Bitcoin has crossed the historic $100,000 mark, reaching $103,359 as of today, and Donald Trump’s recent election victory is at the heart of the surge. Investors are buzzing with optimism over Trump’s crypto-friendly stance and the sweeping changes he promises for the cryptocurrency landscape.
On Election Day, Bitcoin hovered at $69,000 but jumped to $75,000 soon after Trump’s win was confirmed. The rally continued as Trump made bold moves, including announcing his plan to retain federal Bitcoin holdings and fire SEC chair Gary Gensler, a staunch crypto regulator. Gensler has since announced his resignation, effective January.
In a move signaling a seismic shift for crypto regulation, Trump revealed his pick for the next SEC chair: Paul Atkins, a former SEC commissioner and advocate for digital innovation. Atkins, known for his role in the Chamber of Digital Commerce’s Token Alliance, aligns with Trump’s vision of leveraging crypto to “Make America Greater than Ever Before.”
Adding to the momentum was the launch of options trading on Blackrock’s Bitcoin ETF, which saw a staggering $1.9 billion traded on its first day.
Trump’s proactive crypto agenda and leadership choices have sent a clear message: his administration could herald a new era for digital currencies. Bitcoin’s historic high signals that the market is taking notice.