In a historic moment 5,808 days after Satoshi Nakamoto mined Bitcoin’s first block, the price of a single BTC has soared past $100,000.
This milestone marks a remarkable journey for the world’s largest cryptocurrency, cementing its status as a leading asset in the global financial landscape.
Institutional investors have been actively buying Bitcoin above the $100,000 mark, aiming to build strategic reserves. Over the past two weeks, the network has seen the emergence of approximately 400 new Bitcoin whales, defined as holders with 100 to 10,000 BTC. This trend underscores the growing confidence in Bitcoin’s long-term value.
However, Bitcoin’s next price move depends on the delicate balance between short-term demand and long-term holder supply. While retail interest is climbing, profit-taking by long-term holders could dampen momentum unless sufficient spot demand emerges.
Adding to the intrigue, Mt. Gox recently transferred 24,052 BTC (valued at $2.43 billion) to a new wallet, identified as “1N7jW,” shortly after Bitcoin breached the $100,000 milestone.
Despite speculation, this wallet is likely an internal address. Currently, Mt. Gox still holds 15,826 BTC (approximately $1.63 billion) across 31 known wallet addresses.
Bitcoin spot ETFs are also experiencing significant activity, further fueling the market’s bullish sentiment. On December 4, spot ETFs saw a total net inflow of $557 million, marking the fifth consecutive day of positive net inflows. Notably, BlackRock’s ETF, IBIT, recorded a single-day net inflow of $572 million.
As Bitcoin continues to break barriers, its growing adoption by institutions and retail investors alike highlights its enduring appeal. This milestone signals not only Bitcoin’s resilience but also its increasing role as a store of value in a rapidly evolving financial ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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