Bitcoin Hit $100k. What's Next?

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.2 • 5.3K Ratings

🗓️ 11 December 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Last week, the price of Bitcoin reached $100,000 per coin, an all-time-high as President-elect Donald Trump promises his administration will be crypto-friendly. WSJ’s Alexander Osipovich breaks down the outlook for cryptocurrency. Further Reading: -Bitcoin Hits $100,000, Lifted by Hopes of a Crypto-Friendly Washington -Crypto Players Celebrate SEC Pick, Bitcoin Touches $100,000 Further Listening: -Inside the Trump Crypto Bromance -Coinbase’s CEO on the Future of Crypto Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Our colleague Alexander Ossipovich has covered Bitcoin for seven years, and he has a takeaway.
0:12.8	Bitcoin is not for the faint of heart. It's very volatile, and periodically it has these massive drawdowns where it loses much of its value.
0:21.0	Bitcoin at $20,000.
0:24.6	We got Bitcoin getting a new all-time high.
0:27.9	It topped $50,000 a coin.
0:31.2	Bitcoin plunged by 22% to below $42,000.
0:35.3	Some key cryptocurrencies like Bitcoin did rebound a bit today,
0:40.3	but that's only after months of steady, dramatic losses.
0:44.3	So the price of Bitcoin near an all-time high.
0:47.3	What's your favorite Bitcoin milestone?
0:51.3	Well, I quite like the one that was in late 2017 when Bitcoin got nearly to
0:56.8	$20,000, because I felt like that was the first time that Bitcoin really broke out into the
1:02.1	broad public consciousness and grandma was buying Bitcoin. The one since then have felt like a,
1:08.7	you know, a season recap or something to me.
1:13.9	Okay. And if Grandma bought Bitcoin at 20,000, how's Grandma doing today?
1:20.2	Grandma would have gotten about a five-fold return on her investment.
1:23.7	Because last week, crypto hit a major milestone. What happened?
1:29.4	Late in the evening on Wednesday, December 4th, Bitcoin traded above $100,000 for the first time.
1:37.1	This was the culmination of a rally that began with the election of Donald Trump.
1:45.0	Trump has lately styled himself
1:47.5	as a pro-Bitcoin, pro-crypto candidate,
1:51.7	promised to appoint people who are crypto-friendly,
	...

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