Bitcoin just passed US$100,000. This time, other cryptocurrencies are also riding the wave.
Bitcoin busting through the milestone number is instructive for its future. But it may mean more for other cryptocurrencies as retail investors surge back into the market.
In the lore of cryptocurrency, there are few parables quite like that of Laszlo Hanyecz. In 2010, he became the first person to make a purchase with Bitcoin, buying two large pizzas in exchange for 10,000 tokens.
On Thursday afternoon, Bitcoin surpassed USD100,000 ($155,000) for the first time, making the value of Hanyecz' transaction over USD1 billion at current value.
The milestone has, if nothing else, proved an eclectic cast of characters right. Among those who staked their reputation on Bitcoin's success are the co-founder of MicroStrategy, the mayor of New York and the president of El Salvador.
The crypto crash of 2022 made them, and punters like them, the butt of many a joke. Now, a combination of Bitcoin and Ether ETFs launching, allowing institutional money to flow into those cryptocurrencies, and Donald Trump's pledges to boost the industry has pushed Bitcoin up 133% since the start of the year.
