Bitcoin has achieved a historic milestone by crossing the $100,000 threshold for the first time, driven by rising institutional adoption, increasing corporate investment, and the anticipation of pro-crypto policies under President Donald Trump’s administration. The cryptocurrency is up by around 130% year-to-date, with its market cap nearing $2 trillion— a significant achievement for an asset that has only been around for 15 years. For comparison, companies like Nvidia and Apple are valued at approximately $3.5 trillion, while Microsoft’s market capitalization stands at $3 trillion. In contrast, the entire global gold market is valued at approximately $17.7 trillion.
A key factor behind Bitcoin’s price surge is the launch of spot-based Bitcoin exchange-traded funds (ETFs) by major asset managers such as BlackRock and Fidelity. These ETFs have garnered significant investor interest, with assets under management reaching approximately $30 billion in under a year. While Bitcoin’s rally experienced a slowdown due to regulatory uncertainty earlier in 2024, Trump’s crypto-friendly victory in November reignited the momentum, allowing Bitcoin to quickly surpass previous price levels, including its March high of $73,500, $80,000, $90,000, and now $100,000.
Corporate adoption has been another significant driver of Bitcoin’s price growth. MicroStrategy, led by Executive Chairman Michael Saylor, has been a prominent player, purchasing billions of dollars worth of Bitcoin since 2020. The company now holds over 386,000 BTC, worth more than $38 billion. Saylor’s success has inspired other companies, including U.S.-listed Semler Scientific and Japan-listed Metaplanet, to follow suit. Microsoft is also reportedly considering a proposal to add Bitcoin to its corporate treasury, signaling a broader shift towards Bitcoin adoption among tech giants.
