Bitcoin smashes through $US100,000 as traders eye ‘huge re-rating’

Alex GluyasMarkets reporter

Updated Dec 5, 2024 – 4.52pm, first published at 3.31pm

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Bitcoin surged above $US100,000 for the first time on Thursday, smashing through a key psychological barrier that bullish investors say could be just the beginning of a historic bull run.

The world’s largest cryptocurrency jumped 4.5 per cent to as high as $US103,713.67 on Thursday afternoon, according to Coindesk. Bitcoin has more than doubled in value this year and is up about 45 per cent in the four weeks since US President-elect Donald Trump’s sweeping election victory.

Alex Gluyas is a markets reporter based in our Melbourne newsroom.