On November 21, bitcoin continued to rise, breaking through $97,500, now reported at $97,525.79 per coin.

The sharp rise in the price of bitcoin is mainly attributed to the influx of a large amount of funds.

Financial giants like BlackRock have not only included bitcoin in their balance sheets, but have also launched Bitcoin Exchange Traded Funds (ETFs), attracting a record $2.6 billion inflow shortly after the U.S. presidential election.

J.D. Seraphine, CEO of Raiinmaker, an AI verification platform based on cryptos, said in an interview, "Large financial institutions like BlackRock have already included bitcoin in their balance sheets, which is completely different from any previous cycle of this asset."

The approval and adoption of bitcoin ETFs make it easier for traditional investors to participate in investments. This institutional recognition is seen as an endorsement of bitcoin's legitimacy and long-term potential.

President Trump's victory is considered a positive catalyst for the price trend of bitcoin.

Many in the digital currency industry expect the Trump administration to introduce more favorable regulatory policies for cryptos.

On the news front, the digital assets industry is pushing to establish a new position at the White House dedicated to cryptocurrency policy to strengthen its influence on the new Trump administration. The Trump team is in discussions with the digital assets industry on whether to create such a position, with the industry seeking the opportunity to directly engage with the incoming president. Trump is now an important supporter of cryptocurrencies.

"Trump's victory undoubtedly accelerated the rise in prices during this cycle," Seraphine pointed out, "The enthusiasm surrounding Trump taking office and creating regulatory clarity for US cryptos is very high." Gabriele Giancola, CEO of Qiibee, also expressed a similar view, saying:

The future of Bitcoin: When will it break through 0.1 million US dollars?

Although experts generally believe that Bitcoin will eventually break through 0.1 million US dollars, there is still disagreement on the timing. Some forecasts suggest that this target will be achieved by the end of 2024, while others think it might be delayed until early 2025.

The overall consensus is that Bitcoin reaching 0.1 million US dollars is just a matter of time, rather than a question of whether it can be achieved. However, potential fluctuations and pullbacks in the short term cannot be ignored. Experts believe that behind Bitcoin's current growth compared to previous cycles, there is stronger fundamental and institutional support, making its outlook more solid.