Bitcoin Hits Historic $100k Milestone Amid Trump’s Crypto-Friendly Policies

Bitcoin has reached a historic milestone, breaking past the $100,000 mark for the first time in its history. The surge to this record high has been fueled by growing optimism in the cryptocurrency market, particularly following comments from US President-elect Donald Trump about his crypto-friendly agenda.

The world’s largest digital currency hit the $100,000 threshold just hours after Trump announced his nomination of former Securities and Exchange Commission (SEC) commissioner Paul Atkins to lead the Wall Street regulator.

Mr. Atkins is widely regarded as more favorable toward cryptocurrencies compared to the current SEC head, Gary Gensler, who has been more cautious in his approach to digital assets. This move has reignited hope among crypto enthusiasts that Trump’s administration will implement policies that encourage the growth of the sector.

The $100,000 milestone was eagerly awaited, with crypto fans celebrating across social media platforms. For weeks, predictions, charts, and memes circulated, speculating on when Bitcoin would finally breach the coveted figure. The excitement reached a fever pitch, with millions of viewers tuning into online watch parties as the price inched closer to the historic mark.

Bitcoin’s volatile price movements have long been a point of intrigue, with backers cheering its climbs and standing firm through its dips. However, this particular milestone carries special significance in the world of digital currencies. It reflects not just the growing maturity of Bitcoin but also the increased acceptance of cryptocurrencies as legitimate financial assets.

The surge in Bitcoin’s value is part of a broader trend in the cryptocurrency sector, which is now estimated to be worth $3.3 trillion, according to analysis firm Coin Market Cap.

Bitcoin

The Trump victory in last month’s election has been identified as a catalyst for this latest surge, with his administration pledging to make the United States “the crypto capital of the planet” – a stark contrast to his previous remarks in 2021, when he described Bitcoin as a “scam.”

Remarkably, Bitcoin’s price has seen a meteoric rise since the beginning of the year, more than doubling in value. On Election Day, Bitcoin’s price stood at around $70,000, making today’s $100,000 price tag a 40% increase in just weeks.

For many, Bitcoin’s climb to $100,000 is more than just a financial milestone. It signals a new era for the cryptocurrency industry, one that may see even further growth as regulatory clarity improves and investor confidence strengthens.

With President-elect Trump’s potential policies now in the spotlight, the future of Bitcoin and the broader cryptocurrency market appears brighter than ever.

– BBC