Mike Novogratz, CEO of Galaxy Digital, has stressed the importance of Bitcoin reaching the $100,000 mark, stating that "it’s proof of adoption, belief, and a community that has carried this revolution from 0 to 100.

"Young people like digital assets a lot more than old people. And we are about to go through the greatest wealth transfer in the planet's history," he added. 

Bitcoin hit the widely coveted price level at 2:33 a.m. UTC on the Bitstamp exchange for the first time in history. 

As reported by U.Today, Novogratz repeatedly predicted that the flagship cryptocurrency would be able to reach six figures in 2024. 

Bitcoin's market cap has also surpassed $2 trillion for the first time. It accounts for a 52.7% share of the entire market. 

The crypto king is now on the cusp of surpassing Alphabet, the parent company of search giant Google, by market capitalization. 

The cryptocurrency surged above the $100,000 milestone after Federal Reserve Chair Jerome Powell recognized Bitcoin as a digital version of gold, while adding that it is not a competitor to the U.S. dollar. 

Moreover, the industry is currently in a celebratory mood after pro-crypto libertarian Paul Atkins was nominated to lead the U.S. Securities and Exchange Commission. 

"Another crypto ally taking a seat at the table. Bullish momentum building for the industry," Novogratz said in response to the nomination. 

Bitcoin is currently trading at $102,514 after reaching a new record peak of $103,679 earlier today, according to CoinGecko data. 

The largest cryptocurrency is so far up by 142%, according to CoinGecko data.