Bitcoin Soars Past $90,000 as $100,000 Target Looms

Bitcoin's recent surge has left investors wondering if it will hit $100,000 by the end of 2026. The digital currency has been on an upward trend since mid-August, with prices reaching levels not seen since early this year.

The rally comes despite the lack of progress on the Clarity Act, which aims to establish a regulatory framework for digital assets. However, some investors may see Bitcoin as a way to hedge against market risk, even though it hasn't proven to be a safe-haven asset in the past.

Bitcoin's performance this year has been underwhelming, with prices down around 26% over the past 12 months. But compared to equities, its valuation may seem attractive due to high stock prices.

David Jagielski, CPA, of The Motley Fool, is skeptical about Bitcoin reaching $100,000 by the end of the year. He notes that it has failed to be a safe-haven asset in the past and that broader market concerns may bring its price back down.