Trump and Bukele Celebrate Bitcoin Reaching $100,000

President-elect Donald Trump and El Salvador's President Nayib Bukele took to social media to express their excitement as Bitcoin (BTC/USD) surged past the significant milestone of $100,000, reaching a peak of $103,679 on Thursday morning.

The current trading price of Bitcoin stands at $102,200, reflecting a 7.7% increase over the past 24 hours, as per data from CoinGecko.

In addition, Ethereum (ETH/USD) also experienced growth, trading at $3,930, which is up 6% after hitting a high of $3,942 earlier in the day.

In a post on Truth Social, Trump praised the achievement, saying, "CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU'RE WELCOME!!! Together, we will Make America Great Again!"

Analysts believe that Trump's administration's pro-crypto stance has played a significant role in fueling the current market rally.

Meanwhile, Bukele, who is known for making waves when he adopted Bitcoin as legal tender in El Salvador in 2021, showed pride in the moment. An image shared on social media revealed that El Salvador's Bitcoin portfolio now totals $603.3 million, showing an unrealized profit of $333.6 million, which is a remarkable 123.6% increase.

The initial investment by the government was $269.74 million in Bitcoin.

This impressive growth in El Salvador's Bitcoin portfolio has garnered global admiration.

Noteworthy Bitcoin advocate Anthony Pompliano acknowledged Bukele's bold actions by tweeting, "Nayib – you not only believed early, but you had the courage to take action on behalf of your country. Congratulations. You will never get the credit you deserve, but you are an important part of the story."

Entrepreneur Elon Musk also chimed in on Bukele's success with a simple response: "Impressive."

Bukele's decision to invest in Bitcoin was met with skepticism when it was first announced, with critics doubting the sustainability of such a strategy.

However, with the current valuation of Bitcoin, this decision has led to significant financial gains and put El Salvador in the spotlight as a leader in the world of cryptocurrency adoption.

Bitcoin's latest all-time high has reignited conversations about its influence in global finance. Despite Ethereum still being around 20% short of its all-time high of $4,878, Bitcoin's price surge demonstrates a growing confidence in the digital asset market.

This milestone not only emphasizes the importance of long-term institutional and governmental support but also suggests that traditional financial systems may undergo further transformation as a result.

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Photo: Wikimedia Commons

Trump, Bitcoin, Bukele