A novelty Bitcoin token is shown in front of the price chart. Bitcoin’s price has gone over $100,000 in Hong Kong, China, on December 5, 2024.
Paul Yeung | Bloomberg | Getty Images
Bitcoin has finally passed $100,000. This came after a year when big Wall Street banks accepted it. Many people talked about Bitcoin during the U.S. presidential election.
Bitcoin fans have long wanted this price. They believed Bitcoin could reach $100,000. For many years, Wall Street did not agree. But now, Bitcoin has risen more than 140% in 2024.
Wall Street Accepts Bitcoin
This year starts a new phase for Bitcoin. Bitcoin ETFs began trading on January 11. These funds have brought in a lot of money. One fund, the iShares Bitcoin Trust, has $50 billion now.
Support in Politics
Bitcoin is also gaining attention in U.S. politics. The crypto lobby spent money during the 2024 elections. President-elect Donald Trump now supports Bitcoin.
He even spoke at the Bitcoin Conference in Nashville. Bitcoin’s price has risen 49% since November 4, just before the election.
