Key Points
- Bitcoin’s price surpasses the $100,000 mark, exciting the crypto community.
- Binance co-founder Changpeng Zhao (CZ) and other crypto enthusiasts react to this new milestone.
Bitcoin’s value has soared above $100,000, setting off a wave of enthusiasm among cryptocurrency fans. Changpeng Zhao (CZ), the co-founder and former CEO of Binance, has also expressed his thoughts on this development on his X page.
CZ celebrated Bitcoin’s new milestone on December 4 with the crypto community. He stated that while others profited from the price increase, he did not. His Bitcoin holdings remain the same, but their value has increased, making everything else appear cheaper in comparison.
Bitcoin as a Store of Value
Changpeng Zhao’s comments reflect a common belief in the cryptocurrency community. Bitcoin is seen as a store of value and a measure of wealth, not just an asset priced in fiat currency.
Crypto content creator AB responded to the post, stating his plan to continue holding the coin for a longer period. He predicted that the next bear market could see Bitcoin’s value drop between $60,000 and $80,000.
AB further stated that he would continue to purchase more Bitcoin as the goal is not just to make money, but to preserve value. He noted that Bitcoin remains his strongest asset.
Old Bitcoin Wallets Reactivated
A crypto tracker, Whale Alert, revealed that an old Bitcoin wallet, inactive for 13 years, was accessed. The 50 Bitcoin it held, worth $219 in 2011, is now valued at over $5.16 million.
Similarly, another wallet that had been inactive for more than 12 years was also accessed. Whale Alert reported that this crypto wallet contained 10 Bitcoin worth around $50 in 2012. The same Bitcoin is now worth approximately $1.23 million.
The recent activation of these dormant accounts is not surprising, given Bitcoin’s new milestone of surpassing the $100,000 mark. The coin is currently trading at $102,835. Many Bitcoin enthusiasts believe this is just the beginning of more price increases.
It’s difficult to predict how high Bitcoin’s price could go in the near future. However, its increase is expected to impact altcoins, causing their prices to rise as well.
