On the morning of December 5, for the first time in history, the digital currency Bitcoin surpassed the threshold of 100,000 USD/BTC, thereby bringing the capitalization of this asset to over 2,000 billion USD.

At 11am on December 5, Bitcoin reached $103,600.

At this price, each Bitcoin is worth more than 2.6 billion VND. Meanwhile, 1kg of gold bars on the international market is only converted to about 2.24 billion VND, in the context of the international spot gold price being flat at 2,650 USD/ounce.

Thus, each kilogram of gold bars now cannot buy 1 Bitcoin.

Since the beginning of the year, Bitcoin has increased by more than 130%, with a total capitalization of more than 2,030 billion USD after only 15 years of existence. This figure is higher than most large corporations, only behind the total value of gold in the world, after technology giants Apple, Nvidia, Microsoft, Amazon and Alphabet.

Bitcoin's record price surge has sent the cryptocurrency market into a frenzy. Many celebrities have shown off their achievements, including El Salvador President Nayib Bukele, and Khoa Pug...

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Bitcoin surpassed the $100,000/BTC mark for the first time. Source: CMC

On the morning of December 5 (Vietnam time), President of El Salvador Nayib Bukele boasted on Twitter that his assets using national currency to invest in Bitcoin had exceeded 603 million USD, 2.2 times higher than the initial investment value of 269.7 million USD.

Previously, the president of El Salvador used money to buy Bitcoin at the bottom when the price was at $29,000/BTC, despite domestic public opinion. Since November 2022, Mr. Nayib Bukele has used the price averaging strategy, buying 1 BTC per day. Observers estimate that the digital assets of this South American country may be more than the amount in the wallet he publicly disclosed. According to the country's treasury page, El Salvador holds 5,748 BTC.

Commenting on Mr. Nayib Bukele's sharing, technology billionaire Elon Musk commented with just one word "impressive".

President Nayib Bukele has repeatedly taken to social media to refute critics of the country’s Bitcoin-driven economic reform strategy. In September 2021, El Salvador enacted a Bitcoin law, becoming the first country in the world to accept the cryptocurrency as a legal tender. The move has even worried the International Monetary Fund (IMF).

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El Salvador President Nayib Bukele bragged on social media on the morning of December 5 about the assets he used national currency to invest in Bitcoin. Screenshot

Bitcoin's Strong Rise Rivals Precious Metals

On December 4, in a live interview with the New York Times in New York at the DealBook Summit, US Federal Reserve Chairman Jerome Powell unexpectedly commented that Bitcoin is "like gold", but "it's a virtual asset, it's digital".

Mr. Powell assessed Bitcoin as not a competitor to the USD, but “really a competitor to gold.” The Fed chairman said that people use Bitcoin as a speculative asset, not as a form of payment.

Bitcoin prices surged and surpassed the $100,000 mark after US President-elect Donald Trump announced plans to nominate Paul Atkins to replace Gary Gensler as chairman of the US Securities and Exchange Commission (SEC). This was part of a promise Trump made during the election campaign.

Paul Atkins is a member of the Token Alliance, an organization that advocates for digital currencies. Sharing on the social network Truth Social, Mr. Trump said that Atkins also recognized that digital assets and other innovations are important to making America greater than ever.

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Mr. Powell said that Bitcoin is not a competitor to the USD but “is really a competitor to gold”. Photo: Kitco

And Mr. Gary Gensler is the head of the campaign to curb the cryptocurrency industry.

Since Trump won the election, Bitcoin has increased by nearly 50%. After the election, it was reported that President-elect Donald Trump's Trump Media and Technology Group (which operates the social network Truth Social) was in talks to buy the digital currency trading company Bakkt.

Mr. Donald also nominated billionaire "cryptocurrency enthusiast" Howard Lutnick as Secretary of Commerce.

Mr. Trump was skeptical about cryptocurrencies, but then “turned the wheel” and believed in this type of asset. At the end of June, Bitcoin also had a strong increase, soaring to the threshold of 70,000 USD after Mr. Trump's shocking speech at the Bitcoin 2024 conference. At that time, Mr. Trump affirmed that he would turn the US into the "center of cryptocurrency" in the world, a "Bitcoin powerhouse" and make Bitcoin a national strategic reserve asset.

Bitcoin has been booming since late 2023, in the context of Bitcoin being officially allowed by the US regulator to establish an ETF investment fund in cryptocurrencies. Accordingly, a large amount of legal money flows into this channel.

Cryptocurrency or "virtual money" is not legally recognized in Vietnam. The information is for reference only and does not constitute investment advice.

Gold prices skyrocketed, Bitcoin for the first time in history reached nearly 100,000 USD. Gold prices continued to soar and returned to an upward trend, the price of digital currency Bitcoin also for the first time in history reached nearly 100,000 USD due to the actions of US President-elect Donald Trump.