(Reuters) – The election of Republican Donald Trump as U.S. president raises hopes that his administration will bring about a crypto-friendly regulatory environment, with cryptocurrencies hitting a record high above $100,000 on Thursday. was recorded.
The world's largest cryptocurrency last traded at $102,900.
Since President Trump's victory on November 5, prices have increased by about 45%, driven by a huge buying spree that poured money into US Bitcoin-backed exchange-traded funds (ETFs).
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Dan Coatsworth, Investment Analyst AJ Bell, London
“Breaking through the $100,000 level does not mean Bitcoin will go mainstream. It is just a psychological factor and ultimately it is just a number.
“The skyrocketing value of cryptocurrencies has made many people rich this year, but this high-risk asset is not suitable for everyone. It is volatile, unpredictable, and subject to speculation. None of them are investments that will keep you up at night.
Chan Wei Liang, Foreign Exchange and Credit Strategist, DBS, Singapore:
The price of Bitcoin is rising, and crypto adoption may be reaching an inflection point in the United States.
The incoming Trump administration is expected to be more crypto-friendly, with progress in establishing a U.S. Bitcoin Strategic Reserve in 2025, along with changes to regulatory guidelines that could help the industry grow. There is a possibility.
Yoshiki Omori, Mizuho Securities, Chief Japan Desk Strategist, Tokyo
“Retail investors must be excited to see BTC price rise above $100,000 following the news that Paul Atkins has been named SEC Chairman. Of course, this doesn't mean BTC will rise forever because there will be profit-taking.
“If BTC is to move higher from here, I think the other crypto majors should catch up a bit first. Ethereum looks cheap versus Bitcoin. It has spiked, but I see profit taking again at $2.80. The crypto community market is already pricing in a lot of headlines and the tailwinds from the Trump trade are starting to wane.
Jeff May, COO of Hong Kong BTSE
“Bitcoin’s soaring above $100,000 is not just a milestone, but represents a pivotal moment for the crypto industry.
“This confidence is fueled by the increasingly favorable U.S. regulatory environment, particularly the appointment of Paul Atkins as SEC Chairman. This will further promote Bitcoin's reliability, increase the credibility of Bitcoin, and likely lead to a new wave of Bitcoin.”
“In the future, Bitcoin could reach even greater heights if more financial institutions recognize Bitcoin as a viable store of value and start allocating funds to Bitcoin ETFs. , we also expect more financial institutions to rotate into Ethereum ETFs, which have not been as popular as they have been with Bitcoin to date. ”
Jeff Kendrick, Global Head of Digital Asset Research, Standard Chartered, London
“At the end of the day, this is just a number…but the reality is that we were able to reach this level because the industry became institutionalized especially this year. And that's largely due to the influx of ETFs. .”
“In 2024, approximately 3% of the total supply of Bitcoin that will ever exist will be purchased by institutional investors.”
Tony Sycamore, Analyst, Sidney, Illinois
“After correcting overbought numbers and rebuilding energy over the past 12 sessions, the king of cryptocurrencies broke above $100,000 in today's trading.
“This is likely to be the catalyst for the next wave of momentum buying towards the next stop at $105,000 before $120,000 in 2025.”
Kyle Rodda, Senior Financial Markets Analyst, Capital.com, Melbourne
“This is a huge milestone for true believers and could be proof of asset vindication. If we're going to go from here, I believe this could continue. There's a reason why these year-end crashes often see Bitcoin more than double in value.
“Given lower regulatory risk, continued attraction to non-statutory assets due to perceived US fiscal waste, and increased geopolitical risk, there are continuing tailwinds that could support price appreciation.”
Justin Dantin, Independent Cryptocurrency Analyst, Hong Kong:
“Bitcoin’s passing of $100,000 is more than just a milestone; it is evidence of changing trends in finance, technology, and geopolitics. exists as.”
“Adoption by institutional investors is clear, as evidenced by increased volume in the CME, ETF (exchange traded fund), and derivatives markets during U.S. business hours. Fundamentally, funds are now more involved. or risk standing on the sidelines while a more courageous competitor potentially emerges.'' ”
Bobby Ong, COINGECKO Co-Founder, Kuala Lumpur:
“Bitcoin reaching the $100,000 milestone is a significant moment for the crypto market, reflecting its growing maturity and mainstream adoption.
“The psychological importance of $100,000 is also attracting new investors and driving market sentiment. This rise signals Bitcoin’s position as a leading financial innovation and digital store of value. and solidified its reputation as a hedge against traditional economic uncertainty.”
“This also confirms that cryptocurrencies are gaining acceptance as a legitimate asset class.”
Shane Oliver, Chief Economist and Head of Investment Strategy, AMP (OTC:), Sydney:
“Over time, it has proven to be part of the financial environment, making investing as a store of value as opposed to a regular asset that can be valued based on what it produces, like stocks. It is increasing.
Ray Attrill, Head of FX Research, NAB, Sydney:
“This is the ultimate speculative asset.
“I wasn't surprised…this was probably the cleanest 'Trump trade' ever, even though from a regulatory perspective and the concept of more easily traded assets, it's dead now. , its rise was justified in its own right.
“The test will be whether we see a significant deterioration in risk sentiment at some point and a significant stock market correction. Where does crypto fit into that? We don’t know the answer.”
Richard Teng, CEO, Binance, Dubai:
“Nearly 16 years after the first block was mined in 2009, Bitcoin has reached the milestone of $100,000 per coin and the asset’s market capitalization has reached $2.1 trillion. did.
“This firmly places Bitcoin on the very short list of just seven assets or companies with a market capitalization over $2 trillion, the rest being gold and tech giants NVIDIA (NASDAQ:), Apple (NASDAQ:) , Microsoft (NASDAQ:), Alphabet (NASDAQ:) (Google), Amazon (NASDAQ:).
“With talk of a U.S. strategic Bitcoin reserve and more companies adding Bitcoin to their treasury, we are on the brink of true mainstream global adoption.”
JEAN-BAPTISTE GRAFTIEAUX, BITSTAMP CEO, Luxembourg:
“Bitcoin reaching $100,000 is a turning point that highlights Bitcoin’s resilience after several years of hardship. He has proven his strength.
“This milestone reflects the growing maturity of the crypto market, as traditional financial institutions and individual customers increasingly embrace digital assets. We expect a broader integration of cryptocurrencies into the holdings and pensions of individuals, professionals and institutional investors, coupled with 'trading services and products that reflect the evolution of traditional finance. ”
