In May 2010, a user known only as Laszlo posted on a Bitcoin forum offering 10,000 BTC—then worth just $30—for two large pizzas. Four days later, on May 22, he confirmed the deal was done. He had eaten what is now famously known as the most expensive pizza in history—worth approximately $1 billion today.
Laszlo Hanyecz, a programmer from Florida, was among the earliest adopters of Bitcoin. He began mining shortly after its inception and even developed software to mine Bitcoin using graphics cards. Mining was relatively easy in those early days, and Laszlo quickly accumulated tens of thousands of BTC.
He didn’t regret his decision. In fact, he recalled it fondly—a time when he could use spare GPU power to get free food. Over time, Laszlo spent around 100,000 Bitcoins on small purchases. Today, that amount would be worth an astonishing $10 billion.
This anecdote captures the essence of Bitcoin’s meteoric rise. From a price of just $0.003 in 2010, Bitcoin has surged past $100,000—marking a gain of over 30 million times in just 14 years. As it breaks into new territory, the question on everyone’s mind is: where does Bitcoin go from here?
A Historic Breakthrough
Bitcoin’s climb to six figures represents more than just a price milestone—it signals growing legitimacy in the global financial system.
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According to Zhao Wei, Senior Researcher at OKX研究院 (OKX Research Institute), “Bitcoin’s breakthrough of $100,000 is a historic moment that reaffirms its position as a leading digital asset. It reflects heightened institutional interest and marks a pivotal point for the entire crypto industry.”
Two major developments on December 4 fueled the rally. First, President-elect Donald Trump nominated Paul Atkins—a conservative lawyer with pro-crypto views—to lead the U.S. Securities and Exchange Commission (SEC). Known for supporting technological innovation and favoring lighter regulation, Atkins’ potential appointment sparked optimism about a more favorable regulatory climate.
Second, Russian President Vladimir Putin publicly endorsed cryptocurrency, suggesting its use as an alternative reserve asset. While geopolitical implications remain complex, the symbolic support from global leaders added momentum to market sentiment.
Wang Peng, Associate Researcher at the Beijing Academy of Social Sciences, noted that “Bitcoin surpassing $100,000 is not just a number—it reflects increasing global acceptance and confidence in decentralized digital assets.” He believes this milestone will attract more institutional capital and strengthen investor trust.
Liu Bin, Director of the Financial Research Office at the China (Shanghai) Pilot Free Trade Zone Research Institute, sees this moment as the beginning of a new phase for cryptocurrencies. Several factors are converging:
- Maturing regulation: The U.S. has made significant progress in establishing clear regulatory frameworks, setting international benchmarks.
- Global coordination: Institutions like the Bank for International Settlements (BIS) and Financial Stability Board (FSB) are building consensus on cross-border crypto supervision.
- Institutional integration: Major financial players now offer compliant crypto products, bridging traditional finance with blockchain innovation.
- Tokenized finance: BIS’s vision of a “financial internet” built on blockchain has gained traction, enabling seamless movement of tokenized assets.
- Political tailwinds: Trump’s pro-crypto stance may lead to supportive policies, acting as a catalyst for further adoption.
The approval of Bitcoin spot ETFs earlier this year marked a turning point—moving Bitcoin from niche speculation to mainstream investment. These exchange-traded funds provide regulated exposure, lowering entry barriers and enhancing market liquidity.
The Rise of the "Trump Trade"
Year-to-date, Bitcoin has gained over 100%. Since Trump’s election victory, it has climbed more than 40%. Market participants now refer to this phenomenon as the “Trump trade”—a direct link between political sentiment and crypto performance.
In November alone, spot trading volume in the crypto market reached $2.7 trillion—the highest since May 2021 and more than double October’s $1.14 trillion. Futures trading surged as well: Bitcoin futures hit $2.59 trillion in volume, while Ethereum futures reached $1.28 trillion.
The shift began when SEC Chair Gary Gensler—long seen as a crypto skeptic—announced his intention to step down on January 20, 2025, coinciding with Trump’s inauguration. During his tenure, Gensler led aggressive enforcement actions against major platforms like Coinbase, Kraken, and Binance over registration violations.
Trump’s nomination of Atkins intensified market euphoria. Unlike Gensler, Atkins has questioned the SEC’s hardline approach and could usher in a more innovation-friendly era.
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There are even discussions within Trump’s team about creating a dedicated White House position for digital asset policy—the first of its kind. This level of institutional recognition underscores how far crypto has come.
Livio Weng, COO and CEO of HashKey Exchange, believes Trump’s endorsement could sway older financial decision-makers who’ve been skeptical of crypto. “His support may prompt traditional investors to reevaluate Bitcoin not as speculative tech, but as a legitimate store of value.”
Wang Peng agrees that Trump’s policy signals—such as backing crypto-friendly regulators and proposing dedicated policy roles—are accelerating market momentum.
But can the “Trump trade” last?
Liu Bin suggests it may persist for some time. “Bitcoin is in an upward cycle, but volatility is inevitable. We must watch whether Trump’s policies align with market expectations.” True acceptance requires enduring multiple economic cycles and earning sustained trust from institutions.
Wang Peng adds that longevity depends on policy execution, global economic conditions, and broader market trends. “If pro-crypto policies are implemented effectively, the rally could extend. But all policy-driven momentum faces limits and uncertainty.”
Risks and Realities
Despite record highs, caution remains essential.
Zhao Wei warns that Bitcoin’s high volatility hasn’t disappeared. Short-term risks include profit-taking after rapid gains and uncertainty around policy implementation. “Geopolitical shifts, macroeconomic changes, and regulatory surprises can all trigger corrections.”
Yet long-term fundamentals are strengthening. Bitcoin is increasingly viewed as both a digital gold and a borderless payment network. Institutional inflows continue through ETFs and custody solutions. Technological upgrades improve scalability and security.
Moreover, global adoption is expanding—not just in finance but in remittances, cross-border trade, and financial inclusion.
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Frequently Asked Questions (FAQ)
Q: How did Bitcoin rise from $0.003 to $100,000?
A: Early scarcity, growing demand, halving cycles, institutional adoption via ETFs, and favorable regulatory speculation contributed to its exponential growth.
Q: Is Bitcoin safe to invest in now?
A: While Bitcoin has proven resilient over time, it remains highly volatile. Investors should conduct thorough research and consider risk tolerance before investing.
Q: What is the "Trump trade" in crypto?
A: It refers to the market rally following Trump’s pro-crypto statements and appointments, reflecting investor optimism about lighter regulation under his administration.
Q: Could Bitcoin replace traditional money?
A: Not fully yet—but it’s increasingly used as a store of value and for cross-border transactions. Widespread daily use depends on scalability and regulatory clarity.
Q: Will Bitcoin keep rising after hitting $100K?
A: Many analysts believe so due to limited supply and rising adoption, but short-term corrections are likely amid macroeconomic or policy shifts.
Q: How does ETF approval affect Bitcoin?
A: Spot ETFs allow mainstream investors to gain exposure through regulated channels, increasing liquidity and reducing barriers to entry.
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