{"id":133550,"date":"2024-12-05T10:05:50","date_gmt":"2024-12-05T03:05:50","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=133550"},"modified":"2024-12-05T10:05:50","modified_gmt":"2024-12-05T03:05:50","slug":"bitcoin-tops-100000-as-monster-2024-rally-reaches-new-heights","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=133550","title":{"rendered":"Bitcoin tops $100,000 as monster 2024 rally reaches new heights"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"SpecialReportArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"SpecialReportArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107354835\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>A neon sign indicates that Bitcoin is accepted inside the venue of the Paralelni Polis project, an organization combining art, social sciences and modern technology, in Prague, Czech Republic, on Friday, Jan. 5, 2024.<\/p>\n<p>Milan Jaros | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The price of bitcoin soared past the long-awaited $100,000 benchmark for the first time ever late Wednesday evening.<\/p>\n<p>The flagship cryptocurrency was last higher by more than 5% at $101,072.00, according to Coin Metrics. Earlier, it rose as high as $101,555.40. <\/p>\n<p>The move came hours after President-elect <a href=\"https:\/\/www.cnbc.com\/donald-trump\/\">Donald Trump<\/a> <a href=\"https:\/\/www.cnbc.com\/2024\/12\/04\/trump-plans-to-nominate-paul-atkins-as-sec-chair.html\">announced plans to nominate Paul Atkins<\/a> as chair of the Securities and Exchange Commission, a move viewed by the crypto community as being in keeping with his promise not just to replace Gary Gensler \u2014 who has become something of a villain in crypto for the agency&#8217;s regulation-by-enforcement approach to the industry under his leadership \u2014 but to set up a more supportive regulatory environment for the crypto industry more broadly. <\/p>\n<p>In the same day, Federal Reserve chair Jerome Powell said bitcoin is &#8220;just like gold only it&#8217;s virtual, it&#8217;s digital,&#8221; <a href=\"https:\/\/www.cnbc.com\/2024\/12\/04\/watch-fed-chair-jerome-powell-speak-live-at-the-dealbook-conference.html\">speaking at the DealBook conference<\/a>. He further clarified that &#8220;people are not using it as a form of payment, or as a store of value&#8221; and that &#8220;it&#8217;s not a competitor for the dollar, it&#8217;s really a competitor for gold.&#8221;<\/p>\n<p>It&#8217;s a day of celebration for longtime bitcoin investors, who have held on for dear life, or &#8220;HODL&#8217;d&#8221; through several of the cryptocurrency&#8217;s boom and bust cycles, during which government and financial institutions remained dismissive \u2014 and even hostile \u2014 toward the asset class.<\/p>\n<\/div>\n<div class=\"group\">\n<p>That&#8217;s largely because of the cryptocurrency&#8217;s anti-establishment roots. The original idea for Bitcoin was proposed at the height of the 2008 financial crisis: a &#8220;peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution,&#8221; its founder, Satoshi Nakamoto, wrote in the <a href=\"https:\/\/bitcoin.org\/bitcoin.pdf\" target=\"_blank\" rel=\"noopener\">Bitcoin Whitepaper<\/a>.<\/p>\n<p>In recent years, however, the industry has demonstrated the value of bitcoin to much of the institutional investing world.\u00a0<span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"SpecialReportArticle-QuoteInBody-5\"><a href=\"https:\/\/www.cnbc.com\/quotes\/BLK\/\">BlackRock<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, Fidelity,\u00a0<span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"SpecialReportArticle-QuoteInBody-6\"><a href=\"https:\/\/www.cnbc.com\/quotes\/IVZ\/\">Invesco<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and others launched the first spot bitcoin ETFs at the beginning of this year \u2014 bitcoin&#8217;s &#8220;IPO&#8221; moment \u2014 and the growing demand for them by institutions has helped drive the price higher. In November, Rick Wurster, the incoming CEO of <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"SpecialReportArticle-QuoteInBody-7\"><a href=\"https:\/\/www.cnbc.com\/quotes\/SCHW\/\">Charles Schwab<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, said the firm is <a href=\"https:\/\/finance.yahoo.com\/news\/charles-schwab-incoming-ceo-feel-205546065.html\" target=\"_blank\" rel=\"noopener\">preparing to enter spot crypto trading<\/a>, pending regulatory changes expected in the next Trump administration.<\/p>\n<p>&#8220;We&#8217;re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,&#8221; Mike Novogratz, CEO of Galaxy Digital, told CNBC.<\/p>\n<\/div>\n<div class=\"group\">\n<p>Bitcoin has been <a href=\"https:\/\/www.cnbc.com\/2024\/11\/08\/tom-lee-says-bitcoin-could-hit-six-figures-before-year-end.html\">widely expected to reach the landmark $100,000<\/a> level since the U.S. presidential election. However, excited investors sent bitcoin closer to this mark much sooner than initially anticipated; it rose as high as $99,849.99 on Nov. 22. There is much hope that President-elect Trump will deliver on <a href=\"https:\/\/www.cnbc.com\/2024\/11\/06\/trump-claims-presidential-win-here-is-what-he-promised-the-crypto-industry-ahead-of-the-election.html\">several pro-crypto initiatives<\/a> in the year ahead \u2013 including the establishment of a national strategic bitcoin reserve or stockpile, no taxes on crypto transactions and opening up the crypto public equity markets with more IPOs.<\/p>\n<p>&#8220;Over the long term, I&#8217;m bullish,&#8221; Novogratz added. &#8220;It won&#8217;t be a straight line up, and investors should always consider taking gains off the table. But, with a pro-crypto administration about to take charge in the U.S., it&#8217;ll be hard for the rest of the world not to take notice.&#8221;<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"SpecialReportArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 class=\"RelatedContent-header\">Don&#8217;t miss these cryptocurrency insights from CNBC PRO: <\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/12\/05\/bitcoin-tops-100000-as-monster-2024-rally-reaches-new-heights.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A neon sign indicates that Bitcoin is accepted inside the venue of the Paralelni Polis project, an organization combining art, social sciences and modern technology, in Prague, Czech Republic, on &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=133550\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-133550","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/133550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=133550"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/133550\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=133550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=133550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=133550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}