Traders Are Partying As Bitcoin (BTC) Hits $100K Milestone

• Bitcoin breaks $100,000, hitting a historic high of $103,900, marking a major milestone.
• Peter Schiff critiques Bitcoin’s rise, linking its success to political influence.
• Mt. Gox transfers $2.8B in Bitcoin and retains 39,878 BTC in holdings at press time.

The cryptocurrency market erupted in celebration as Bitcoin achieved a new milestone, surging past $100,000 for the first time in its 15-year history. Bitcoin reached a high of $103,900.47, marking an ascent from its 24-hour low of $94,660.52. This historic achievement shows a remarkable journey from Bitcoin’s early days, when breaking $100 in 2013 was considered a major milestone. 

The price appreciation over the past decade has changed Bitcoin from a niche digital experiment into a mainstream financial asset, attracting the attention of institutional investors and governments alike. The $100,000 BTC moment carried particular importance for crypto critics, notably Peter Schiff, who predicted in 2019 that “Bitcoin will never hit 50k.” 

Schiff’s response to the $100,000 milestone reflected a shift in criticism. He suggested that Bitcoin’s success was achieved through political influence rather than free market forces: “It’s ironic that Bitcoin only hit $100k by buying off politicians and getting in bed with government.”

Adding to the day’s drama, the defunct cryptocurrency exchange Mt. Gox moved its Bitcoin holdings as prices crossed into six figures. According to Arkham Intelligence, an address labeled as Mt. Gox (1FHOD) transferred 27,871 BTC, valued at approximately $2.8 billion, to an unidentified address. The timing of this transfer, coinciding with the $100,000 milestone, sparked intense speculation in the crypto community. Mt. Gox still retains 39,878 BTC in its holdings.

The market’s enthusiasm was somewhat affected by major liquidations, with approximately $137 million wiped from the crypto market within an hour of Bitcoin breaching $100,000. The milestone comes amid increasing institutional adoption and regulatory clarity, particularly in the United States.

The post Traders Are Partying As Bitcoin (BTC) Hits $100K Milestone appeared first on CryptoTale.