President-elect Donald Trump and El Salvador's President Nayib Bukele took to social media to react to Bitcoin BTC/USD surging past the historic $100,000 mark, reaching a high of $103,679 on Thursday morning.
The cryptocurrency is currently trading at $102,200, up 7.7% over the last 24 hours, according to CoinGecko data.
Ethereum ETH/USD also saw gains, trading at $3,930, up 6% after peaking at $3,942 earlier today.
Trump lauded the milestone in a post on Truth Social, stating, “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU'RE WELCOME!!! Together, we will Make America Great Again!”
His administration’s perceived pro-crypto stance has been a key driver of the current market rally, analysts suggest.
Bukele, who made headlines by adopting Bitcoin as legal tender in El Salvador in 2021, responded to the milestone with evident pride.
El Salvador's Bitcoin portfolio, as revealed in an image posted on social media, now boasts a total balance of $603.3 million, reflecting a 123.6% unrealized profit of $333.6 million.
The government initially invested $269.74 million into Bitcoin.
The portfolio’s meteoric growth has sparked admiration globally.
Anthony Pompliano, a prominent Bitcoin advocate, praised Bukele's bold decisions, 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.”
Elon Musk responded to Bukele’s tweet with a simple “Impressive.”
Bukele’s gamble on Bitcoin initially faced skepticism, as critics questioned the sustainability of his move.
However, with Bitcoin's current valuation, the strategy has brought significant financial gains and positioned El Salvador as a pioneer in cryptocurrency adoption.
Bitcoin's new all time high has reignited debates about its role in global finance.
While Ethereum remains 20% below its all-time high of $4,878, Bitcoin's rally signals growing confidence in the digital asset market.
The milestone also signifies the importance of long-term institutional and governmental adoption, which experts believe could further reshape traditional financial systems.
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Photo: WIkimedia Commons
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