Bitcoin Price first surpassed the $95,000 mark on Wednesday night, marking a new milestone in the history of the world's largest cryptocurrency. Over the past month, Bitcoin has recorded a 41% increase, and since the beginning of 2024, its value has increased by more than 105%.
Nathan McCauley, CEO and co-founder of Anchorage Digital, shared:
"The approval of Bitcoin ETF options not only represents progress in the development of the cryptocurrency ETF market, but also marks the consolidation of Bitcoin's position as a key investment asset, on par with stocks, bonds, and commodities in the institutional investment community."
The Bitcoin ETF options contracts officially debuted this week, with BlackRock's iShares Bitcoin Trust (IBIT) beginning trading on Tuesday, followed by ETFs from Bitwise and Grayscale on Wednesday.
Bloomberg ETF analyst James Seyffart said:
"The total trading volume of IBIT options on the first day reached $1.9 billion, with 354,000 contracts traded, of which 289,000 were call contracts and 65,000 were put contracts. This ratio is 4.4:1. These options appear to have contributed to the strong upward momentum of Bitcoin, reaching a record high today."
The recent market rally began on November 5, when Donald Trump expressed support for cryptocurrencies and defeated Vice President Kamala Harris in the US presidential election. The president-elect's team is said to be considering developing a focused cryptocurrency policy strategy, marking the first time the White House has taken such a step.
Although there are differences in predictions about when Bitcoin will surpass the $100,000 mark, most experts agree that this milestone is likely to be conquered within the next two months, or even sooner.
The market capitalization of MicroStrategy (MSTR) has surpassed $100 billion and has now surpassed Intel, a giant in the semiconductor industry. With strong growth, MicroStrategy's stock is expected to continue rising, especially as analysts expect the company's Bitcoin buying wave to accelerate faster than previously forecast.
Data from Yahoo Finance shows that on November 20, Intel had a market capitalization of $103.5 billion, while MicroStrategy had a market capitalization of over $106.4 billion.
The recent crypto market boom has also been driven by Donald Trump's victory in the US presidential election, with many believing his win will bring certain benefits to the cryptocurrency industry.
Bloomberg Intelligence analyst Eric Balchunas said on November 20 that MicroStrategy was the stock with the highest trading volume in the US, surpassing big names like Tesla and Nvidia.
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Annie
Bitcoin Magazine
