Trump and Bukele Celebrate Bitcoin's $100,000 Milestone

President-elect Donald Trump and El Salvador's President Nayib Bukele recently expressed their excitement on social media after Bitcoin BTC/USD soared past the significant milestone of $100,000, hitting a peak of $103,679 on Thursday morning.

Currently, the cryptocurrency is trading at $102,200, marking an increase of 7.7% in the last 24 hours, according to CoinGecko data.

In addition to Bitcoin's success, Ethereum ETH/USD also gained traction, trading at $3,930, up by 6% after touching a high of $3,942 earlier in the day.

In his post on Truth Social, Trump congratulated Bitcoin supporters, stating, "CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU'RE WELCOME!!! Together, we will Make America Great Again!" His administration’s pro-crypto approach is seen as a major influence in the ongoing market surge.

Bukele, who made headlines in 2021 by making Bitcoin legal tender in El Salvador, showed immense pride in the achievement. According to a social media post, El Salvador's Bitcoin holdings now amount to $603.3 million, representing a 123.6% unrealized profit of $333.6 million. The government initially invested $269.74 million into Bitcoin.

The remarkable growth of Bukele's Bitcoin portfolio has garnered international admiration. Notably, Anthony Pompliano, a well-known Bitcoin advocate, commended Bukele's early belief and decisive action on the matter, tweeting, "Nayib – you not only believed early, but you had the courage to take action on behalf of your country. Congratulations! You will never get the credit you deserve, but you are an important part of the story."

Elon Musk responded to Bukele’s celebratory post with a brief but impactful "Impressive." While Bukele faced skepticism initially, as critics doubted the sustainability of the Bitcoin strategy, the cryptocurrency's current performance has proved the critics wrong, placing El Salvador at the forefront of cryptocurrency adoption.

Bitcoin's milestone has ignited discussions about its potential role in global finance. Despite Ethereum being 20% below its all-time high of $4,878, Bitcoin's recent rally reflects increasing confidence in the digital asset market and showcases the necessity for long-term institutional and government support, likely reshaping conventional financial structures.

Looking Ahead

This historic advancement not only boosts the cryptocurrency itself but also emphasizes the need for greater acceptance and utilization in traditional financial systems. As Bitcoin continues to break records, it may pave the way for broader discussions and initiatives surrounding digital currencies worldwide.

Bitcoin, Trump, Bukele