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The Fin
Bitcoin has broken through US$100,000. Now what?
Dec 11, 2024
James Eyers, a Senior reporter at The Australian Financial Review, discusses Bitcoin's recent milestone of surpassing US$100,000. He explores the intriguing relationship between Donald Trump and the crypto world, emphasizing the evolving regulatory landscape. Eyers highlights Bitcoin's significant rise and the factors behind its surge, including the impact of institutional interest and retail access. He also delves into the risks associated with this volatile market and the transformative shift in financial systems as cryptocurrencies gain traction.
28:33
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Quick takeaways
- Donald Trump's election has significantly boosted Bitcoin's value and investor enthusiasm, reflecting a political shift towards cryptocurrency acceptance in the U.S.
- Australia's growing interest in cryptocurrency, highlighted by increasing ownership and regulatory advancements, underscores its emerging importance in the financial landscape.
Deep dives
Bitcoin Surpasses Milestones
Bitcoin recently surged to a historic price of over $100,000, marking a significant milestone for the cryptocurrency that was once considered an experiment. The asset has increased nearly 130% in value over the past year, with many early investors now reaping substantial profits. For instance, an initial investment of $100 in Bitcoin back in 2012 would be worth approximately $1.5 million today, showcasing the dramatic rise in value compared to traditional savings. The cryptocurrency's appeal has grown as it has emerged from past controversies, including the collapse of crypto exchange FTX, allowing new regulations to reshape investor access and trust in the market.
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