Key Takeaways
- Cathie Wood calls Bitcoin's $100K milestone 'early innings.'
- Bitcoin reached a $2 trillion market cap in under 16 years.
- Bitcoin's value now dominates 52.6% of the total market.
Bitcoin hit a historic $100,000 on Dec. 5, marking its position as a $2 trillion asset. ARK Invest CEO Cathie Wood believes this is just the beginning for Bitcoin, emphasizing its immense potential.
Taking to X (formerly Twitter), Wood congratulated the industry and praised President-elect Donald Trump’s nomination of Paul Atkins, a Bitcoin advocate, as SEC chair.
She highlighted Federal Reserve Chair Jerome Powell’s reference to Bitcoin as “digital gold,” arguing that Bitcoin surpasses gold due to its digital, borderless nature.
Wood stated:
Bitcoin is a much bigger idea than gold.
At $102,750, Bitcoin’s market cap stands at $2 trillion, compared to gold’s $15 trillion at $2,700 per ounce.
Bitcoin’s rise to a $2 trillion market cap in less than 16 years showcases its rapid growth. In comparison, Amazon and Apple took 29 and 42 years, respectively, to reach similar valuations.
Danny Chong, co-founder of Tranchess, attributed the milestone to the proliferation of institutional players like BlackRock and Fidelity, and the introduction of Bitcoin ETFs.
Chong remarked:
This price point isn’t just a number — it’s a testament to Bitcoin’s growing legitimacy and mainstream acceptance.
Currently, Bitcoin dominates 52.6% of the market, with the total crypto market valued at $3.9 trillion.
