12 Dec, 2024 | BANKSY
The price of bitcoin hit $100,000 for the first time on December 4th 2024. The demand for the digital currency continued to increase due to recent news and other expected indicators on the charts based on previous behaviour. The six-figure mark is the a milestone for a digital currency that started 15 years ago from white paper written by a still-unknown personage or personages.
Bitcoin enthusiasts are expecting a new pro-crypto view to be held in Washington and which will put an end to strict rules against digital tokens, in order to open bitcoin to traditional financial institutions. Although the king of crypto remains quite volatile by nature, bitcoin it still the best performing asset of the last decade.
In an interview, Jay Jacobs, BlackRock's U.S. head of thematic and active ETFs, said that since launching in January, the IBIT ETF has grown to a value of more than $45 billion. This is because a greater number of investors are coming to view bitcoin as a hedge against risks such as currency devaluations caused by inflation.
With ETFs serving as an easy-to-use way for investors to gain exposure to bitcoin's price movements, it's only a matter of time before mainstream interest in the cryptocurrency reaches a tipping point, which will deliver more all time highs possibly way above the 100K USD mark.