{"id":13426,"date":"2024-12-05T05:50:33","date_gmt":"2024-12-05T05:50:33","guid":{"rendered":"https:\/\/prestmit.io\/blog\/?p=13426"},"modified":"2025-08-08T16:13:04","modified_gmt":"2025-08-08T16:13:04","slug":"bitcoin-hit-100k-driving-historic-price-surge","status":"publish","type":"post","link":"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge","title":{"rendered":"Bitcoin Hit $100K: What\u2019s Driving The Historic Price Surge?  \u00a0"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69dab3576eab3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69dab3576eab3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#Drivers_Of_Bitcoins_Historic_Price_Surge\" >Drivers Of Bitcoin\u2019s Historic Price Surge<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#_1_Trumps_Appointments\" >\u00a01. Trump\u2019s Appointments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#2_Bitcoin_ETFs_AUM\" >2. Bitcoin ETFs AUM<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#3_Corporate_Adoption\" >3. Corporate Adoption<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#4_Bitcoin_Halving\" >4. Bitcoin Halving<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#Where_To_Sell_Bitcoin\" >Where To Sell Bitcoin<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#How_To_Sell_Bitcoin_On_Prestmit\" >How To Sell Bitcoin On Prestmit<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#Frequently_Asked_Questions_FAQs_About_Bitcoin_Hitting_100K\" >Frequently Asked Questions (FAQs) About Bitcoin Hitting $100K<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#Can_I_Sell_My_Bitcoin_Now\" >Can I Sell My Bitcoin Now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#Will_Bitcoin_Reach_500000\" >Will Bitcoin Reach $500,000?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#Where_Can_I_Sell_My_Bitcoin_Now\" >Where Can I Sell My Bitcoin Now?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/prestmit.io\/blog\/bitcoin-hit-100k-driving-historic-price-surge\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">The flagship cryptocurrency, <a href=\"https:\/\/prestmit.io\/blog\/bitcoin-101\">Bitcoin<\/a>, has hit $100K after a dramatic bullish run that started in the post-United States presidential election. The coin, which first rallied above the $80K mark immediately after the declaration of former President Donald Trump as the election winner, had an impressive price trajectory.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It flirted with $100K on November 22, when it traded at over $99,000. However, as BTC had some minor retracement correcting to key support levels of $90,000, its resurgence had propelled it to crack the once-thought mystical valuation of $100K on December 5, rallying over 140% in 2024. <\/span><span style=\"font-weight: 400;\">Bitcoin also set a new all-time high of over $103,000. At the time of writing this article, <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\"><span style=\"font-weight: 400;\">Bitcoin trades at $103,279<\/span><\/a><span style=\"font-weight: 400;\">, up by 7.65% in the past 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, let\u2019s explore the drivers of this historic price surge that has smashed ceilings and brought the predictions of some analysts and experts to fruition.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Drivers_Of_Bitcoins_Historic_Price_Surge\"><\/span><span style=\"font-weight: 400;\">Drivers Of Bitcoin\u2019s Historic Price Surge<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"alignnone wp-image-8174 size-full lazyload\" data-src=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/05\/MotleyFool-TMOT-feccc6d4-bitcoin-logo.jpg\" alt=\"Bitcoin hit $100K\" width=\"1320\" height=\"880\" data-srcset=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/05\/MotleyFool-TMOT-feccc6d4-bitcoin-logo.jpg 1320w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/05\/MotleyFool-TMOT-feccc6d4-bitcoin-logo-1024x683.jpg 1024w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/05\/MotleyFool-TMOT-feccc6d4-bitcoin-logo-150x100.jpg 150w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/05\/MotleyFool-TMOT-feccc6d4-bitcoin-logo-768x512.jpg 768w\" data-sizes=\"(max-width: 1320px) 100vw, 1320px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1320px; --smush-placeholder-aspect-ratio: 1320\/880;\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"_1_Trumps_Appointments\"><\/span><span style=\"font-weight: 400;\">\u00a01. <\/span><span style=\"font-weight: 400;\">Trump\u2019s Appointments<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The news of United States President-elect Donald Trump picking Paul Atkins as the Chair of the Securities and Exchange Commission (SEC) in the Trump 2.0 administration has triggered optimism in the crypto market. Atkins has served as the co-chair of the Chamber of Digital Commerce\u2019s Token Alliance, and Trump stated that he \u201crecognizes that digital assets &amp; other innovations are crucial to Making America Greater than Ever Before.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recall that the current SEC Chair Gary Gensler, widely viewed as a crypto critic, has revealed his plan to step down on January 20, 2025, when Trump is inaugurated. His decision came after Trump vowed to sack Gensler on his first day in office.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trump has also nominated Cantor Fitzgerald CEO Howard Lutnick to head the Department of Commerce. It is expected that Lutnick, a vocal crypto advocate and co-chair of Trump\u2019s transition team, may be pivotal in setting policies for the crypto industry. The nomination also includes Scott Bessent as the Secretary of Treasury.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, reports of former Commodities Futures and Trading Commission (CFTC) Chair Chris Giancarlo in consideration as the first \u201cCrypto Czar\u201d to head crypto policies from the White House have also spurred more positivity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, there is a strong belief within the crypto industry that the appointment of a veteran such as Atkins, who is reputed for his crypto expertise and pro-innovation stance, could usher in a slew of positive reforms to help Trump\u2019s vision of setting a strategic Bitcoin reserve in the United States.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Bitcoin_ETFs_AUM\"><\/span><span style=\"font-weight: 400;\">2. Bitcoin ETFs AUM<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The launch of spot <a href=\"https:\/\/prestmit.io\/blog\/bitcoin-etfs-a-general-overview-of-exchange-traded-funds\">Bitcoin exchange-traded funds (ETFs)<\/a> in January 2024 by asset management firms such as BlackRock and Fidelity has played a part in this bullish run. These products have been a resounding success, securing assets under management (AUM) of about $100 billion in less than one year, making it easier than ever to buy Bitcoin or <a href=\"https:\/\/prestmit.io\/blog\/ethereum-101\">Ethereum<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, the start of op\u00a0on BlackRock\u2019s Bitcoin ETF saw $1.9 billion traded during its first day. Generally, the year has recorded over $31 billion in net inflows from the spot Bitcoin ETFs in the United States.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Corporate_Adoption\"><\/span><span style=\"font-weight: 400;\">3. Corporate Adoption<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The massive acquisition of Bitcoin by companies is also pivotal to the bull story of the asset. This was led by MicroStrategy (MSTR) and its Executive Chairman, Michael Saylor. The firm that began purchasing BTC in August 2020 has continued to raise billions of dollars to invest in the cryptocurrency. At the time of writing this article, the Bitcoin holdings of MicroStrategy are 386,700 BTC (worth $38 billion).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Saylor and his team have inspired other publicly traded companies, such as Japanese Metaplanet and U.S.-listed Semler Scientific, to adopt a similar strategy. Notably, tech giant Microsoft has a proposal before its board considering the adoption of a Bitcoin treasury strategy.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Bitcoin_Halving\"><\/span><span style=\"font-weight: 400;\">4. Bitcoin Halving<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The <a href=\"https:\/\/prestmit.io\/blog\/bitcoin-halving-how-it-works-and-its-relevance\">Bitcoin halving<\/a> 2024 that took place in April tightened supply and put much demand for BTC, increasing its price. This followed the basic principle of demand, &#8220;the higher the demand, the higher the price.&#8221; The event saw mining rewards halved from 6.25 BTC to 3.125 BTC, which also increased <a href=\"https:\/\/prestmit.io\/blog\/what-is-bitcoin-mining-how-does-it-work\">Bitcoin mining<\/a> difficulty.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Where_To_Sell_Bitcoin\"><\/span><span style=\"font-weight: 400;\">Where To Sell Bitcoin<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Following the rallying of Bitcoin to break the psychological barrier of the $100K mark, the market seems profitable for traders who want to sell their BTC. So, while there are different places to trade your assets, Prestmit provides a platform with a user-friendly interface and low trading fees to <\/span><a href=\"https:\/\/prestmit.io\/bitcoins\"><span style=\"font-weight: 400;\">sell Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> and make profits. Other features of our platform include a <\/span><a href=\"https:\/\/prestmit.io\/bitcoin-price-naira\"><span style=\"font-weight: 400;\">Bitcoin rate calculator<\/span><\/a><span style=\"font-weight: 400;\">, multiple payment options, and lightning-fast payment.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_To_Sell_Bitcoin_On_Prestmit\"><\/span><span style=\"font-weight: 400;\">How To Sell Bitcoin On Prestmit<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img decoding=\"async\" class=\"alignnone wp-image-10232 size-full lazyload\" data-src=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/09\/Blog-18-1.jpg\" alt=\"Bitcoin hit $100K\" width=\"2400\" height=\"1260\" data-srcset=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/09\/Blog-18-1.jpg 2400w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/09\/Blog-18-1-1024x538.jpg 1024w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/09\/Blog-18-1-150x79.jpg 150w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/09\/Blog-18-1-768x403.jpg 768w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/09\/Blog-18-1-1536x806.jpg 1536w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/09\/Blog-18-1-2048x1075.jpg 2048w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2023\/09\/Blog-18-1-1320x693.jpg 1320w\" data-sizes=\"(max-width: 2400px) 100vw, 2400px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 2400px; --smush-placeholder-aspect-ratio: 2400\/1260;\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Here are the quick steps to sell your BTC on Prestmit:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/prestmit.io\/\"><span style=\"font-weight: 400;\">Visit the official Prestmit website<\/span><\/a><span style=\"font-weight: 400;\"> or download the Prestmit app on the <\/span><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.prestmit\" target=\"_blank\"><span style=\"font-weight: 400;\">Google Play Store<\/span><\/a><span style=\"font-weight: 400;\"> or <\/span><a href=\"https:\/\/apps.apple.com\/ng\/app\/prestmit-gift-cards-coins\/id1581960714\" target=\"_blank\"><span style=\"font-weight: 400;\">Apple Store<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Create a Prestmit account and log in.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Click \u201c<strong>Crypto<\/strong>\u201d and choose \u201c<strong>Sell Bitcoin<\/strong>.\u201d<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Copy the Bitcoin wallet address or download the QR code.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Follow the prompts to sell your BTC.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">You will receive payment immediately after the transaction is confirmed.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs_About_Bitcoin_Hitting_100K\"><\/span><span style=\"font-weight: 400;\">Frequently Asked Questions (FAQs) About Bitcoin Hitting $100K<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Can_I_Sell_My_Bitcoin_Now\"><\/span><span style=\"font-weight: 400;\">Can I Sell My Bitcoin Now?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You may be making profits in selling your BTC now as the asset has recorded over 130% gains in 2024. As such, you will be making a significant profit margin if you sell your Bitcoin.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Will_Bitcoin_Reach_500000\"><\/span><span style=\"font-weight: 400;\">Will Bitcoin Reach $500,000?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Experts have predicted the price of Bitcoin rallying to $500,000 in years to come. For instance, Robert Kiyosaki, the author of Rich Dad Poor Dad, predicted Bitcoin to hit the $500K mark in 2025. Cardano founder Charles Hoskinson also projected the asset\u2019s price to surge to between $250K &#8211; $500K within the next 24 &#8211; 48 months.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Where_Can_I_Sell_My_Bitcoin_Now\"><\/span><span style=\"font-weight: 400;\">Where Can I Sell My Bitcoin Now?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Prestmit is the best place to sell your BTC as it provides you with every innovative feature to make your trading seamless, safe, and profitable. From low trading fees to a user-friendly interface, advanced security, multiple payment options, etc.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><span style=\"font-weight: 400;\">Conclusion<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">We can not overemphasize the smooth ride Bitcoin is enjoying, with increasing investors\u2019 interest that has soared its price to the moon. This is as traders\/investors continue to understand the potential of the asset. But as there is much buzz about Bitcoin&#8217;s meteoric rise, selling your BTC on a credible platform like Prestmit is essential to getting the deserving profits from your trade at low fees.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The flagship cryptocurrency, Bitcoin, has hit $100K after a dramatic bullish run that started in the post-United States presidential election. The coin, which first rallied above the $80K mark immediately after the declaration of former President Donald Trump as the election winner, had an impressive price trajectory. It flirted with $100K on November 22, when [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":13427,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1788],"tags":[12,2230],"class_list":["post-13426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-bitcoin","tag-bitcoin-at-100k"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin Hit $100K: What\u2019s Driving The Historic Price Surge? \u00a0 - Prestmit<\/title>\n<meta name=\"description\" content=\"Bitcoin has hit the much coveted $100K mark as it is buzzing in the market. 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