Bitcoin surges past $107k in relentless bull run, turning long-term skeptics into buyers

Bitcoin has smashed through the $107,000 mark, hitting an all-time high of $107,140 just an hour ago. The surge comes after a historic close of $106,493 last night.

This isn’t just another rally. This is Bitcoin rewriting its own narrative, dragging skeptics off the sidelines and turning them into believers. Crypto’s biggest critics, long dismissing it as a scam or a passing trend, are now joining the frenzy as Bitcoin’s market cap blows past $2 trillion.

Trump’s victory ignites Bitcoin

Donald Trump’s return to power is the reason for this Bitcoin mania. The president-elect has vowed to create a national Bitcoin stockpile and placed crypto advocate Paul Atkins at the head of the SEC.

Ian Johnson, a 28-year-old from Sioux Falls, South Dakota, bought Bitcoin for the first time on election night. “I’ve been wary of crypto my whole life,” Johnson reportedly said. “But seeing Trump win, I felt like Bitcoin was going to spike like crazy.”

After a few celebratory drinks, Johnson opened an account on Crypto.com and bought $1,000 worth of Bitcoin. In just weeks, his investment has gained 50%, and now he plans to buy a few hundred dollars every month if the price continues to rise.

Johnson’s story isn’t unique. First-time buyers are piling into the market, drawn by the hype and the fear of missing out. Across the Atlantic, Mikko Rintala, a 50-year-old software engineer in Finland, took a different approach.

“I don’t like Trump,” Rintala said, “but I figured his win would shake up the economy. Bitcoin felt like a hedge against that.” Rintala invested $1,000 in Bitcoin and Ripple, calling it his “lottery ticket” against economic uncertainty.

Trump’s influence on crypto goes beyond promises. His close ties with Elon Musk—known for his ability to swing crypto prices with a single tweet—have also added fuel to Bitcoin’s fire. Crypto bulls are betting that Elon’s support, paired with Trump’s policies, will keep the momentum alive. For four years at least.

Mainstream adoption fuels the rally

Years of skepticism have eroded as institutional adoption grows, and Bitcoin exchange-traded funds (ETFs) hit the market. November was a record-breaking month, with U.S.-based crypto ETFs pulling in $7.2 billion.

Hank Martinez, a 43-year-old tech worker in California, was one such skeptic. “I used to tell my family that crypto was a scam,” Martinez said. “But then I kept hearing about it during the election, and Trump’s talk of a ‘crypto czar’ made me rethink.”

Martinez started small, Googling whether he could buy a fraction of Bitcoin. After opening a Crypto.com account, he’s now watching his investment grow and laughing at his own doubts. “I’m all in now,” he said.

The frenzy isn’t just limited to tech workers or software engineers. It’s trickling into unexpected demographics. Bob Candelaria, a 44-year-old truck driver from Nashville, was inspired to invest after seeing UFC fighter Jon Jones wearing a Crypto.com shirt.

“If Jon Jones can rep crypto, why not me?” Candelaria said. He spent a few hundred dollars on Bitcoin, Ethereum, and Dogecoin, and now he studies crypto trends between his trucking routes. “If you can breathe, you can buy crypto,” he said.

Crypto.com has become a favorite platform for new investors, capitalizing on Bitcoin’s surge and making the buying process seamless. This accessibility is pulling in people who previously thought crypto was too complicated or risky.

According to the Pew Research Center, 17% of Americans now own some form of cryptocurrency, with younger men leading the charge.

Bitcoin’s rollercoaster reputation hasn’t scared off new buyers though. Its comeback from scandals like the FTX collapse and the bear market during the 2020 pandemic has convinced many that Bitcoin really is here to stay.

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