Bitcoin surged past $100,000 on Thursday, setting a new all-time high as market optimism swells over President-elect Donald Trump’s pro-crypto stance.
Trading at $103,225, the world’s largest cryptocurrency has risen by about 45% since Trump’s election victory on November 5, buoyed by institutional inflows into U.S.-based Bitcoin exchange-traded funds (ETFs).
This landmark moment reflects Bitcoin’s transition from a speculative asset to a growing cornerstone of the global financial ecosystem. Here’s what experts from around the world are saying about this breakthrough:
Global Reactions
Shoki Omori, Chief Japan Desk Strategist, Mizuho Securities, Tokyo:
“Individual investors must be excited to see the BTC price top $100,000 following the news of Paul Atkins being nominated as SEC chair. Markets knew Gensler would be stepping down and there would be someone who is less aggressive on crypto regulations. Of course, this doesn’t mean BTC will rally forever, as there will be moves to take profits. I think if BTC were to rally more from here, other crypto majors should catch up a bit first, such as Ethereum. Ethereum looks cheap against Bitcoin. Ripple shot up, but again we saw profit taking at $2.80. Altos look choppy. The crypto community is looking for positive headlines to take crypto prices broadly up even higher. The tailwind from the Trump trade is starting to weaken as markets have a lot of headlines already priced in.”
Jeff Mei, COO, BTSE, Hong Kong:
“Bitcoin’s surge past the $100,000 mark is not just a milestone; it represents a pivotal moment for the cryptocurrency industry. The confidence is spurred by an increasingly favourable regulatory environment in the U.S., particularly with the appointment of Paul Atkins to chair the SEC. This is likely to drive further institutional investment in the sector, giving Bitcoin more credibility and leading to a new wave of adoption. Looking forward, Bitcoin could reach even greater heights as more institutions begin to perceive it as a viable store of value and allocate funds to Bitcoin ETFs. I’d also expect more institutions to rotate into Ethereum ETFs, which haven’t been as popular as the Bitcoin ones up until now.”
Geoff Kendrick, Global Head of Digital Assets Research, Standard Chartered, London:
“At the end of the day, it’s just a number…but the reality is we’ve been able to get to this level because the industry has become institutionalised this year particularly – and that’s mostly the ETF inflows. Roughly 3% of the total supply of bitcoins that will ever exist have been purchased in 2024 by institutional money.”
Tony Sycamore, Analyst, IG, Sydney:
“After spending the past 12 sessions working off overbought readings and rebuilding energy, the King of Crypto has smashed its way above $100k in trading today. This is likely to be the catalyst for the next wave of momentum buying which takes it towards the next stop of $105k, before $120k in 2025.”
A Turning Point for Bitcoin
Justin d’Anethan, Independent Crypto Analyst, Hong Kong:
“Bitcoin crossing $100,000 is more than just a milestone; it’s a testament to shifting tides in finance, technology, and geopolitics. The figure not that long ago dismissed as fantasy, stands as a reality. Institutional adoption is evident, as seen by the increased volume on the CME, ETFs (exchange traded funds), and derivatives markets during U.S. hours. Essentially, funds now need to either get involved or risk standing on the sidelines while more gutsy competitors potentially outperform.”
Bobby Ong, Co-founder, CoinGecko, Kuala Lumpur:
“Bitcoin reaching the $100,000 milestone marks a significant moment for the cryptocurrency market, reflecting its growing maturity and mainstream adoption. The psychological importance of $100,000 is also attracting new investors and driving market sentiment. This rally demonstrates Bitcoin’s position as a leading financial innovation, solidifying its reputation as a digital store of value and a hedge against traditional economic uncertainties. It also underscores the growing acceptance of cryptocurrencies as a legitimate asset class.”
Richard Teng, CEO, Binance, Dubai:
“Almost 16 years since its first block was mined in 2009, bitcoin has reached the landmark milestone of $100K per coin, placing the asset at a total market capitalisation of $2.1 trillion. This also places bitcoin firmly on the very short list of just seven assets or companies that have achieved more than 2 trillion dollars in market capitalisation, the rest being gold and tech giants NVIDIA, Apple, Microsoft, Alphabet (Google), and Amazon.”
Jean-Baptiste Graftieaux, CEO, Bitstamp, Luxembourg:
“Bitcoin reaching $100,000 is a watershed moment, highlighting its resilience after a challenging few years. Despite shifts in the political and regulatory landscape, bitcoin has proven its staying power. This milestone reflects the growing maturity of the crypto market, as traditional financial institutions and retail customers increasingly embrace digital assets. Looking ahead, we anticipate broader integration of crypto into retail, professional and institutional holdings and pensions, coupled with a more diverse range of trading services and instruments, mirroring the evolution of traditional finance.”
Balancing Optimism with Skepticism
Ray Attrill, Head of FX Research, NAB, Sydney:
“It’s the ultimate speculative asset, isn’t it.”
“I wasn’t surprised … it was probably the cleanest ‘Trump trade’. Just from a regulatory point of view and the concept of a much more easily traded asset, it’s justified its run up, though it’s now taken on a life of its own.”
“The test will be if we do have a big puke in risk sentiment at some point, and we start to see a major stock market correction. Where does crypto sit in that? I don’t know the answer.”
Shane Oliver, Chief Economist, AMP, Sydney:
“As time goes by it’s proving itself as part of the financial landscape, slotting in more as a store of value as opposed to a regular asset you can value on the basis of things it produces, like shares.”
Looking Ahead
As Bitcoin surpasses this historic milestone, experts agree it signifies the cryptocurrency’s growing maturity and mainstream acceptance. Institutional adoption, ETF inflows, and a supportive regulatory environment under Trump’s administration are expected to propel Bitcoin and other cryptocurrencies to even greater heights.
The $100,000 mark is not just a number, it’s a statement of Bitcoin’s resilience and its place as a transformative financial asset.
