Bitcoin Surges Above $100,000

(Reuters) – Bitcoin broke above $100,000 for the first time on Thursday as the election of Republican Donald Trump as president fueled bets that his administration will create a friendly regulatory environment for cryptocurrencies.

The world's biggest and best-known cryptocurrency has more than doubled from this year's low of $38,505 and is up over 50% since Trump's sweeping election win in early November.

Key Events in Bitcoin's Journey Towards $100,000 and Beyond:

• 2008: Satoshi Nakamoto introduces the concept of Bitcoin.
• 2010: The first retail transaction occurs when a user pays 10,000 Bitcoin for two Papa John's pizzas.
• 2013: Cameron and Tyler Winklevoss file their first application with the SEC to create a spot Bitcoin ETF; Grayscale Investments launches the Bitcoin Investment Trust.
• 2016: Winklevoss brothers adjust their application and file for a spot Bitcoin ETF with State Street as administrator.
• 2017: SEC rejects Winklevoss application due to immature Bitcoin markets; Grayscale withdraws its ETF attempt.
• 2018: SEC rejects Winklevoss twins' second spot ETF application citing lack of controls against manipulation.
• 2020: Grayscale's trust becomes an SEC-reporting entity and begins trading on the pink sheets.
• 2021: The first spot Bitcoin ETF launches in Canada; SEC approves ProShares Bitcoin Trust in October.
• 2022: SEC rejects several spot Bitcoin ETF applications; Grayscale sues the SEC as crypto prices crash.
• 2023:
  • May: ARK Investments and CBOE file for a spot Bitcoin ETF.
  • June: BlackRock files a spot Bitcoin ETF application, boosting Bitcoin prices.
  • August: A federal appeals court rules in favor of Grayscale regarding its rejected proposal.
  • October: SEC opts not to appeal the court's ruling in the Grayscale case.
• 2024:
  • January 10: SEC approves 11 proposals for spot Bitcoin ETFs.
  • February: Net inflows into top ETFs hit $4 billion.
  • March: Bitcoin tops $70,000 for the first time.
  • June: Trump promises to champion cryptocurrency at a fundraiser.
  • July: Trump proposes creating a national Bitcoin stockpile if elected.
  • October: SEC grants accelerated approval for 11 spot Bitcoin ETF options.
  • November 6: Trump wins the presidential election, fueling a rally in Bitcoin and other assets.
  • November 12: Total crypto market cap tops $3 trillion; ETF net inflows reach $25.8 billion.
  • November 21: Bitcoin nears $100,000 for the first time.
  • December 5: Bitcoin soars past $100,000, ending the year up over 140%.