Historic Breakthrough: Bitcoin Tops $100,000
On December 5, Bitcoin achieved a historic milestone by surpassing $100,000 per coin**, reaching **$103,400 with a 7.81% intraday increase. This record-high valuation pushed Bitcoin's total market capitalization beyond $2 trillion**, marking a **140% year-to-date growth**. Notably, Bitcoin's rapid ascent from **$68,000 to $100,000 took just one month, underscoring intensified market momentum.
Key Market Reactions:
- Cryptocurrency Stocks Rally: Ethereum traded at $3,839 during the surge.
Institutional Adoption: U.S. spot Bitcoin ETFs now hold $82 billion in assets, tripling since January.
- BlackRock's IBIT ETF set records with $11 billion in daily inflows.
Powell's Perspective: Bitcoin vs. Gold
Federal Reserve Chair Jerome Powell commented at the DealBook Summit:
"Bitcoin's competitor is gold, not the dollar. It’s a virtual store of value with high volatility, unsuitable for payments."
Core Takeaways:
- Bitcoin’s primary rivalry lies with gold, not fiat currencies.
- Its price instability limits utility as a medium of exchange.
Meitu’s Crypto Exit: $570 Million Profit
Hong Kong-listed Meitu Inc. (01357.HK) offloaded its entire cryptocurrency holdings in December 2024, netting $79.63 million (~¥571 million). The company sold:
- 31,000 ETH ($100 million)
- 940 BTC ($80 million)
Strategic Shift:
- Proceeds will fund core business expansion and a special dividend (80% of profits).
- Initial $1 million investment in 2021 yielded a 5.7x return.
Analyst Predictions: Volatility and Growth
Price Forecasts:
- 2024 Year-End: $125,000
- 2025 Year-End: $200,000
Risk Warnings:
- High Leverage: Amplifies market crashes (e.g., rapid liquidations).
- Regulatory Uncertainty: Policies in the U.S. and E.U. may reshape demand.
Global Crypto Developments
1. U.S. Regulatory Shift
- Trump-appointed SEC Chair Paul Atkins (pro-crypto) may ease regulations.
- Analysts predict $225,000/BTC by 2026.
2. Russia’s Pro-Crypto Stance
- President Putin endorsed cryptocurrencies as sanction-proof assets.
- New law classifies crypto as "property" with a tax framework effective 2025.
FAQ Section
Q1: What drove Bitcoin’s price to $100,000?
- Institutional ETF inflows, limited supply, and halving effects.
Q2: Is Bitcoin safer than gold?
- No. Bitcoin’s volatility makes it riskier for wealth preservation.
Q3: Will Meitu reinvest in crypto?
- Unlikely. The company prioritizes subscription-based image services.
👉 Explore Bitcoin’s latest trends
Conclusion
Bitcoin’s $100,000 breakthrough reflects growing institutional trust but comes with elevated risks. Investors should weigh:
- Long-term potential vs. short-term volatility.
- Geopolitical influences (e.g., U.S./Russia policies).
For strategic insights, visit 👉 OKX’s research hub.