Bitcoin Price Hits $100,000 During Pro-Crypto Wave Under Trump – Latest Updates
BREAKING: Bitcoin has broken through the $100,000 mark, riding a wave of investor confidence fueled by the pro-crypto stance of U.S. president-elect Donald Trump.
Globaltimes reports that on Thursday, Bitcoin surged to an all-time high of $103,800, representing a remarkable 50 percent increase since Trump’s victory in the November election. This surge gained momentum following Trump’s nomination of Paul Atkins, a staunch crypto advocate, to lead the Securities and Exchange Commission (SEC), signaling a more favorable regulatory environment for cryptocurrencies.
Trump’s Crypto Revolution
Atkins’ appointment, coupled with Trump’s commitment to establish the U.S. as the “bitcoin superpower of the world,” has sent shockwaves through the market. Kris Marszalek, CEO of Crypto.com, lauded the milestone, stating, “Bitcoin reaching $100k is an incredible achievement for our movement. We never hesitated. We never faltered. And we will continue to build.”
Trump’s administration has also enlisted Howard Lutnick for the Commerce Department and Elon Musk to co-lead the “Department of Government Efficiency,” playfully named “DOGE” after the popular cryptocurrency Dogecoin, which has seen a 150 percent surge since the election.
Institutional Interest Soars
According to Financial Times, this surge marks a stark contrast to the sector’s downturn two years ago, when Bitcoin plummeted to $16,000 amidst FTX’s collapse and regulatory pressures. However, the tide has turned, with institutional investors flocking in, as evidenced by BlackRock’s Bitcoin ETF managing a staggering $45 billion in assets.
Cameron Winklevoss, co-founder of Gemini, expressed optimism, stating, “This bitcoin bull run is unlike any other. With a pro-tech president-elect, a red Senate, a red House, and a national mandate for progress, we are poised to thrive.”
A Golden Era for Digital Assets
With $4.4 billion pouring into crypto ETFs since November and companies like MicroStrategy planning to raise $42 billion for further Bitcoin investments, analysts foresee a “golden era” for digital assets under the incoming administration.
In the weeks leading up to November, Bitcoin surged past the $80,000 and $90,000 milestones, setting the stage for its remarkable climb above $100,000. As of 5:33 am, Coin Market Cap listed Bitcoin at $102,724.32, reflecting a 7 percent increase in the last 24 hours.
Notably, while Trump’s previous administration expressed skepticism towards cryptocurrencies, the president-elect has embraced the digital currency revolution, vowing to position the U.S. as the “crypto capital of the planet.” CNBC highlighted Trump’s pledge to retain all Bitcoin currently held by the government and to replace SEC Chair Gary Gensler, known for his stringent regulatory measures against crypto firms.
This momentous surge in Bitcoin’s price underscores the shifting landscape of digital assets under Trump’s pro-crypto administration, setting the stage for a new era of financial innovation and growth.
