December 5, 2024
2 mins read

Bitcoin Hits $100K, Eyes $120K 

BITCOIN.

Discussions around a US Strategic Bitcoin Reserve and corporate treasury integration signal a shift toward mainstream adoption. …reports Asian Lite News

World’s largest cryptocurrency Bitcoin has crossed the historic milestone of $100,000 apiece, driven by favourable market dynamics, growing US regulatory clarity, and institutional adoption through Bitcoin ETFs, industry experts said on Thursday.  

Bitcoin was trading at $1,03,095, after gaining 4.39 per cent. According to Vishal Sacheendran, Head of Regional Markets at Binance, the cryptocurrency market is experiencing a surge in optimism as governments and institutions worldwide begin to embrace blockchain technology, paving the way for broader adoption and investment in digital assets. 

“This renewed enthusiasm reflects a maturing ecosystem poised for sustained growth,” he added. 

Discussions around a US Strategic Bitcoin Reserve and corporate treasury integration signal a shift toward mainstream adoption. 

“The coming year promises enhanced regulatory frameworks, greater transparency, and innovations in DeFi, tokenized assets, and blockchain interoperability, paving the way for a more inclusive global economy,” said Sacheendran. 

Rahul Pagidipati, CEO, ZebPay, said that Bitcoin is now effectively one of the top 10 most valued assets in the world, ranking above all commodities except gold and higher than most companies. 

“The crypto market’s total capitalisation has also crossed the $3.5 trillion mark, demonstrating the scale of interest and widespread adoption in the space,” he said. 

Nigel Green of deVere Group predicted over a month ago that Bitcoin would hit $100,000 following Donald Trump’s re-election and his upcoming inauguration as the 47th President of the United States. 

“I believe Bitcoin could reach $120,000 in the first quarter of 2025 as the rally gains further traction,” he predicted. 

“The growing narrative of Bitcoin as digital gold is becoming impossible to ignore. It’s increasingly viewed as a hedge against inflation and a tool for portfolio diversification. Institutional interest is at an all-time high, and the infrastructure to support mass adoption continues to expand,” said Green. 

Bitcoin’s recent rally can be attributed to a combination of factors. First, the political alignment of a pro-crypto administration is invigorating market confidence. Second, the ongoing economic environment, characterised by likely inflationary pressures, has driven institutional and retail investors toward alternative assets. 

ALSO READ: India Charts Steady Growth Path 

Previous Story

‘Modi’s Oversight Drives India’s Growth’ 

Next Story

India’s Housing Market Set to Soar 

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop

Don't Miss

‘17th Lok Sabha passed 222 bills in five years’ 

The overall productivity of the 17th Lok Sabha has been

‘Digital banking push turned into pull factor’

On FinTech evolution, former chairman said that the sector has