Bitcoin Hits $100K: A Landmark Moment In Its Financial Evolution

Bitcoin has reached the monumental $100,000 milestone, cementing its position as a transformative force in global finance. Since the creation of its Genesis Block, Bitcoin has facilitated an astonishing $131 trillion in transfer volume and successfully processed over 1.12 billion transactions. #Bitcoin crossing $100K is a monumental milestone in its evolution into a global financial force. This week’s edition of Glassnode’s Week On-Chain newsletter tells the fascinating story of this journey through the lens of #onchain data: https://t.co/gxqUraZizs pic.twitter.com/2HHO3EAMT8 — glassnode (@glassnode) December 12, 2024 The rewards for securing the network reflect its robust growth. As of December 5, Bitcoin miners have collectively earned $71.49 billion, with $67.31 billion from block subsidies and $4.18 billion from transaction fees. These figures highlight the critical role of miners in maintaining the integrity and efficiency of the network. Amid Bitcoin’s climb past $100,000, a whale has added 201.78 BTC, valued at $20.33 million, to its holdings. This accumulation brings the whale’s total purchases to 1,502 BTC, worth $152 million, since November 24. Such significant buying activity underscores growing confidence among large investors in Bitcoin’s long-term potential. After #Bitcoin reclaimed $100,000, a whale accumulated another 201.78 $BTC ($20.33M). The whale has accumulated 1,502 $BTC ($152M) since Nov 24. https://t.co/Ihi2UaKgpP pic.twitter.com/i8foF1Y4G0 — Lookonchain (@lookonchain) December 12, 2024 Bitcoin Spot ETFs Sees Massive Surge In Demand Additionally, Bitcoin spot ETFs are witnessing a surge in demand. On December 11 alone, the total net inflow into Bitcoin spot ETFs reached $223 million, marking ten consecutive days of positive inflows. Fidelity’s FBTC ETF led the charge with a record $122 million in a single day. This influx reflects heightened institutional interest and positions Bitcoin ETFs as a key driver of market liquidity. On December 11, the total net inflow of Bitcoin spot ETFs was $223 million, and the net inflow continued for 10 consecutive days. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was Fidelity ETF FBTC, with a net inflow of $122 million in a single day.… pic.twitter.com/8e8Pap25cj — Wu Blockchain (@WuBlockchain) December 12, 2024 Bitcoin’s historic $100,000 milestone signals its growing adoption as a global financial asset. As institutional investments surge and whales accumulate, Bitcoin continues to redefine the financial landscape, offering unparalleled opportunities for growth and innovation. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: alekskhmelev/ 123RF // Image Effects by Colorcinch

Source: NullTx