Bitcoin reached a historic milestone early Thursday morning (PKT), surpassing the $100,000 mark for the first time since its inception. The flagship cryptocurrency hit a record high of $103,679 before settling at $103,300 by 8 AM. By 9:15 AM, Bitcoin was trading at $103,000, and shortly after, at 9:20 AM, it was up 7.74 percent, trading around $103,216.

At the time of reporting, Bitcoin’s fully diluted market capitalization stood at $2.17 trillion, with 19.79 million coins in circulation. This surge marks a significant recovery from 2022, when Bitcoin’s value fell below $16,000. Since then, it has gained nearly $88,000 in aggregate value. Starting 2024 at approximately $44,000, Bitcoin has experienced a remarkable 120 percent increase.

The recent rally is attributed to increased confidence among institutional investors and President Donald Trump’s appointment of Paul Atkins, a pro-crypto advocate, as the new SEC chair. Market participants credit Trump’s recent election victory as a key factor in Bitcoin’s record-breaking performance, anticipating that his presidency will usher in new rights and opportunities for cryptocurrencies.

The investor community remains optimistic about the future of cryptocurrencies under Trump’s leadership, expecting further regulatory advancements and market growth. This sentiment has contributed to Bitcoin’s unprecedented rise, reinforcing its position as a leading digital asset in the global financial landscape.