For the first time in history, the price of Bitcoin has surpassed the psychological barrier of $100,000, reaching a new record amid growing interest in cryptocurrencies, reports IA "NewTimes.kz".
This historic milestone was recorded on Wednesday, shortly after the election victories of cryptocurrency-friendly candidates, led by the newly elected U.S. President Donald Trump.
The demand for Bitcoin surged sharply following the elections, which bolstered confidence in digital assets as a legitimate financial instrument.
Since the beginning of November, the price of Bitcoin has increased by more than 45%, and it has more than doubled since the start of the year. Currently, one Bitcoin is valued at $103,282.
Previously, Bitcoin reached a new all-time high, exceeding the $75,000 mark, thanks to preliminary results of the U.S. presidential elections, which were favorable for pro-cryptocurrency Republican Donald Trump.
Bitcoin then set a new record following Trump's victory and the Federal Reserve's decision, surpassing the $76,665 threshold.
The price of Bitcoin, which hit its peak on Thursday, reacted to the rate cuts that traditionally enhance the appeal of risk assets, including stocks and cryptocurrencies. Ethereum rose by 2.5% to $2,900, while Solana increased by 3.7%, reaching $197.
Trump's leadership has boosted market sentiment as investors see him as a potential supporter of the cryptocurrency sector.
The crypto industry also gained momentum after Donald Trump's election victory in the U.S. The total market capitalization of cryptocurrencies has increased by 13% since November 4, reaching $2.6 trillion. This surge has strengthened investor confidence, particularly in light of news regarding the stabilization of the U.S. economy.