Bitcoin approaches the $100,000 mark! Has it increased by tens of millions of times since its inception?
Today, the price of Bitcoin is aiming for $100,000, having reached over $99,500 at its peak, just a step away from the $100,000 mark. According to CoinGecko data, since Trump's victory on November 5, the overall market capitalization of the cryptocurrency market has increased by more than $800 billion. Blockchain concept stocks in the U.S. stock market have risen over 83% year-to-date. Currently, CompaniesMarketCap data shows that Bitcoin has surpassed silver and Aramco in the global asset class rankings, now standing at 7th place, just behind gold and the American tech giants Nvidia, Apple, Microsoft, Amazon, and Google. As a pioneering representative in the field of digital currency, Bitcoin has created a huge wave in the global financial market since its inception in 2008. It not only challenges the concept of traditional currency systems but also provokes deep reflections on the essence of money, financial regulation, and investment value. From obscurity to global attention, Bitcoin's development journey is filled with legendary colors, accompanied by countless controversies and puzzles. Bitcoin has risen from $0.0025 in 2010 (when Florida programmer Laszlo Hanyecz exchanged 10,000 Bitcoins for two pizzas) to the current $100,000, accumulating a rise of 40,000,000 times, while Buffett took over 57 years to achieve 36,000 times, which is a small feat compared to Bitcoin (Buffett's annualized return from 1965 to 2021 is around 20%)
Today, the price of Bitcoin is aiming for $100,000, having reached over $99,500 at its peak, just a step away from the $100,000 mark.
According to CoinGecko, since Trump's victory on November 5, the overall market capitalization of the cryptocurrency market has increased by over $800 billion. Blockchain concept stocks in the U.S. stock market have risen by more than 83% year-to-date.
Currently, CompaniesMarketCap shows that Bitcoin has surpassed silver and Saudi Aramco in the global asset rankings, now ranking 7th. It is only behind gold and U.S. tech giants Nvidia, Apple, Microsoft, Amazon, and Google.
As a pioneering representative in the field of digital currency, Bitcoin has created a huge wave in the global financial market since its inception in 2008. It not only challenges the concept of traditional currency systems but also provokes profound thoughts on the nature of money, financial regulation, and investment value. From obscurity to global attention, Bitcoin's development journey is filled with legendary colors, accompanied by countless controversies and puzzles.
Bitcoin has risen from $0.0025 in 2010 (when Florida programmer Laszlo Hanyecz exchanged 10,000 Bitcoins for two pizzas) to the current $100,000, accumulating a rise of 40,000,000 times, while Buffett achieved a mere 36,000 times in 57 years, making it a small feat compared to Bitcoin (Buffett's annualized return from 1965 to 2021 is around 20%).
Analysts point out that the surge in Bitcoin's price is attributed to multiple factors, including a favorable political environment for cryptocurrencies and economic conditions that drive investors toward Bitcoin and other alternative assets. Bitcoin is increasingly seen as a hedge against inflation and a means of portfolio diversification. The growing interest from institutional investors and the expansion of infrastructure supporting widespread adoption have also fueled Bitcoin's rise.
In addition to policy support, the liquidity brought by quantitative easing is also becoming apparent. The Federal Reserve continued to lower the benchmark interest rate by 25 basis points in November, increasing market liquidity, which has led to a rise in demand for high-risk assets like Bitcoin, further driving up prices. JP Morgan expects another possible rate cut in December this year, with the end of balance sheet reduction anticipated in the first quarter of next year. In the medium to long term, Bitcoin still has room for growth