On December 5, 2024, BTC reached a historic milestone: the price broke through $100,000 for the first time!
This is a day of celebration for global crypto enthusiasts, and a milestone for the financial markets. Some exclaim "Finally, we've witnessed $100,000!", while others ponder calmly: "And then what?"
BTC has come a long way, from $0.01 to $100,000. What has happened behind the scenes? Let's review, analyze, and even look ahead to the future of this digital currency revolution.
How did BTC get here?
1.The past of "pizza" and "mining rigs": from niche experiment to global revolution In 2009, BTC was quietly born, initially just a toy for geeks. In 2010, programmer Laszlo used 10,000 BTC to buy two pizzas, which were worthless at the time. But these early geeks probably didn't expect BTC to become an important part of the global financial system.
Back then, whoever owned BTC felt like they had found a "seemingly useless pile of stones." But this "stone" has now become digital gold.
2.The ups and downs of 16 years: countless crashes, countless rebirths
- 2011: First broke through $1, shocking everyone.
- 2013: After breaking $1,000, it plunged into a winter due to the collapse of the Mt.Gox exchange.
- 2017: Surged to $20,000, attracting global attention, but then crashed to $3,000.
- 2021: Broke through $60,000, becoming a mainstream asset class pursued by institutions.
- 2024: With the approval of ETFs, bringing in hundreds of billions of dollars, BTC finally reached $100,000!
The growth journey of BTC is a history of emotions woven by countless people, with some getting rich and some going bankrupt; some mocking, some believing.
3.ETF: The fuse that ignites the bull market In early 2024, the US approved the first BTC spot ETF (exchange-traded fund), and capital flooded in. Major traditional financial giants, and even banks that have long been skeptical of BTC, have also started to allocate it. In just a few months, BTC's market cap surged from $1 trillion to $2 trillion, breaking through the $100,000 mark.
Why did BTC break through $100,000?
1.Scarcity and value storage function The total supply of BTC is fixed at 21 million, with 85% already mined, and the remaining coins will take decades to release. Faced with this absolute scarcity, it has become "digital gold", attracting institutional and individual investors.
2.Decentralization and sovereign resistance In 2024, several countries' economies fell into crisis, with severe currency devaluation, and BTC's decentralized nature made it a safe-haven asset. For example, countries like Argentina and Turkey have seen persistently high inflation rates, and more and more people are using BTC to protect their assets.
3.Global digitalization trend Every corner of people's lives is becoming digitalized, and BTC is the native currency of the internet. From cross-border payments to smart contract applications, BTC is no longer just a "tool for speculation", but has become an important part of the global economy.
Where is BTC headed after $100,000?
1.Global adoption Currently, about 8% of internet users worldwide own cryptocurrencies, while the internet penetration rate is close to 65%. This means that there are still 5 billion potential users who have not yet entered the crypto world. If these people start using BTC, even if each person allocates 0.01 BTC, the price of BTC could soar to over $500,000!
2.Institutionalization and sovereign state deployment With the approval of ETFs, more and more institutions are entering the BTC market, and traditional financial giants like BlackRock, Fidelity, and UBS are all launching BTC products. Some countries, such as El Salvador, have even directly adopted BTC as legal tender. In the future, BTC may become part of the foreign exchange reserves of central banks!
3.Integration of emerging technologies and Web3 The BTC ecosystem is not limited to payments, it is gradually integrating with new technologies such as Web3, DeFi, and the metaverse. The future of BTC will be a part of the financial infrastructure.
Will BTC become a "bubble"?
This has always been a controversial topic in the market. Critics argue that BTC has no intrinsic value and is only being speculated on by investors; supporters believe that BTC's value lies in its consensus and scarcity.
1.Opposing views:
- Lack of practicality, unable to replace existing payment systems.
- Extreme volatility, unsuitable for value storage.
- Environmental issues, mining consumes a lot of energy.
2.Supporting views:
- A payment system that does not require trust in any third party.
- Inflation-resistant and censorship-resistant, especially in unstable regions.
- From a niche experiment to mainstream recognition, this is the embodiment of value.
Our historic moment
Today, BTC breaking through $100,000 marks a stage victory in a digital revolution. However, this is just the beginning. BTC may bring more far-reaching changes:
- Reconstruction of the financial system: More people will flee fiat currencies and enter the decentralized currency world.
- Combination of technology and humanities: Allowing people without bank accounts to also enjoy financial services.
- New global economic order: BTC may become the new "digital reserve currency".
Is $100,000 the endpoint for BTC? Looking back, whenever BTC first had an anchored value, and then broke through $1, $100, and $10,000, there were always people asking this question. Until today, BTC has told us with one historic moment after another that any price is not its endpoint. $100,000 is just a number, the future is what we look forward to. Imagine a world where everyone can freely and securely use BTC, what kind of world will we live in?
The total supply of BTC is 21 million, but the global crypto market has over 400 million investment users, while the number of wallets holding more than one BTC is only 1.5 million, accounting for 0.36% of crypto users. In this vast digital ocean, do you also yearn to have your own share of BTC, and witness and participate in this transformation together?
