Trump and Bukele Celebrate Bitcoin's Historic Milestone

President-elect Donald Trump and El Salvador's President Nayib Bukele have turned to social media in celebration as Bitcoin (BTC/USD) crossed the significant $100,000 threshold, hitting a peak of $103,679 on Thursday morning.

The digital currency is currently trading at $102,200, reflecting a 7.7% increase in the past 24 hours, according to data from CoinGecko.

Another cryptocurrency, Ethereum (ETH/USD), also experienced an upward trend, trading at $3,930 and marking a 6% rise after reaching a high of $3,942 earlier that day.

In a post on Truth Social, Trump expressed his excitement over Bitcoin's achievement, stating, "CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU'RE WELCOME!!! Together, we will Make America Great Again!"

Analysts suggest that Trump's administration's favorable view of cryptocurrencies has been a major factor in powering the current market surge.

President Bukele, who made headlines by adopting Bitcoin as legal tender in El Salvador back in 2021, showcased his pride at this milestone. An image shared on social media revealed that El Salvador's Bitcoin holdings now amount to $603.3 million, indicating an unrealized profit of $333.6 million or 123.6% over the original investment.

Also Read: Trump Nominates Paul Atkins As SEC Chair, Emphasizing Digital Assets As Key To ‘Making America Greater’

The government of El Salvador had initially invested around $269.74 million in Bitcoin.

This remarkable growth of the portfolio has drawn admiration from around the world.

Anthony Pompliano, a well-known Bitcoin supporter, commended Bukele's decisive actions, 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."

Another notable mention includes Elon Musk, who responded to Bukele's announcement with a succinct "Impressive."

Initially, Bukele's investment in Bitcoin faced skepticism, with many critics doubting the sustainability of his choice.

However, given Bitcoin's current value, the strategy has generated substantial profits and positioned El Salvador as a frontrunner in the world of cryptocurrency adoption.

Bitcoin's ascent to a new all-time high has reignited discussions about its influence on global finance.

Despite Ethereum remaining about 20% below its all-time high of $4,878, Bitcoin's rally exemplifies an increasing confidence in the digital assets market.

This remarkable milestone highlights the critical role of long-term institutional and governmental endorsement, which experts believe could further transform traditional financial frameworks.

Read Next:

• NYC Mayor Eric Adams Takes Victory Lap: ‘Remember Y’All Laughed When I First Got My Bitcoin? Who’s Laughing Now?’

Photo: Wikimedia Commons

Market News and Data attributed to various sources.

Trump, Bukele, Bitcoin