NEW YORK - Bitcoin catapulted above US$100,000 for the first time on Dec 5, a milestone hailed even by skeptics as a coming-of-age for cryptocurrencies as investors bet on a friendly Trump administration to cement crypto's place in financial markets.
It has more than doubled in value in 2024 and is up more than 50 percent in the four weeks since Donald Trump's sweeping victory in the US presidential election on Nov 5.
Once it broke US$100,000 in early Asian trading on Dec 5, it was soon above US$103,000 on its way to an all-time high of US$103,619, a surge of about 6 percent on the day. It was last fetching US$101,933.
"Bitcoin crossing US$100,000 is more than just a milestone; it's a testament to shifting tides in finance, technology and geopolitics," said Hong Kong-based independent crypto analyst Justin D'Anethan. "The figure not that long ago dismissed as fantasy, stands as a reality."
The total value of the cryptocurrency market has almost doubled over the year so far to hit a record just shy of US$3.8 trillion (S$5.1 trillion), according to data provider CoinGecko.
By comparison, Apple alone is worth about US$3.7 trillion.
Trump embraced digital assets during his campaign, promising to make the US the "crypto capital of the planet" and to accumulate a national stockpile of Bitcoin.
هذه القصة مأخوذة من طبعة December 06, 2024 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 06, 2024 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
OLD ART, NEW LOOK, MURAKAMI STYLE
Japanese art history is seen in a new and fun light at Gagosian's Grosvenor Hill art gallery in London.
Hit children's animation Bluey will be on the silver screen
Mickey Mouse and Bluey are expanding their business partnership. BBC Studios and The Walt Disney Company said on Dec 17 that they would collaborate on an animated movie starring Bluey, the Blue Heeler pup who has become a global sensation on children's television.
Hollywood star Tom Cruise awarded US Navy's highest civilian honour
Action movie star Tom Cruise is not only a naval pilot on-screen in the film series Top Gun (1986 to present), but he has also now been given the United States' Navy's highest civilian honour.
Thai film How To Make Millions Before Grandma Dies in the shortlist
Thai tear-jerker How To Make Millions Before Grandma Dies has made the shortlist in the Best International Feature Film category at the 97th Academy Awards, it was announced in Los Angeles on Dec 17.
Singer Elton John condemns legalisation of marijuana in the US and Canada
Iconic British musician Elton John spoke about his views on drugs, especially marijuana, in a recent interview.
Actress Nicole Kidman experienced 'burnout' shooting sex scenes for Babygirl
At an age when many start to slow down, 57-year-old Australian actress Nicole Kidman is enjoying one of her busiest years yet with three films and three television series in 2024 — and the raunchiest sex scenes of her career.
Squid Game creator still can't believe show's global success
As they tease the much-anticipated second season of Squid Game, the cast and creator of the hit South Korean survivalist drama are still trying to wrap their heads around its global success, which saw its debut season in 2021 become the most-watched series on Netflix.
Binge-worthy A sweet spy comedy on ageing
A MAN ON THE INSIDE Netflix ★★★★☆
The Return recasts Homer's Odyssey, mixed verdict for The Prosecutor
The story: Ralph Fiennes - who better? - portrays Greek king Odysseus of Ithaca.
Stunning visuals lift a timid prequel
The level of detail in Mufasa: The Lion King is astonishing
