Bitcoin price reaches $100,000 for the first time

The price of one bitcoin surpassed $100,000 for the first time Wednesday, as demand for the digital currency soared following an election that witnessed victory for crypto-friendly candidates lead by President-elect Donald Trump.

Since November 5, the price of bitcoin has increased by more than 45%. Year to date, prices have more than doubled.

The six-figure level is the latest profitable milestone for a digital currency that arose 15 years ago from a brief white paper produced by an unknown individual. The concepts put out by the creator, known as Satoshi Nakamoto, have subsequently created an entire technological landscape dedicated to peer-to-peer transactions, which today includes hundreds of additional digital tokens, NFTs, and trading platforms.

However, cryptocurrencies have remained controversial: several of them, including bitcoin, have contributed to an increase in cybercrimes and frauds, which the FBI claims were responsible for billions of dollars in consumer losses last year.

Bitcoin’s price changes remain notoriously erratic, and experts believe this will continue regardless of who is in government.