The significance of the $100,000 BTC is largely symbolic. This is small compared to the infinite price levels that follow it. While $100,000 is a milestone that deserves recognition, it is also simply a checkpoint on Bitcoin’s much longer and much larger journey ahead.
Let’s take a moment to remember the first moments of this journey. The year Kraken was founded (2011), Bitcoin’s closing price on December 31 was $4.25. From this level, the value of just one of the 21 million bitcoins that will ever exist now exceeds 2.3. million percent to $100,000 BTC.
BTC $100,000 has long been considered the next/seemingly “final” frontier for the price of Bitcoin. Laser eyes and incredible memes, along with innovative products and user experiences, have accelerated us to this point.
Over the years of speculation about “the world to come when Bitcoin hits $100,000”, a common sentiment was that the $100,000 price level would somehow confer legitimacy to a “system peer-to-peer electronic payment. This would show the value of a tamper-proof and immutable way of recording information. This would prove that decentralization has its place in modern society.
But now that we’re here, it seems like these goals still have a long way to go. We have the impression that this is still only the beginning. We’ve reached a major price milestone, but when it comes to realizing Satoshi’s original vision for Bitcoin – its widespread use as a global, borderless peer-to-peer electronic payment system – Bitcoin is still in its infancy.
In the short term, it is anyone’s guess whether the Bitcoin price will continue its upward sprint or retreat from its recent rise. What is clear is that the $100,000 milestone demonstrates continued demand for a reliable, transparent, peer-to-peer means of transaction.
$100,000 BTC represents a monumental milestone in Kraken’s mission to accelerate cryptocurrency adoption, so everyone can achieve financial freedom and inclusion. We would like to congratulate those who built this space alongside us and who played a role in making this happen.
We would also like to congratulate our customers as they celebrate this milestone moment, while committing to serving them throughout the next chapters of Bitcoin’s history.
Join us in reflecting on the journey that brought us here and commemorating this remarkable day – while reaffirming our commitment to a future of financial freedom.
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