Bitcoin Blasts Through 100 000

The total value of the cryptocurrency market has nearly doubled this year, reaching a record high just shy of 3.8 trillion, according to data provider CoinGecko. In comparison, Apples market value stands at about 3.7 trillion.

Bitcoin, which has transitioned from a libertarian fringe idea to a mainstream asset on Wall Street, has created new millionaires, established a new asset class, and popularized the concept of decentralized finance, all while enduring a volatile and often controversial history since its creation 16 years ago.

This year, Bitcoin has more than doubled in value and has risen over 50 in the four weeks following Donald Trump's sweeping election victory in the US, which also saw a wave of pro-crypto lawmakers elected to Congress.

After briefly surpassing 100,000 on Thursday morning in Asia, Bitcoin quickly climbed above 103,000 and was last valued at 103,335. "Were witnessing a paradigm shift," said Mike Novogratz, founder and CEO of the US crypto firm Galaxy Digital.

Bitcoin, along with the entire digital asset ecosystem, is on the verge of entering the financial mainstream, driven by institutional adoption, advancements in tokenization and payments, and a clearer regulatory outlook.