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
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
