Bitcoin Hits $100K, Peter Schiff Hits the Roof

Bitcoin has finally done it. In the semi-late hours of Wednesday night, the cryptocurrency that most—if not all—of the world said would never make it there crossed the $100,000 mark. There weren’t any major catalysts or blockbuster buys, just a steady climb—the kind Bitcoin has been known for over the years—that ultimately pushed it over the line after all the ups, downs, and drama.

Since the election, with President-elect Trump securing the top seat in the U.S., Bitcoin has surged 40% in just four weeks. At the time of writing, it’s trading as high as $104,000. Many credit the spike to Trump’s perceived bullishness on the asset and his pick for SEC Chairman, Paul Atkins, a crypto-friendly former regulator. Ever the showman, Trump even took to social media to congratulate the Bitcoin community, posting, “CONGRATULATIONS BITCOINERS!!! $100,000. YOU’RE WELCOME. Together, we will Make America Great Again.”

Meanwhile, Michael Saylor has been on a tear, snapping up Bitcoin like it’s the last Tickle Me Elmo in December 1996. His company, MicroStrategy (MSTR), recently announced an audacious “21/21 plan” to raise $42 billion over the next three years for more Bitcoin purchases—price be damned. The goal? To transform MicroStrategy into the premier “Bitcoin bank” and eventually generate a Bitcoin yield of 6% to 10% annually between 2025 and 2027. Ambitious much?

But not everyone is thrilled. Perma-bear and gold evangelist Peter Schiff is (predictably) not joining the party. On X, he grumbled, “It’s ironic that #Bitcoin only hit $100k by buying off politicians and getting in bed with the government. Without expected government intervention, this milestone never would have been hit. What couldn’t be done in a free market was achieved through the coercive power of the state.” Come on, Pete! Have a little fun...we all know you own some in a secret stash somewhere...