In the early hours of December 5, 2025 (U.S. time, December 4), bitcoin surged past $100,000 for the first time against the U.S. dollar, reaching an intraday high of over $103,440. As of mid-afternoon on the 5th, it was trading around $101,900 — a historic milestone that underscores the growing momentum behind digital assets.
This surge followed the announcement that Paul Atkins, a former U.S. Securities and Exchange Commission (SEC) commissioner during the George W. Bush administration, had been nominated to lead the regulatory body once again. With decades of experience in securities law and bipartisan regulatory work, Atkins is known for his balanced approach — and notably, a more open stance toward cryptocurrency compared to previous SEC chairs.
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Bitcoin’s 2025 Surge: From ETFs to Political Endorsements
Bitcoin's rise this year has been nothing short of extraordinary, with gains exceeding 130% year-to-date — far outpacing traditional assets like the S&P 500. The rally began gaining serious traction after Donald Trump’s victory in the U.S. presidential election.
On November 6, bitcoin jumped by $6,000 in a single day, breaking the $74,000 mark. Just one week later, it crossed $90,000. This acceleration wasn’t driven by retail speculation alone — institutional adoption and policy signals played pivotal roles.
The ETF Catalyst
Earlier in 2025, after years of legal and regulatory battles, spot bitcoin exchange-traded funds (ETFs) were officially approved and launched in the United States. Giants like BlackRock, Fidelity, and native crypto firm Grayscale Investments led the charge. These ETFs now hold approximately $100 billion in assets, representing about 5% of bitcoin’s circulating supply.
According to data from K33 Research, BlackRock’s iShares Bitcoin Trust alone had accumulated 500,380 BTC by December 3 — equivalent to 2.38% of the total 21 million bitcoin cap. This level of institutional ownership signals a fundamental shift: bitcoin is no longer just a speculative asset but a legitimate component of diversified portfolios.
Meanwhile, MicroStrategy, already the largest corporate holder of bitcoin, added 15,400 more BTC between November 25 and December 1 at an average price of $95,976 per coin — a $1.5 billion investment that reaffirmed its long-term confidence in the asset.
The "Trump Effect" on Crypto Markets
While ETFs laid the foundation, political momentum accelerated the rally.
Former President Donald Trump, once skeptical of cryptocurrencies — famously calling them “built on thin air” — underwent a dramatic shift in tone months before his re-election campaign gained full steam. Seeking support from younger, tech-savvy voters, he embraced digital assets with surprising enthusiasm.
At a major crypto conference in July 2024, Trump proposed creating a strategic national bitcoin reserve, positioning the U.S. as a leader in blockchain innovation. He declared:
“If we’re going to define the future with crypto, I want it mined, minted, and made in America.”
By September, Trump launched his own venture — World Liberty Financial, a crypto-focused platform — and made headlines when he used bitcoin to buy a burger at a Manhattan bar popular with crypto enthusiasts. “History is being made,” he proclaimed.
His campaign also accepted cryptocurrency donations starting in May 2024, raising millions in digital assets. Reports suggest his media company, Truth Social, is in talks to acquire Bakkt — a regulated platform for trading digital assets — further integrating crypto into his ecosystem.
Analysts believe these developments reflect a broader trend: cryptocurrencies are becoming politically viable and financially strategic.
Mainstream Acceptance: From Fringe to Financial Infrastructure
Bitcoin has always carried a reputation for volatility and risk.
- In 2011: +1,317%
- In 2013: +5,428%
- In 2017: +1,375%
- In 2022: –64%
- In 2023: +157%
From fractions of a cent in 2010 to six figures today, its journey has required investors to overcome immense fear, uncertainty, and doubt — what traders call FUD.
For years, crypto was associated with illicit activity: ransomware, money laundering, darknet markets. But as Bloomberg noted, the asset class is emerging from its most turbulent chapter. Regulatory clarity, institutional custody solutions, and macroeconomic tailwinds have elevated bitcoin’s status.
At the 2024 Consensus Conference, allies of Trump — including Robert F. Kennedy Jr. and Senator Cynthia Lummis — floated the idea of the U.S. government purchasing one million bitcoins to back a national digital reserve.
Even if such proposals don’t pass immediately, their mere discussion marks a turning point. As Andrew O’Neil, Chief Digital Asset Analyst at S&P Global, stated on December 4:
“The narrative around bitcoin as a non-traditional financial asset has fundamentally shifted.”
With a current market capitalization nearing $2 trillion, bitcoin now exceeds the market values of major tech giants like NVIDIA (NVDA.US) and Apple (AAPL.US). It even surpasses the sovereign bond markets of large economies like Spain and Brazil.
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Will Bitcoin Keep Rising?
Experts remain optimistic about bitcoin’s long-term trajectory despite short-term volatility.
Zhao Qixin, founder of YingTian Wealth, told media that while price swings are inevitable due to multiple macro and sentiment-driven factors, the upside potential remains strong.
Anthony Pompliano, founder and CEO of Morgan Creek Digital — a vocal bitcoin advocate — posted on X (formerly Twitter) on December 4:
“If you like bitcoin at $100K, you’ll love it at $1M.”
Fadi Aboualfa, Head of Research at Copper.co (a leading crypto custodian), said reaching $100,000 signals entry into a new phase of the bull market.
“Bitcoin has proven resilient. Now, only an external shock could derail its momentum.”
Manuel Velages, Digital Asset Analyst at Julius Baer, emphasized fundamentals:
“Demand is solid. We’re heading toward a supply-constrained environment where demand grows exponentially. When that happens, prices have only one direction to go.”
Frequently Asked Questions (FAQ)
Q: What caused bitcoin to hit $100,000?
A: A combination of institutional adoption via ETFs, political support (notably from Trump), and speculation around favorable SEC leadership changes fueled investor confidence and buying pressure.
Q: Is bitcoin safer now than in previous years?
A: Yes. Improved regulation, secure custody solutions, and integration into traditional finance have reduced many risks. However, volatility remains high — it's still not a low-risk investment.
Q: How much bitcoin do institutions own?
A: Spot ETFs collectively hold about $100 billion worth of BTC (~5% of circulation). BlackRock alone owns over 500,000 BTC. MicroStrategy holds more than 226,331 BTC as of late 2025.
Q: Could the U.S. government really buy bitcoin?
A: While not yet policy, prominent figures like Senator Lummis and Trump allies have proposed establishing a national strategic bitcoin reserve — an idea gaining traction in political discourse.
Q: What drives long-term value in bitcoin?
A: Scarcity (capped at 21 million), increasing adoption as both store-of-value and digital gold, halving events that reduce new supply every four years, and growing global macro uncertainty pushing investors toward alternatives.
Q: Should I invest in bitcoin now?
A: That depends on your risk tolerance and investment goals. Many experts recommend allocating only a small portion of a diversified portfolio to crypto due to volatility.
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Conclusion
Bitcoin’s climb past $100,000 is more than just a price point — it’s a symbolic threshold representing maturation, acceptance, and transformative potential within global finance.
Driven by regulatory evolution, institutional demand, and shifting political winds, bitcoin has transitioned from internet curiosity to systemically significant asset. Whether it reaches $1 million or faces corrections along the way, one thing is clear: digital assets are here to stay.
As walls of skepticism crumble and adoption accelerates across financial and governmental spheres, staying informed is crucial for any modern investor.
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