Bitcoin, the best-known and traded cryptocurrency on the market, relaxes this Tuesday to around US$107,300, after reaching yesterday afternoon new historical highs at US$107,791.
Last Monday – December 16 – bitcoin rose more than 4%, and towards the end of the day it set a new record at US$107,791, while this Tuesday the cryptocurrency tried to attack its historical high without success and after the opening of the markets in Spain it advances slightly, up to $107,275.
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On December 5, bitcoin surpassed US$100,000 for the first time in Its history and market capitalization already exceeds US$2.3 trillion. Since the electoral victory of Donald Trump in the United States, a defender of the use of this cryptocurrency, bitcoin began an upward path and gained almost 40%.
Manuel Pinto, market analyst, explains that the new rise in bitcoin responds to the fact that Donald Trump has confirmed his plans to create a strategic reserve of this cryptocurrency in the United States.
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Added to this is that last Friday it was confirmed that the company MicroStrategy, a software solutions company that has based part of its growth strategy on the acquisition of bitcoin, It will become part of the Nasdaq 100 index starting December 23.
How did it get there?
To understand what has happened to this digital asset, the first thing to say is that during the beginning of 2024, Bitcoin opened with a price close to US$42,000, amid global economic uncertainty and volatility in traditional financial markets. , which was cut off by the arrival of ETFs (Exchange Traded Funds).
This movement generated significant institutional capitalwhich increased the attractiveness of this option and caused investment funds such as BlackRock and Fidelity to boost confidence in this digital asset, positioning it as a solid alternative to traditional assets.
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After this, during the first quarter, what is today the queen of cryptocurrencies showed the growing institutional adoption of Bitcoin, raising its price to US$73,000, since the entry of new institutional investors consolidated interest in Bitcoin as an investment asset. refuge and diversification.
One of the great achievements for Bitcoin investors is that during this year it went from being perceived as an asset speculative to a legitimate financial tool with real value in the economic system.
Not everything was good for this currency, since between April and October it showed a period of consolidation, fluctuating between US$43,000 and US$63,000, which was reinforced by price stability that attracted retail investors and generated sustained demand at the level. global.
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At this point, expectations about the Federal Reserve’s monetary policies and economic uncertainty encouraged many to seek refuge in digital assets, further strengthening Bitcoin’s position as an alternative to the dollar and other assets.
Finally, the icing on the cake came with the victory of Donald Trump in the November elections, which generated renewed optimism in the markets and an additional boost for Bitcoin, which reached a new all-time high.
This political change also boosted institutional adoption, consolidating the narrative of Bitcoin as a global store of value, which helped it stop being seen as a risky bet and lead its price above US$100,000, as has happened in recent weeks.
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