History: Bitcoin surpasses US$100,000 for the first time

O Bitcoin reached a historic milestone by surpassing the US$100 thousand mark, recording its highest price since the cryptocurrency’s launch more than a decade ago. At the moment, the digital asset is valued at $103,359, according to data from the Kraken exchange.

Presidential elections boost Bitcoin

The jump in the price of Bitcoin began after confirmation of Donald Trump’s victory in the 2020 United States presidential election4. On election day, the cryptocurrency was priced at around US$69,000, but rose to US$75,000 shortly after the announcement that Trump had wonaccording to data from CoinDesk. Since then, the value has continued to grow, reflecting investor optimism about a possible more favorable stance towards cryptocurrencies under the Trump administration.

Trump, who launched his own cryptocurrency platform, has made ambitious promises for the sector. He pledged to maintain the Bitcoin reserves currently held by the federal government and declared his intention to fire Gary Gensler, chairman of the SEC (Securities and Exchange Commission), known for taking a tough stance towards cryptoactive companies.

Appointments reinforce market optimism

Breaking the US$100,000 barrier occurred just hours after Trump announced the first names of his administrative team, including the appointment of Paul Atkins, former Republican SEC commissioner, to lead the agency. Atkins, who previously served as co-president of the Token Alliance, linked to the Chamber of Digital Commerce, is known for defending innovations in the digital asset market.

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Trump praised Atkins, stating that he “recognizes that digital assets and other innovations are crucial to making the US stronger than ever.” The appointment reinforced expectations that the new government will adopt a more flexible and open approach to cryptocurrencies, which further excited investors. It is worth remembering that Elon Musk, another great defender of cryptoactives, will also join the Trump government.

Other factors drive the price of Bitcoin

In addition to the political implications, other events contributed to the rise in the price of Bitcoin. The start of options trading on BlackRock’s Bitcoin exchange-traded fund (ETF), for example, had a significant impact on the market. On the first day, the ETF had a turnover of US$1.9 billion, demonstrating institutional investors’ growing appetite for digital assets.

With the political and economic scenario favoring cryptocurrencies, Bitcoin further solidifies its position as one of the most relevant assets in the global financial market.

“The US$100,000 is an important milestone for bitcoin, not least because of the psychological characteristic that this type of value offers to the asset.” “The metrics have been very favorable in recent months. ETFs continued to receive constant capital flows, and large investors remained well positioned after intermediate profit-taking”, says Beto Fernandes, analyst at Foxbit.