In a historic moment for the cryptocurrency sector, Bitcoin surged past the $100,000 mark for the first time on Thursday. This milestone has been regarded as a coming-of-age for digital currencies as they steadily gain traction within financial markets.
The cryptocurrency market’s total value has nearly doubled this year, reaching a record close to $3.8 trillion, showcasing Bitcoin’s progression from a niche libertarian asset to a mainstream financial contender. Its rise has been bolstered by the election of pro-crypto lawmakers and institutional endorsements.
Trump’s administration is seen as particularly favorable towards cryptocurrencies, aiming to transform the U.S. into a global hub for digital assets. As the digital currency ecosystem becomes increasingly normalised, big investors and crypto-related companies are positioning themselves to capitalize on this evolving landscape.
(With inputs from agencies.)