Bitcoin, the world’s biggest cryptocurrency by market cap, on Thursday, surged to $97,000 – making it just $3,000 away from reaching a record $100,000 in price.
The leading cryptocurrency gained 4.77 percent over the past 24 hours and settled at $97,532, according to CoinMarketCap, a price-tracking website for crypto assets.
TheCable observed that Bitcoin crossed $97,000 at 6:00 am (GMT+1) on Thursday.
CoinMarketCap data showed that the cryptocurrency market capitalisation also increased to $3.32 trillion – gaining $259.5 billion within 24 hours.
A breakdown of the market cap showed Bitcoin dominating at 58.1 percent.
On the other hand, Ethereum, trading at $3,131 (the second largest cryptocurrency), owns 11.3 percent of the market– leaving other coins with the remaining 30.6 percent.
The rise of Bitcoin price started on November 6 when Donald Trump, a Republican Party candidate, won the US presidential election. The digital asset reached $75,000 on that day.
On November 10, the cryptocurrency crossed $80,000 and reached $89,000 two days after.
On November 13, the digital currency surged past $92,000 and has remained high since then.
In May 2024, the Trump campaign announced that supporters can make donations in crypto, including bitcoin, ether, and dogecoin — indicating crypto will be a key issue during the election.
In October, the US president began promoting World Liberty Financial, a crypto venture set up by his longtime business partners and others, according to Financial Times.
World Liberty began selling its token to qualified investors to raise $300 million.