Bitcoin Surpasses $100,000 in Value For the First Time in History

In a world first, Bitcoin has managed to surpass $100,000 in value. This comes after rumours that President-elect Trump might support the crypto industry.

The spike in value was also supported by Mt. Gox’s transfer of 24,051 BTC, which were valued at over $2 billion since November 12.

The Goal of Mt. Gox is Still Unclear

Mt. Gox was founded in Tokyo in 2010 and at one point, it was considered the largest BTC exchange globally. It held more than 70% of all Bitcoin transactions, but a major scandal in 2014, where over 850,000 BTC was lost, major credibility was lost.

Many of the investors are still waiting for their payouts from the security breach 10 years ago. Some speculate that the recent transfers of over 24,000 BTC are likely a partial payout to the people who were hit the most.

Creditors started getting their hopes up, but the company hasn’t made any official announcements. Back in October, Mt. Gox postponed the repayments to October 31, 2025, and these transfers may indicate that the company will start the process next year.

Trump To Have a Lighter Approach to Cryptocurrencies?

Ever since Trump officially won the presidential elections in the US, the value of Bitcoin has been rising at a fast pace. On Election Day, the price for one Bitcoin was just below $70,000 and since then, its value crossed the $100,000 threshold.

Just before Bitcoin hit the $100,000 mark, the President-elect signaled a lighter approach towards the crypto world. He did that by appointing cryptocurrency advocate Paul Atkins as the next SEC chair.

The new appointment is also one of the reasons why four companies recently filed S-1 forms for spot XRP ETF. The most recent one was WisdomTree. Not only that, but the value of Ripple just hit its 7-year peak and increased its value by over 1,000% in the last month.