Bitcoin has soared beyond the $100,000 milestone, reaching an all-time high of $103,800 on Thursday, fueled by market optimism following U.S. President-elect Donald Trump’s pro-cryptocurrency stance. This marks a 50% surge since Trump’s election win in November.
The rally intensified after Trump announced his selection of Paul Atkins, a prominent crypto advocate, as his nominee for SEC Chair. This move suggests a shift toward a crypto-friendly regulatory environment, further bolstering investor confidence. Trump’s declaration to establish the U.S. as the global leader in cryptocurrency has also amplified market enthusiasm.
Key institutional players, such as BlackRock, are driving this bull run, with its Bitcoin ETF managing $45 billion in assets. Additionally, companies like MicroStrategy are gearing up to invest billions more in Bitcoin, signaling strong institutional interest.
Market experts are hailing this as a potential “golden era” for digital assets under Trump’s administration. This comes after a sharp reversal from Bitcoin’s downturn two years ago when regulatory challenges and the FTX collapse drove prices as low as $16,000.
Trump’s crypto-friendly transition marks a significant departure from his earlier skepticism of digital currencies. He has pledged to retain the U.S. government’s Bitcoin holdings and overhaul the SEC’s leadership to promote crypto innovation. As of 5:33 a.m., Bitcoin was trading at $102,724.32, reflecting a 7% increase over the past 24 hours.
Analysts believe this surge could be just the beginning of an extended crypto boom under the incoming administration.
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