The breakthrough is momentous: Bitcoin has crossed the $100,000 mark for the first time, hitting an all-time high of $103,600. This milestone was driven by a mix of factors including the rise of Bitcoin ETFs, growing institutional demand, and increased adoption of BTC as a store of value. In recent months alone, record inflows into Bitcoin ETFs have totalled over $31 billion, contributing significantly to the price rally. Already for a few days the price had been hovering between 97k and 98k, it seemed unable to break through the psychological wall of 100k but then yesterday’s news of the fall of the French government gave it the boost it needed.
But now, what will be the impact on global politics? The geopolitical context played a crucial role. In the US, the election of a pro-crypto leadership, with Donald Trump at the centre, has led to a more favourable regulatory climate. This has reassured investors and accelerated institutional movements towards Bitcoin.
In parallel, in South Korea, a brief transition to military control triggered a wave of interest in the cryptocurrency market. This unprecedented event pushed trading volumes to $34 billion in a single day, showing how cryptocurrencies are increasingly seen as a hedge against political instability.
But there is more on the horizon, these days Microsoft is speculating on expanding Bitcoin applications, something that is fuelling particular enthusiasm. Michael Saylor, a well-known Bitcoin advocate and founder of MicroStrategy, recently partnered with Microsoft, describing Bitcoin as the best asset to own. This partnership could lead to a wider integration of BTC into global technology systems, further reinforcing its status as a major digital asset. The decision by the board of directors is expected to come soon, no later than around mid-December. An event of this magnitude might be reminiscent in a way when Mark Zuckerberg decided to change the company’s name to ‘Meta’, creating hype about the Metaverse industry. Similarly, such an effect on Bitcoin could be much broader and create a major influence on many other companies in the US and around the world, who might finally realise how Bitcoin is a strategic asset against inflation.
On social media, the clearest and most explanatory post is provided by the ceo of Coinbase, celebrating Bitcoin’s 100,000 dollar achievement. To this, there is not much more to add.
If you bought $100 of Bitcoin when Coinbase was founded in June 2012, it would now be worth about $1,500,000.
If you kept the $100 USD you’d only be able to purchase about $73 worth of goods today.
Bitcoin is the best performing asset of the last 12 years, and it’s still early… pic.twitter.com/dvBgX5K7or
– Brian Armstrong (@brian_armstrong) December 5, 2024
