Episode 3: You Can’t Spell Crypto Without “Cry”

Bitcoin surges past $100,000, creating a historic milestone for cryptocurrency.

CONGRATS TO ALL OF THE BITCOIN HOLDERS!!!

I hope you enjoy today’s episode. I discuss my sketchy intro to the world of cryptocurrency and my near-decade-long reluctance to invest in it. I finally came around, and I’ve invested in it over the past 3 years I’m in a great mood right now, but had I had invested in 2013, I’d be recording this episode from a yacht in Tahiti. Below, I broke down for you everything that you need to know about the recent surge in Bitcoin’s value. Enjoy!

FULL EPISODE: https://frankarriola.substack.com/p/episode-3-you-cant-spell-crypto-without?r=1z4obp&utm_campaign=post&utm_medium=web&triedRedirect=true

Frank

BITCOIN BONANZA

The cryptocurrency world witnessed a historic moment as Bitcoin, the world’s largest digital currency, surged past the $100,000 mark for the first time. This landmark achievement underscores Bitcoin’s evolution from a niche digital experiment to a globally recognized financial asset.

The Road to $100K

Bitcoin’s journey to $100,000 has been a rollercoaster of highs and lows, marked by skepticism, adoption, and innovation. After a rocky 2022 and a more stable recovery phase in 2023, the cryptocurrency entered 2024 with renewed momentum. Factors such as increasing institutional adoption, limited supply, and growing interest from retail investors helped propel Bitcoin to this monumental valuation.

Why Did Bitcoin Cross $100K Now?

Several factors contributed to Bitcoin’s recent surge:

1. Institutional Adoption
   Large-scale investments from financial institutions like BlackRock, Fidelity, and global banks solidified Bitcoin’s position as a legitimate asset. The introduction of spot Bitcoin ETFs in multiple countries provided easier access for retail and institutional investors alike.
2. Scarcity and Halving Effect
   Bitcoin’s inherent scarcity — capped at 21 million coins — combined with the approaching halving event, has heightened demand. Historically, halvings have triggered bullish runs as reduced rewards for miners limit the supply of new Bitcoin.
3. Global Economic Conditions
   Inflation concerns, geopolitical tensions, and a weakening dollar have driven investors to view Bitcoin as a store of value, akin to digital gold. This perception bolstered Bitcoin’s appeal during uncertain economic times.
4. Mainstream Adoption
   Companies ranging from Tesla to Square now hold Bitcoin on their balance sheets. Additionally, El Salvador’s continued use of Bitcoin as legal tender and other countries considering similar moves have boosted confidence in its utility.

The Market Reaction

The crypto market reacted euphorically to the news, with Bitcoin leading a broader rally across the sector. Altcoins, which often follow Bitcoin’s momentum, saw significant gains, signaling renewed investor interest in the space. The total cryptocurrency market capitalization surpassed $3 trillion, marking another milestone.

However, not everyone celebrated. Critics remain concerned about Bitcoin’s volatility, environmental impact, and lack of regulatory clarity in some regions. Governments and financial regulators worldwide are still grappling with how to integrate cryptocurrencies into traditional financial systems without undermining economic stability.

What’s Next for Bitcoin?

As Bitcoin climbs into uncharted territory, speculation about its next move intensifies. Some analysts predict further growth, citing its increasing integration into global financial systems. Others caution that the market could experience a correction as investors take profits.

Key areas to watch include:

• Regulation: Governments’ responses to Bitcoin’s dominance could shape its future trajectory. Clearer regulations may either spur or stifle growth.
• Technology: Continued advancements in blockchain scalability and energy-efficient mining solutions could address some of Bitcoin’s criticisms and enhance adoption.
• Market Dynamics: With new highs often come corrections. Bitcoin’s ability to maintain its position above $100,000 will be a litmus test of market confidence.

A Symbol of Resilience

Bitcoin’s rise to $100,000 is more than a financial milestone; it’s a testament to the resilience of decentralized technology. From its inception in 2009 as a response to the global financial crisis, Bitcoin has evolved into a revolutionary asset that challenges traditional notions of currency and value.

Whether you’re a believer in Bitcoin’s potential or a skeptic, one thing is clear: its ability to disrupt, innovate, and redefine the global financial landscape cannot be ignored. As the world watches, Bitcoin’s next chapter is already being written, and the possibilities are as vast as the blockchain itself.

Episode 3: You Can’t Spell Crypto Without “Cry” was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.