Bitcoin crosses $100,000 for first time on optimism over Donald Trump’s plans
Bitcoin surged past $100,000, reaching a new all-time high following pro-crypto actions by US President-elect Donald Trump. This milestone comes after years of fluctuating prices and predictions of a market crash, fueled by Trump's proposed SEC head and his own ventures in the crypto space. Experts believe this signals wider mainstream acceptance of digital assets.
FollowThe largest cryptocurrency in the world, Bitcoin, went above the $100,000 barrier for the first time, reaching an all-time high on December 5 in response to actions taken by US President-elect Donald Trump that demonstrate his support for the industry. According to media reports, Trump has "spurred expectations" that his second term will provide a supportive regulatory climate for cryptocurrencies. He proposed Paul Atkins, a well-known supporter of cryptocurrency, to be the next head of the US Securities and Exchange Commission (US SEC) on December 4.
According to Coinmarketcap statistics, Bitcoin was trading at $102,388.46 at the time of writing, and its market capitalization was up 6.84 percent to $2.03 trillion. The token reached $103,047.71 by 8:55 a.m. After years of highs and lows, including a 2022 bottom of $16,000, and predictions of an imminent "bubble burst," this peak has occurred at than 16 years after establishment.
“We’re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” said Mike Novogratz, founder and CEO of US crypto firm Galaxy Digital. "A clearer regulatory path, advances in tokenization and payments, and institutional adoption are driving this momentum."
Despite doubters and a history of controversy, bitcoin seems poised for widespread acceptance more than 16 years after it was first created. Trump embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin. Trump’s businesses may also have a stake in the sector. He unveiled a new crypto business, World Liberty Financial, in September.
Crypto investors see an end to increased scrutiny under US Securities and Exchange Commission Chair Gary Gensler, who said last week he would step down in January when Trump takes office.
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