Bitcoin continued its unprecedented rise on Thursday as the world’s largest cryptocurrency topped $98,000 for the first time during European trading.

Bitcoin soared to a record of $98,367, closing in on the $100,000 milestone, Reuters reported.

This surge, driven by a Republican win in the recent US elections, has seen Bitcoin gain nearly 30 per cent over the past two weeks.

“I stand by the belief that the cryptocurrency revolution is far from over. Bitcoin’s recent surge is a monumental achievement, underscoring the resilience, value, and growing adoption of decentralized digital assets in an ever-evolving financial landscape,” said Anish Jain, founder and CEO at W Chain.

According to experts, this rise in Bitcoin’s price signals a few key things: the maturation of the cryptocurrency market, the increasing integration of blockchain technology into mainstream finance, and a shift in global perspectives toward alternative assets. “With institutions, businesses, and governments recognizing Bitcoin as a store of value, we are witnessing a significant transition in how people view money, wealth, and economic systems,” Jain said.

Bitcoin’s price surge is not just about speculation – it reflects deepening trust in its scarcity model and decentralised nature. “As the world grapples with inflation and economic uncertainty, Bitcoin provides a hedge against traditional financial systems that have been prone to volatility. With the recent halving event and the growing interest from institutional investors, Bitcoin is beginning to fulfil its role as “digital gold,” offering security and long-term value,” Jain said.