Bitcoin Surpasses $100,000

Bitcoin (BTC) has recently reached a new high, surpassing the $100,000 mark, marking a significant milestone for the cryptocurrency market both financially and psychologically. This achievement has sparked celebrations and analysis across the crypto community, highlighting Bitcoin's growth and future potential.

Brian Armstrong's Thoughts

Brian Armstrong, the CEO of Coinbase (NASDAQ:COIN), shared his insights on this historic event in a recent post. He pointed out that Bitcoin's long-term performance is impressive, noting that a $100 investment in Bitcoin in 2012, when Coinbase was founded, would now be worth approximately $1.5 million. He highlighted that fiat currency has depreciated, emphasizing Bitcoin's potential as a hedge against inflation.

Armstrong also suggested that governments consider including Bitcoin in their strategic reserves, as it's the best-performing asset of the past 12 years, with ample room for further growth amidst its ongoing adoption and development.

Coinbase's Bitcoin Holdings

When asked about Coinbase's investment in Bitcoin, Armstrong referenced the company's public financial disclosures. According to the latest Coinbase report, the company has $1.26 billion invested in crypto assets, including 9,363 BTC worth about $959.94 million and 119,696 ETH valued at $462.03 million. Coinbase's crypto holdings have increased by 12.85%, amounting to $161.97 million, over the past two months.

The milestone has reignited discussions about Bitcoin's role in global finance and its capability to challenge traditional asset classes. Industry leaders like Armstrong advocate for its broader acceptance, given its resilience and long-term value.

This article was originally published on U.Today