Bitcoiners Have Laser Eyes on BTC Hitting $103,000 – Trump Says “You’re Welcome!”

Bitcoin, the world’s largest cryptocurrency, broke through the $100,000 mark on December 5, trading at $103,000 and setting an all-time high.

The milestone was widely celebrated across the crypto community, with President-elect Donald Trump taking credit for the milestone.

“Congratulations, Bitcoiners! $100,000! You’re welcome! Together we will make America great again!” Trump wrote on Truth Social.

His comments came as Bitcoin surged more than 120% this year, driven by pro-crypto sentiment and expectations of favorable regulations under his administration.

Bitcoin’s recent rally has pushed its market capitalization to $2 trillion, surpassing major S&P 500 companies such as Meta, Tesla and Berkshire Hathaway.

Bitcoin started the year at just over $44,000 and has repeatedly broken new price records in recent weeks.

ARK Invest CEO Cathie Wood called the $100,000 milestone a sign of cryptocurrency’s growing role in global finance.

“Bitcoin is a much bigger idea than gold,” Wood said on December 5, referring to Federal Reserve Chairman Jerome Powell’s previous description of Bitcoin as “digital gold.”

She also reiterated her prediction that Bitcoin could reach $1 million by 2030.

Meanwhile, Geoff Kendrick of Standard Chartered Bank predicts that Bitcoin could reach $200,000 by the end of 2025, having already risen above $100,000.

According to Kendrick, institutional investors dominated Bitcoin flows this year, buying 683,000 Bitcoins through US spot exchange-traded funds and large acquisitions by companies like MicroStrategy. Kendrick noted that over 245,000 Bitcoin inflows occurred after the US presidential election.

He added: “In 2025, we expect institutional inflows to match or exceed the 2024 pace.”

The rally follows Trump’s announcement that he would appoint Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC). Trump’s decisions are seen as a clear signal of a change towards a more innovation-friendly regulatory landscape.

Nayib Bukele, President of El Salvador, responded to X by sharing a screenshot of the country’s Bitcoin holdings.

According to the screenshot, El Salvador’s current Bitcoin balance is $603.34 million, up 117.74% year-to-date. The country has made a total profit of $333.59 million from an initial investment of $269.74 million, reaching an all-time high as Bitcoin surpassed the $100,000 mark.

While the crypto community celebrated Bitcoin’s new highs, the market demonstrated its resilience in the face of a massive Bitcoin transfer.

The story continues