Let’s take a moment to remember the early moments of this journey. The year Kraken was founded (2011), Bitcoin’s Dec. 31 closing price was $4.25. From that level, the value of just one of the 21 million bitcoins that will ever exist is now up over 2.3 million percent at BTC $100,000.
BTC $100,000 has long been viewed as the next/seemingly “final” frontier for Bitcoin’s price. Laser eyes and dank memes, as well as innovative products and user experiences, have accelerated us to this point.
Through years of speculation around “the world to be when Bitcoin reaches $100,000,” a common sentiment held that the $100,000 price level would somehow confer the legitimacy of “a peer-to-peer electronic cash system.” It would show the value of a tamper-resistant and immutable way of recording information. It would prove that decentralization had a place in modern society.
But, now that we are here, those goals may seem as if they still have more to deliver. It feels like this is still only the beginning. We’ve reached a pricing milestone, but when it comes to fulfilling Satoshi’s original vision for Bitcoin – its widespread use as a borderless, worldwide peer-to-peer electronic cash system – Bitcoin is still in its relative infancy.
Over the short term, it’s anyone’s guess whether the price of Bitcoin will continue its sprint higher or pull back from its recent run. What is clear is that the $100,000 milestone demonstrates ongoing demand for a reliable, transparent and peer-to-peer way to transact.
BTC $100,000 represents a monumental milestone in Kraken’s mission to accelerate the adoption of cryptocurrency, so that everyone can achieve financial freedom and inclusion. We’d like to congratulate those who have built in the space alongside us and played a role in realizing this achievement.
We’d also like to congratulate our clients as they celebrate this watershed moment, while making a commitment to serve them through the next chapters of Bitcoin’s history.
Join us as we reflect on the journey that got us here and commemorate this remarkable day – while we reaffirm our commitment to a future of financial freedom.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorised to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here.
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