Bitcoin surges to $100,000 following Donald Trump’s crypto push

Bitcoin surges past $100,000 for the first time

Bitcoin has reached a historic milestone, hitting an all-time high of $100,000, signaling a major moment in the cryptocurrency‘s evolution.

The surge comes amid growing optimism among investors, fueled by expectations of a more crypto-friendly regulatory landscape under the incoming administration of Donald Trump, who recently secured a second term in the US presidency.

Since the beginning of 2024, Bitcoin has more than doubled in value, rising by approximately 45% in the past month alone, following Trump’s election victory. At 0240 GMT on Thursday, Bitcoin was trading at $100,027, up 2.2% from the previous session, after briefly surpassing $100,277 earlier in the day.

“Key developments, such as Elon Musk heading the newly created Department of Government Efficiency, plans for a White House crypto policy role, and Trump’s appointment of Paul Atkins as SEC Chair, have fueled this remarkable rally,” said Edul Patel, CEO and Co-founder of Mudrex. “With Trump’s pro-crypto agenda and Atkins’ leadership, the market is set for friendlier reforms and broader adoption, positioning Bitcoin to reach $120,000 in the coming weeks.”

A major driver behind Bitcoin’s rise is the anticipation of policy changes under the new administration. During his campaign, Trump pledged to make the US the “crypto capital of the planet” and announced plans to establish a national Bitcoin reserve, signaling his strong personal and political support for digital assets.

Industry experts are hopeful that Trump’s leadership will bring an end to the more stringent regulatory scrutiny that has been imposed under the current SEC Chair, Gary Gensler. Trump has already signaled his intention to nominate Paul Atkins, a former SEC commissioner with deep involvement in crypto policy, to lead the SEC.

Mike Novogratz, CEO of the US-based crypto firm Galaxy Digital, described the shift in leadership as a turning point for the industry. “We’re witnessing a paradigm shift. Bitcoin and the entire digital asset ecosystem are on the verge of mainstream financial acceptance,” Novogratz told Reuters.

With the potential for new regulations and support from the Trump administration, the cryptocurrency market is poised for significant growth, and Bitcoin’s ascent to $100,000 could be just the beginning.

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