Bitcoin breaks USD 100,000 barrier amid bullish market sentiment, increasing adoption from institutions
Updated: Sep 3
Bitcoin has smashed through the $100,000 barrier for the first time, surging to a record above $103,000 in a landmark move that has electrified cryptocurrency markets and strengthened the digital asset’s position within mainstream global finance.
Bitcoin climbed as high as $103,649 on 5th December 2024, extending a powerful rally fuelled by institutional demand, exchange-traded fund inflows and expectations of a more supportive regulatory environment under President-elect Donald Trump. The cryptocurrency had more than doubled in value during the year.
Mike Novogratz, founder and chief executive of Galaxy Digital, described the move as a fundamental change for the sector.
Novogratz said, "We’re witnessing a paradigm shift," pointing to institutional adoption, tokenisation, payments development and greater regulatory clarity as forces pushing digital assets towards the financial mainstream.
Institutional participation has become an increasingly important driver of Bitcoin’s rise. US-listed spot Bitcoin exchange-traded funds, approved earlier in 2024, provided traditional investors with a regulated route into the cryptocurrency and attracted billions of dollars in capital following the US election.
Geoff Kendrick, global head of digital assets research at Standard Chartered said, "Digital assets, as an asset class is becoming normalised."
Bitcoin’s advance also boosted sentiment across the wider cryptocurrency market as investors increased exposure to other major digital assets amid expectations of continued sector growth.
However, volatility remains a significant risk. Bitcoin has previously experienced steep corrections following major rallies, leaving investors exposed to rapid price swings despite increasing institutional adoption.
The breakthrough above $100,000 nevertheless represents one of Bitcoin’s most significant milestones, demonstrating how far the cryptocurrency has moved from a speculative niche towards an increasingly established component of global financial markets.