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Bitcoin Hits $101,000 Amid Record ETF Inflows and Institutional Adoption

Dec 11, 2024, 03:23 PM

Bitcoin has surged back above the $100,000 mark, reaching as high as $101,000 on December 11, 2024. This milestone marks a significant rally after a period of consolidation, with the cryptocurrency gaining global acceptance from central banks, corporations, and governments, solidifying its position as a serious financial asset. The rise comes amid bullish market sentiment, increased institutional adoption, and record inflows into Bitcoin exchange-traded funds (ETFs). BlackRock's Bitcoin ETF saw inflows of 3,071 BTC ($302.89 million), bringing its total holdings to 530,832 BTC ($52.36 billion). The total assets under management for U.S. Bitcoin ETFs now stand at $110.43 billion, nearing the $126.34 billion held by U.S. Gold ETFs.