "Bitcoin Pizza Story," where a Florida man paid 10,000 Bitcoins for two Papa John's pizzas about 14 years ago. Truth be told, if he'd held onto that number of Bitcoins, those 10,000 BTC would have been worth over $1 billion.
Well, the current surge is attributed to the US President-elect Donald Trump's favorable cryptocurrency policies. According to reports, four weeks since Trump's win in the US Presidential elections, Bitcoin has gained almost 45%. Bitcoin is growing to have exceeded the returns from traditional investments such as stocks and gold.
However, it is worth noting that Bitcoin, or any other cryptocurrency for that matter, is highly volatile. Based on the record, the value of cryptocurrency can easily drop as much as it has gained. If you have a Bitcoin (BTC) then you should make an informed decision whether to sell or to keep it. As for new buyers, you may want to get yourself some knowledge about the market before pumping your money into cryptocoins.
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