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BITCOIN SURPASSES $100,000 : Bitcoin, the world’s largest cryptocurrency, has reached a historic milestone, crossing the $100,000 mark for the first time on December 5, 2024. This development comes just weeks after it surpassed $90,000, marking an extraordinary surge in its value. As of now, Bitcoin’s market capitalization stands at a staggering $2 trillion. Several factors have contributed to this meteoric rise. The fourth Bitcoin halving event in April, which reduced the rate of new supply, has significantly constrained supply while strong demand continues to push prices higher. Additionally, the approval of Bitcoin-focused exchange-traded funds (ETFs) in the United States has driven over $31 billion in inflows this year. These ETFs provide institutional investors with a streamlined pathway to engage with Bitcoin, further bolstering its price. Political developments, particularly the election of Donald Trump as U.S. president, have also played a critical role. Following Trump’s victory, Bitcoin surged past $81,000, fueled by his pro-crypto policies. Trump has vowed to make the U.S. the “crypto capital of the planet” and announced plans for a national Bitcoin “strategic reserve.” His appointment of blockchain advocate Paul Atkins to chair the Securities and Exchange Commission (SEC) has further strengthened confidence in the digital asset ecosystem. Industry leaders have celebrated this milestone as a sign of Bitcoin entering the financial mainstream. Mike Novogratz, CEO of Galaxy Digital, remarked, “We’re witnessing a paradigm shift. This momentum is fueled by institutional adoption, advancements in tokenization and payments, and a clearer regulatory path.” Bitcoin’s rise has been nothing short of remarkable since its inception in 2009 by the pseudonymous Satoshi Nakamoto. Originally envisioned as a decentralized currency, it has grown exponentially through cycles of speculation, technological advancements, and increasing global adoption. Past bull runs include a 1,900% surge in 2017, reaching $20,000 for the first time, and a peak of $69,000 during the COVID-19 pandemic in 2021. This year, Bitcoin’s price has risen by an impressive 126%, currently trading at $102,705.90—a 4% increase in the last 24 hours. However, challenges persist, including regulatory scrutiny and environmental concerns tied to its energy-intensive mining processes. While some analysts predict further growth to $120,000 or more by year-end, others warn of potential pullbacks as investors take profits. #snsinstitutions #snsdesignthinkers #designthinking

El La-La-Land makes a small paper profit on bitcoin! 🍾🥂🎉🎊 Cointelegraph reports: "President Nayib Bukele’s decision to adopt Bitcoin made the country a historical digital asset pioneer, according to Alex Momot, founder and CEO of crypto trading platform Peanut Trade. He told Cointelegraph: “El Salvador’s experiment with Bitcoin can be seen as a success. The country acted as a pioneer, taking risks and trying something radically new. While it’s too early to declare whether all aspects of the reform were successful, it’s clear that El Salvador has reaped some benefits.”" Really? "According to Momot, El Salvador’s $31 million Bitcoin profit makes the decision a net positive in economic terms despite the initial criticism. The CEO told Cointelegraph: “This financial gain further strengthens Bukele’s position, as the initiative now appears to be yielding tangible benefits, adding another layer of validation to his bold cryptocurrency experiment.” El Salvador currently holds a total of 5,865 Bitcoin worth over $318 million, according to the country’s treasury website." 🤔 So, if we deduct $31 million from $318 million, that's a capital investment of roughly $287 million for a roughly 10.8% paper profit over three years. Is that why Momot runs the Peanut Trade? Plus, try liquidating any substantial amount of that "investment" and see what happens to your paper profit. Investing in an index fund would likely have resulted in higher returns in more liquid investments. But hey, if you like gambling, nothing quite brings the rush like crypto "investments". Less than half a year ago, El Salvador was crowing about much larger profits (again on paper). According to TheStreet (https://lnkd.in/gCB4xZfC), back in March, that paper profit actually sat at $406 million. Which means that its profits have shrunk by about 76% if we assume no new capital was pumped in, which if Bukele kept his word of constant investment, should not be true. And of course: "President Nayib Bukele’s decision received widespread criticism after Bitcoin fell from its previous all-time high of $69,000 in November 2021 after the collapse of the FTX exchange. El Salvador’s Bitcoin holdings fell deeply in the red after Bitcoin fell as low as $16,000 during the bear market." So one assumes this is a rhetorical question: "Why haven’t major economies followed suit?" Seriously? 🤷🏻 You have to ask? 🤦🏻 And of course this wouldn't be a crypto report without a side of misinformation: "[O]nly one additional country has since adopted Bitcoin as legal tender, while major economies remain hesitant. In April 2022, the Central African Republic became the second country to adopt Bitcoin as legal tender and legalized the use of cryptocurrencies to bolster the economy and financial inclusion." You do realise they dropped that within a year, right (https://lnkd.in/gedBX_Ry)? But it wouldn't be the cryptoverse if bad news was not scrubbed from existence. https://lnkd.in/gnMvweQ3

Bitcoin has topped US$87,000 for a new record high.  New York - As money continues to pour into crypto following Donald Trump's victory last week, bitcoin has climbed to yet another record high.The world's largest cryptocurrency topped US$87,000 for the first time on Monday. As of around 3:45 p.m. ET, bitcoin's price stood at US$87,083, per CoinDesk, up over 28 per cent in the last week alone. That's part of a rally across cryptocurrencies and crypto-related investments since Trump won the U.S. presidential election last week. Analysts credit much of the recent gains to an anticipated “crypto-friendly” nature of the incoming administration, which could translate into more regulatory clarity but also leeway. Still, as with everything in the volatile cryptoverse, the future is hard to predict. And while some are bullish, others continue to warn of investment risks (opens in a new tab) . Here's what you need to know. Back up. What is cryptocurrency again? Cryptocurrency has been around for a while now, but seen come under the spotlight in recent years. In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it's typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain. Bitcoin is the largest and oldest cryptocurrency, although other assets like Ethereum, Tether and Dogecoin have gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money — but it can be very volatile, and reliant on larger market conditions. Why are bitcoin and other crypto assets soaring now? A lot of it has to do with the outcome of last week's election. Trump was previously a crypto skeptic, but changed his mind and embraced cryptocurrencies during this year's presidential race. He has pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial (opens in a new tab), a new venture with family members to trade cryptocurrencies.Crypto industry players welcomed Trump’s victory (opens in a new tab) in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for. And Trump had previously promised that, if elected, he would remove the chair of the Securities and Exchange Commission, Gary Gensler, who has been leading the U.S. government’s crackdown on the crypto industry and repeatedly called for more oversight. Robert Edwards Voton

🚀 Bitcoin Hits $100,000: Redefining Wealth, Innovation, and the Future of Money Bitcoin has officially crossed the $100,000 mark, achieving a monumental milestone that cements its place as a revolutionary financial asset. From its humble beginnings in 2008 as an experimental digital currency, Bitcoin’s journey has been nothing short of extraordinary. What’s Driving the Surge? 🔸 Pro-Crypto Leadership: The election of Donald Trump, a vocal Bitcoin supporter, has energized the crypto community. Trump’s appointment of Paul Atkins, a crypto advocate, as the incoming SEC chairman signals a shift towards a more crypto-friendly regulatory environment. 🔸 Institutional Adoption: Wall Street has embraced Bitcoin, with federal regulators green-lighting financial products tied to the cryptocurrency. This move has attracted billions of dollars in fresh investments. 🔸 Market Recovery: After a tumultuous 2022, including the collapse of FTX, Bitcoin has roared back to life, climbing over 50% since election day and more than doubling in value this year. Bitcoin’s Evolution From the infamous “Bitcoin Pizza Day” in 2010, where 10,000 Bitcoins were traded for two pizzas (now worth $1 billion 🍕), to becoming a $2 trillion asset, Bitcoin is no longer a fringe experiment. It surpasses the combined market caps of Mastercard, Walmart, and JPMorgan Chase. Backed by its decentralized nature, blockchain technology, and the support of both institutional and retail investors, Bitcoin has transformed into a global economic powerhouse. A Double-Edged Sword While Bitcoin has become a symbol of financial innovation and independence, challenges remain: ⚠️ Volatility: Bitcoin prices are still prone to sharp fluctuations tied to economic events. 🌱 Environmental Concerns: The energy-intensive mining process raises sustainability questions. 💻 Security Issues: Despite advancements, the technology remains a tool for cybercriminals in some cases. Why This Matters Bitcoin’s rise to $100,000 signifies not just the evolution of digital currency but its integration into mainstream finance and culture. From being mocked as a “fad” to becoming a potential federal asset under Trump’s proposed initiatives, Bitcoin’s journey is a testament to the power of innovation and community. 🔮 What’s Next? The crypto world is buzzing with optimism. With a pro-crypto administration on the horizon, we may see regulatory clarity that fosters growth while ensuring security and sustainability. Let’s hear your thoughts: Could Bitcoin reach $200,000 next? Or are we at the peak of the cycle? 🌐💭 And the last thing I wanna say is HODL #Bitcoin #Cryptocurrency #Blockchain #Finance #Innovation #DigitalCurrency #CryptoRegulations #BitcoinPrice #CryptoNews #FinTech

Bitcoin is back near its all-time high, a series of developments that highlight the growing acceptance of the digital asset industry in the United States under the leadership of cryptocurrency supporter Trump. Earlier, market news that Trump Media Technology (DJT.US) was in talks to acquire digital asset platform Bakkt (BKKT.US) triggered a surge in the stock prices of both companies. Other developments include Nasdaq's plan to list options on the $43 billion iShares Bitcoin Trust as early as Tuesday and Goldman Sachs Group's push to spin off its digital asset platform, which are signs that cryptocurrencies and their underlying blockchain technology are penetrating the financial system. Bitcoin surged to $92,606 in the United States on Monday. As of press time, the price was $91,045, about $2,400 below the record set last week. The largest digital asset has risen 36% since Trump won the election on November 5. Trump's campaign platform includes making the United States the world's crypto capital. A large amount of money is pouring in "The cryptocurrency market is alive again," Chris Weston, head of research at Pepperstone Group, wrote in a report, adding that Trump's media move on Bakkt is "another positive news to boost market sentiment." Trump has promised to establish a U.S. regulatory framework that is favorable to digital assets and to set up a strategic Bitcoin reserve. But when his promise will be fulfilled and the feasibility of the Bitcoin reserve remains uncertain. These issues have sparked a debate about whether Bitcoin and cryptocurrencies can continue to rise. According to data from the Deribit exchange, the highest concentration of open interest (or open contracts) in the options market is bets that Bitcoin will reach $100,000. Katie Stockton, technical analyst at Fairlead Strategies LLC, said some signals from chart patterns suggest that Bitcoin could rise to around $98,100 in the coming weeks. Tony Sycamore, market analyst at IG Australia Pty, said he prefers to buy Bitcoin when it pulls back to $80,000.

Bitcoin is back near its all-time high, a series of developments that highlight the growing acceptance of the digital asset industry in the United States under the leadership of cryptocurrency supporter Trump. Earlier, market news that Trump Media Technology (DJT.US) was in talks to acquire digital asset platform Bakkt (BKKT.US) triggered a surge in the stock prices of both companies. Other developments include Nasdaq's plan to list options on the $43 billion iShares Bitcoin Trust as early as Tuesday and Goldman Sachs Group's push to spin off its digital asset platform, which are signs that cryptocurrencies and their underlying blockchain technology are penetrating the financial system. Bitcoin surged to $92,606 in the United States on Monday. As of press time, the price was $91,045, about $2,400 below the record set last week. The largest digital asset has risen 36% since Trump won the election on November 5. Trump's campaign platform includes making the United States the world's crypto capital. A large amount of money is pouring in "The cryptocurrency market is alive again," Chris Weston, head of research at Pepperstone Group, wrote in a report, adding that Trump's media move on Bakkt is "another positive news to boost market sentiment." Trump has promised to establish a U.S. regulatory framework that is favorable to digital assets and to set up a strategic Bitcoin reserve. But when his promise will be fulfilled and the feasibility of the Bitcoin reserve remains uncertain. These issues have sparked a debate about whether Bitcoin and cryptocurrencies can continue to rise. According to data from the Deribit exchange, the highest concentration of open interest (or open contracts) in the options market is bets that Bitcoin will reach $100,000. Katie Stockton, technical analyst at Fairlead Strategies LLC, said some signals from chart patterns suggest that Bitcoin could rise to around $98,100 in the coming weeks. Tony Sycamore, market analyst at IG Australia Pty, said he prefers to buy Bitcoin when it pulls back to $80,000.

Bitcoin is back near its all-time high, a series of developments that highlight the growing acceptance of the digital asset industry in the United States under the leadership of cryptocurrency supporter Trump. Earlier, market news that Trump Media Technology (DJT.US) was in talks to acquire digital asset platform Bakkt (BKKT.US) triggered a surge in the stock prices of both companies. Other developments include Nasdaq's plan to list options on the $43 billion iShares Bitcoin Trust as early as Tuesday and Goldman Sachs Group's push to spin off its digital asset platform, which are signs that cryptocurrencies and their underlying blockchain technology are penetrating the financial system. Bitcoin surged to $92,606 in the United States on Monday. As of press time, the price was $91,045, about $2,400 below the record set last week. The largest digital asset has risen 36% since Trump won the election on November 5. Trump's campaign platform includes making the United States the world's crypto capital. A large amount of money is pouring in "The cryptocurrency market is alive again," Chris Weston, head of research at Pepperstone Group, wrote in a report, adding that Trump's media move on Bakkt is "another positive news to boost market sentiment." Trump has promised to establish a U.S. regulatory framework that is favorable to digital assets and to set up a strategic Bitcoin reserve. But when his promise will be fulfilled and the feasibility of the Bitcoin reserve remains uncertain. These issues have sparked a debate about whether Bitcoin and cryptocurrencies can continue to rise. According to data from the Deribit exchange, the highest concentration of open interest (or open contracts) in the options market is bets that Bitcoin will reach $100,000. Katie Stockton, technical analyst at Fairlead Strategies LLC, said some signals from chart patterns suggest that Bitcoin could rise to around $98,100 in the coming weeks. Tony Sycamore, market analyst at IG Australia Pty, said he prefers to buy Bitcoin when it pulls back to $80,000.