Roundup: Six Figure Bitcoin
Brian Cubellis | Chief Strategy Officer
Dec 5, 2024
Six Figure Bitcoin
Last night, the price of bitcoin broke through the technical and psychological barrier of $100,000 USD. While the past few weeks of price action in the high 90s may have made the moment feel anticlimactic for some, the milestone is historically significant and worthy of reflection.
The ~16 year technological and monetary experiment that is bitcoin has monetized before our eyes from zero to over two trillion dollars in market cap. This is nothing short of a remarkable feat. Throughout the past 16 years, bitcoin has repeatedly been proclaimed to be “dead” yet it continues to achieve higher highs and higher lows. While volatile in the short-term, the long-term trajectory is upwards, as increasing demand confronts a static finite supply.
While many described the approval and subsequent launch of bitcoin ETFs as the asset’s “IPO moment,” its crossing of the $100k barrier is perhaps a more apt landmark to focus on. Bitcoin can no longer be ignored, and the curiosity of the crowd is shifting from “can this asset go to zero?” to “how high can it go?”
Recent comments from some of the most powerful individuals in the world reflect bitcoin’s renewed positioning in the financial zeitgeist:
- Jerome Powell: “It’s [bitcoin] really a competitor for gold.”
- Donald Trump: “Bitcoin is the new oil.”
- Vladimir Putin:


