Close Menu
WTX News
    Facebook X (Twitter) Instagram
    Trending
    • AI tops agenda on day 1 of first conference on innovation and entrepreneurship in Saudi academia
    • Fallout needs to be taken away from Bethesda as soon as possible – Reader’s Feature
    • Halo on PS5 confirmed for next year but it’s missing a major feature
    • Amorim: ‘I don’t care’ about Slot’s Man United comments
    • Project Motor Racing reveals Daytona International Speedway inclusion
    Facebook X (Twitter) Instagram YouTube
    WTX News
    • Live News
      • US News
      • EU News
      • UK News
      • Politics
      • COVID-19
      • Business
      • Tech zone
    • World news
      • Middle East News
        • UAE News
        • Palestine News
      • Europe
        • Italian News
        • Spanish News
      • Africa news
      • South America
      • North America
      • Asia
    • News Briefings
      • UK News Briefing
      • World News Briefing
      • Live Business News
    • Sports
      • Football News
      • Tennis
      • Women’s Football
    • MY World
      • Climate Change
      • In Review
      • Expose
      • Special Reports
        • Conscience Convoy
        • Rohingya Report
    • Entertainment
      • Insta Talk
      • Royal Family
      • Gaming News
      • TV Shows
      • Streaming
    • Lifestyle
      • Fitness
      • Fashion
      • Cooking recipes
      • Luxury
      • Money Saving Expert
    • Travel
      • Culture
      • Holidays
    • Sign Up
      • Log In
    WTX News
    • Live News
    • World news
    • News Briefings
    • Sports
    • MY World
    • Entertainment
    • Lifestyle
    • Travel
    • Sign Up
    Home - Business - Bitcoin tops $100,000 as monster 2024 rally reaches new heights
    Business Updated:December 5, 2024

    Bitcoin tops $100,000 as monster 2024 rally reaches new heights

    By Parker Jospeh3 Mins Read
    Facebook Twitter LinkedIn Email Telegram WhatsApp
    Bitcoin tops 0,000 as monster 2024 rally reaches new heights

    The price of Bitcoin soared past the long-awaited $100,000 benchmark for the first time ever late Wednesday evening.

    The flagship cryptocurrency was last higher by more than 4% at $103,544.00, according to Coin Metrics. Earlier, it rose as high as $103,844.05. Bitcoin is now up more than 140% in 2024 and 48% since the election.

    The move came hours after President-elect Donald Trump announced plans to nominate Paul Atkins as chair of the Securities and Exchange Commission, fulfilling perhaps his most important campaign promise to the crypto industry: to replace Gary Gensler, who has become something of a villain in crypto for the agency’s regulation-by-enforcement approach to the industry under his leadership.

    It’s a day of celebration for longtime bitcoin investors, who have held on for dear life, or “HODL’d” through several of the cryptocurrency’s boom and bust cycles, during which government and financial institutions remained dismissive — and even hostile — toward the asset class.

    That’s largely because of the cryptocurrency’s anti-establishment roots. The original idea for Bitcoin was proposed at the height of the 2008 financial crisis: a “peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution,” its founder, Satoshi Nakamoto, wrote in the Bitcoin Whitepaper.

    In recent years, however, the industry has demonstrated the value of Bitcoin to much of the institutional investing world. BlackRock Fidelity, Invesco and others launched the first spot bitcoin ETFs at the beginning of this year — bitcoin’s “IPO” moment — and the growing demand for them by institutions has helped drive the price higher. In November, Rick Wurster, the incoming CEO of Charles Schwab said the firm is preparing to enter spot crypto trading, pending regulatory changes expected in the next Trump administration.

    On Wednesday, Federal Reserve chair Jerome Powell said bitcoin is “just like gold only it’s virtual, it’s digital,” speaking at the DealBook conference. He further clarified that “people are not using it as a form of payment, or as a store of value” and that “it’s not a competitor for the dollar, it’s really a competitor for gold.”

    “We’re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” Mike Novogratz, CEO of Galaxy Digital, told CNBC.

    Bitcoin had been widely expected to reach the landmark $100,000 level since the U.S. presidential election. However, excited investors sent bitcoin closer to this mark much sooner than initially anticipated; it rose as high as $99,849.99 on Nov. 22. There is much hope that President-elect Trump will deliver on several pro-crypto initiatives in the year ahead – including the establishment of a national strategic bitcoin reserve or stockpile, no taxes on crypto transactions and opening up the crypto public equity markets with more IPOs.

    “Over the long term, I’m bullish,” Novogratz added. “It won’t be a straight line up, and investors should always consider taking gains off the table. But, with a pro-crypto administration about to take charge in the U.S., it’ll be hard for the rest of the world not to take notice.”

    Don’t miss these cryptocurrency insights from CNBC PRO:

    Bitcoin tops $100,000 as monster 2024 rally reaches new heights

    News Just in

    AI tops agenda on day 1 of first conference on innovation and entrepreneurship in Saudi academia

    Adnan Hindawi

    Cliff Notes – AI tops agenda on day 1 of first conference on innovation and entrepreneurship in Saudi academia Event Marking Awareness: The stuttering awareness

    Read More »

    Fallout needs to be taken away from Bethesda as soon as possible – Reader’s Feature

    Savanah Al Badri

    Cliff Notes – Fallout needs to be taken away from Bethesda as soon as possible – Reader’s Feature Lack of Innovation: Bethesda has not evolved

    Read More »

    Bitcoin Bitcoin price CNBC CryptoCurrency Economy featured
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram WhatsApp
    Previous ArticleMoment mum gets phone nicked during livestream while raising money for charity
    Next Article Elena Cecchettin on life imprisonment in Turetta: “No stalking? Institutions don’t care about women”
    Parker Jospeh
    • X (Twitter)
    • Instagram

    Joseph Parker is a journalist based in United States. He as well the US breaking US news team reports on political news and cultural developments including extremism, disinformation, tech and Federal news.

    Related Posts

    US hits alleged drug-smuggling boats in Pacific, killing 5
    World News

    US hits alleged drug-smuggling boats in Pacific, killing 5

    North Korea fires ballistic missiles, says Seoul
    World News

    North Korea fires ballistic missiles, says Seoul

    Why Southeast Asia’s fight against smoking isn’t over
    World News

    Why Southeast Asia’s fight against smoking isn’t over

    Two die as cargo plane skids off Hong Kong runway into sea
    World News

    Two die as cargo plane skids off Hong Kong runway into sea

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Advertisment
    News Headlines

    AI tops agenda on day 1 of first conference on innovation and entrepreneurship in Saudi academia

    Saudi vice minister of foreign affairs meets Ghanaian counterpart

    Saudi vice minister of foreign affairs meets Ghanaian counterpart

    Save 70% on VIP subscription
    News Briefings - the way to a better life
    News Briefings - the way to a better life
    Advert by Sponsors
    More from WTX News
    The latest gaming news - with game reviews and tips and tricks. updated 24 hours a day.
    The latest gaming news
    Hot off the press!
    • AI tops agenda on day 1 of first conference on innovation and entrepreneurship in Saudi academia October 25, 2025
    • Fallout needs to be taken away from Bethesda as soon as possible – Reader’s Feature October 25, 2025
    • Halo on PS5 confirmed for next year but it’s missing a major feature October 25, 2025
    • Amorim: ‘I don’t care’ about Slot’s Man United comments October 25, 2025
    • Project Motor Racing reveals Daytona International Speedway inclusion October 24, 2025
    WTX News latest breaking news sports and travel
    Latest News and analysis - Deciphering through the BS with exclusive News Briefings
    Facebook X (Twitter) TikTok Instagram

    News

    • World News
    • UK News
    • US News
    • EU News
    • Business
    • Opinions
    • News Briefing
    • Live News

    Company

    • About WTX News
    • Register
    • Advertising
    • Work with us
    • Contact
    • Community
    • GDPR Policy
    • Privacy

    Services

    • Fitness for free
    • Insta Talk
    • How to guides
    • Climate Change
    • In Review
    • Expose
    • NEWS SUMMARY
    • Money Saving Expert

    News delivered to your inbox

    Copyright WTX News 2025

    • Privacy Policy
    • Terms

    Type above and press Enter to search. Press Esc to cancel.