Bitcoin (CRYPTO: BTC), some sixteen years after its inception as a lesser-known decentralized digital money, is now worth over $100,000. Yes, you heard it right!
What happened: The world's largest digital asset breached the historic frontier, Wednesday night, after tantalizing the cryptocurrency community for the past ten days at values slightly below it.
The marquee achievement was celebrated with immense enthusiasm.
El Salvador President Nayib Bukele, known globally for steering his country toward an all-in Bitcoin strategy, laughed at those who questioned his approach.
MicroStrategy CEO Michael Saylor, who evangelized Bitcoin's corporate adoption, said he would throw a $100,000 party.
Coinbase CEO Brian Armstrong wished everyone a "Happy Bitcoin $100,000 Day." deeming the asset as the best-performing asset of the last 12 years.
Silicon Valley investor and prominent cryptocurrency advocate Balaji Srinivasan said, "The first $100,000 is the hardest."
See Also: CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying
Prominent pro-Bitcoin voices from the political fraternity also cheered the event.
Senator Cynthia Lummis (R-Wyo.), who has proposed a bill for a strategic Bitcoin reserve, wrote on X, "Don't stop ₿elieving.VBitcoin reaches $100,000."
Vijay Boyapati, author of “The Bullish Case for Bitcoin,” predicted that Bitcoin's next move would be "swift and violent."
"There is very little supply now. Everyone who had $100,000 as their “magic number” is gone."
Amid the enthusiasm, staunch Bitcoin critic Peter Schiff attributed Bitcoin's rise to government intervention and political payoffs.
"What couldn’t be done in a free market was achieved through the cohesive power of the state," Schiff argued.
Price Action: Meanwhile, Bitcoin continued to push well over $100,000, trading at $103,158.89, up 7.58% in the last 24 hours, according to data from Benzinga Pro.
Image via Pixabay
Read Next:
