Australian Traders See Bitcoin Surpass AUD $100,000

By Ben Knight March 05, 2024 In Bitcoin, Cryptocurrency
  • Bitcoin has surged past AUD $100K after a month of impressive gains.
  • Australia’s dollar has fallen relative to the USD, which explains why the cryptocurrency hasn’t recorded an all-time high across the pond.
  • A high-stakes political game is about to erupt Down Under, with many considering a shift away from the national currency, Dollarydoos, into BTC.
  • For the record, Dollarydoos is not actually the national Australian currency…yet.

Bitcoin might be on the cusp of breaking its USD all-time high, but traders in Australia have already been there, done that. The price of BTC hasn’t just moved past AUD $100K – it’s blasted its way through the barrier and is currently trading at nearly $104K.

All-time AUD chart for Bitcoin (BTC), source: CoinMarketCap

Dollarydoos or Bitcoin? The Question to Divide a Nation

For those in South Africa, where BTC is trading for over a million ZAR, AUD $100K may not seem all that impressive. But for those of us Down Under, $100K is a fair chunk of a change. Here are just some of the things $100K could buy you in Australia:

  • 16 adult kangaroos
  • A property in Broken Hill
  • 40,000 avocados
  • 223 attendances to the AFL Grand Final

Australia isn’t the biggest crypto market going around, although it does offer a swathe of highly reputable home-grown exchanges. However, the community Down Under is, in true crypto style, as prolific on the memes as any other nation. Which as we know, is more important than anything else when it comes to crypto. 

Related: Spot Bitcoin ETFs Hit Record-Breaking Volume, Again


Bitcoin’s price surging past $100K poses the big question: 

Should Australia stick with its current national currency of Dollarydoos? Or should we now bow down to our BTC overlords? The world is split on an answer, and it may take a few years before we come to a consensus.

But for now, Aussie investors can sit back and sip their martinis while gloating to friends and family: “I told you Bitcoin would be worth six figures, didn’t I!”

Or, as Twitter user @Joeysays_so posted:

Ben Knight

Ben Knight

Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.

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