Bitcoin Surpasses $100,000... "Ranks Among World's Top 7 Assets"

Source

Korea Economic Daily

Summary

Bitcoin has surpassed $100,000, recording a market cap of $2 trillion.
It was reported that President-elect Donald Trump's pro-crypto policies are the main reason for Bitcoin's rise.
Federal Reserve Chairman Jerome Powell recognized Bitcoin as digital gold, evaluating it as a competitor to gold.

Bitcoin Market Cap Surpasses $2 Trillion

Trump Nominates Pro-Crypto Figure as Next SEC Chairman

Powell: "Bitcoin, a Competitor to Gold"

Bitcoin's price surpassed $100,000 for the first time ever at 11:38 AM on the 5th.

According to the cryptocurrency market tracking site CoinMarketCap, Bitcoin is trading at $103,328 as of 1:10 PM, up 7.77% from the previous day.

The surge in Bitcoin's price is attributed to the pro-crypto policies of U.S. President-elect Donald Trump.

Trump nominated Paul Atkins, a pro-cryptocurrency figure, as the next chairman of the U.S. Securities and Exchange Commission (SEC).

Additionally, Federal Reserve Chairman Jerome Powell's statement that "Bitcoin is a competitor to gold, not the dollar," recognizing Bitcoin as digital gold, also contributed to the rise in Bitcoin's price.

Meanwhile, as Bitcoin's price surpassed $100,000 and continued to rise, its total market capitalization exceeded $2 trillion.

As a result, Bitcoin has surpassed the market cap of Saudi Arabia's state-owned oil company Aramco ($1.796 trillion) and has joined the ranks of the world's top 7 assets alongside gold, Apple, NVIDIA, Microsoft, Amazon, and Alphabet (Google).

Reporter Chan-hwi Park pch8477@wowtv.co.kr

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