This story at a glance…

1. Bitcoin hits $100K, driven by Trump’s crypto-friendly stance.

2. $7B flowed into Bitcoin ETFs since Election Day.

3. Critics call Bitcoin’s government ties ironic.

4. Its $2T market cap sparks bubble concerns.

Bitcoin Hits $100,000: The New “Digital Gold”

Bitcoin, the 16-year-old cryptocurrency that began as an experiment among internet enthusiasts, has hit a jaw-dropping milestone—$100,000 per coin. This historic rise reflects a seismic shift in its role from a fringe financial tool to a mainstream asset class. But what’s behind this meteoric rally, and what does it mean for everyday Americans?

Bitcoin’s Meteoric Rise
Bitcoin’s price has surged 40% since Election Day, topping $100,000 late Wednesday. This is no mere coincidence. Market optimism is being driven by the election of Donald Trump, whose pro-Bitcoin rhetoric has flipped Washington’s script on cryptocurrency.

“Trump’s tone has been an enormous boost for Bitcoin,” said Jeremy Allaire, CEO of the crypto firm Circle. The president-elect’s promise to create a federal Bitcoin reserve and appoint crypto-friendly regulators, like Paul Atkins to the SEC, has ignited a wave of institutional and individual investment.

Since Election Day, over $7 billion has poured into Bitcoin-focused exchange-traded funds (ETFs), according to Morningstar Direct. These funds, which allow investors to hold Bitcoin without the hassle of managing cryptographic keys, have made Bitcoin more accessible than ever.

This surge has pushed Bitcoin’s total market value past $2 trillion. To put that in perspective, that’s more than the combined value of Mastercard, Walmart, and JPMorgan Chase.

Bitcoin’s Changing Identity
Bitcoin’s ascent is a study in irony. Created in 2008 by the pseudonymous Satoshi Nakamoto, Bitcoin was envisioned as a decentralized alternative to government-controlled money. Yet today, it’s thriving on government endorsements and Wall Street adoption.

Critics highlight this shift as a departure from Bitcoin’s libertarian roots. Tim Swanson of Clearmatics told The Wall Street Journal, “The whole purpose of Bitcoin was to exist outside of government control. Now some Bitcoiners are lobbying for subsidies and regulation.”

What This Means for You
For most Americans, Bitcoin remains more of an abstract concept than a practical tool. Despite its origins as a digital payment system, Bitcoin is rarely used for transactions today. Instead, it’s marketed as “digital gold,” a hedge against inflation and a store of value.

Yet Bitcoin’s price is notoriously volatile. After reaching a peak of $69,000 in 2021, it plummeted to under $16,000 following the collapse of the crypto exchange FTX in 2022. As The New York Times noted, “Bitcoin investors went from buying Lamborghinis to lamenting their losses in a matter of months.”

A Global Phenomenon
Bitcoin’s impact extends beyond U.S. borders. El Salvador famously adopted Bitcoin as legal tender in 2021, and Bhutan has quietly amassed its own reserves. Governments and corporations alike are recognizing Bitcoin’s potential. Tesla, for instance, holds significant amounts of Bitcoin on its balance sheet.

However, the digital currency is not without its critics. Environmental groups have raised alarms about the energy-intensive mining process, which consumes as much electricity annually as some small countries. Meanwhile, scams and cybercrime remain a persistent issue. Chainalysis reports that cybercriminals used digital currencies to facilitate $500 million in ransom payments in just the first half of this year.

From Pizza to Powerhouse
The most expensive pizza in history? In 2010, a programmer traded 10,000 Bitcoins—now worth $1 billion—for two Papa John’s pies. This quirky origin story underscores Bitcoin’s astonishing rise.

From a novelty item to a $100,000 asset, Bitcoin embodies the unpredictable nature of our financial system. It’s a reminder to approach such investments with both curiosity and caution.

Reflection
Bitcoin’s story is a modern parable about the allure of worldly wealth. While financial security has its place, Scripture reminds us of greater treasures. Matthew 6:19-20 says, “Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven.” As Bitcoin and other investments capture headlines, let’s remember that true wealth is found in faith, hope, and love. These are treasures that no market crash can ever take away.