In accordance with Benzinga, Bitcoin reached a historic milestone in 2024, surpassing $100,000, driven by several key factors. The election of Donald Trump, who campaigned as a pro-cryptocurrency candidate, significantly boosted Bitcoin's value, with the cryptocurrency surging 41% post-election. Trump's plans for a national Bitcoin reserve and the appointment of David Sacks as 'White House A.I. & Crypto Czar' further fueled optimism. The introduction of U.S. Bitcoin exchange-traded funds (ETFs) in early 2024 also played a crucial role, attracting nearly $36 billion in net inflows. BlackRock's iShares Bitcoin Trust ETF emerged as a leader, holding over $52 billion in assets. Additionally, the Federal Reserve's interest rate cuts and Bitcoin's halving event in April, which reduced mining rewards, contributed to the bullish momentum. These developments collectively underscored Bitcoin's strong performance throughout the year.
Bitcoin Surpasses $100,000 in 2024 Amid Trump Win and Spot ETFs Debut
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