Bitcoin has reached $100, 000 for the first time, driven by hopes for favorable regulations under President-elect Trump. The price jumped by 6. 1% on Thursday, exceeding $103, 800 and rising over 50% since Trump’s election victory in November. Trump nominated crypto advocate Paul Atkins to lead the Securities and Exchange Commission, boosting investor confidence in a more crypto-friendly regulatory climate.

Trump’s nominations, including crypto enthusiasts like Elon Musk, have sparked excitement. Bitcoin’s rise marks a significant turnaround from its lows in 2022 after the FTX collapse. Regulatory fines, such as the $4. 3 billion penalty for Binance, and legal actions against major crypto players like Coinbase and Ripple, have been prominent under the current SEC chair, Gary Gensler.

Institutional money is flowing into bitcoin-focused exchange-traded funds, with BlackRock’s ETF hitting $45 billion in assets. Companies like MicroStrategy are also betting big, planning to raise $42 billion for bitcoin purchases.

Crypto executives anticipate a “golden era” under Trump, expecting new regulations to attract more investment from asset managers. Geoff Kendrick of Standard Chartered noted that interest in crypto remains strong.

Trump’s shift from previous crypto criticism to support came after receiving significant campaign financing from big crypto investors. The sector’s future looks promising as the political landscape favors technological innovation.

Bitcoin’s $100, 000 Milestone: A Trump-Powered Boost

Actions