Bitcoin has reached a historic milestone, soaring past $100,000 following U.S. President-elect Donald Trump’s pivot to a crypto-friendly agenda. The cryptocurrency hit $103,800 on Thursday, marking a 50% increase since Trump’s election victory in November.
The rally gained momentum after Trump announced key pro-crypto appointments. He nominated Paul Atkins, a well-known cryptocurrency advocate, to head the Securities and Exchange Commission (SEC), signaling a potential shift in the regulatory landscape. Trump also declared his ambition to make the United States “the bitcoin superpower of the world.”
“Bitcoin reaching $100k is an incredible milestone for our movement,” said Kris Marszalek, CEO of Crypto.com. “We never doubted. We never wavered. And we will never stop building.”
Trump’s administration has energized the cryptocurrency market with its crypto-friendly stance. Notably, Howard Lutnick, a blockchain supporter, was nominated for the Commerce Department. Elon Musk, an outspoken tech innovator, was tapped to co-lead the “Department of Government Efficiency,” playfully nicknamed “DOGE” after the cryptocurrency Dogecoin. Dogecoin itself has seen a 150% surge since Trump’s victory.
This marks a stark contrast to the market struggles two years ago when Bitcoin fell to $16,000 amid the collapse of FTX and a crackdown on crypto by regulators. Today, institutional investors are returning in force. BlackRock’s Bitcoin ETF has already attracted $45 billion in assets, reflecting growing confidence in digital assets.
Cameron Winklevoss, co-founder of Gemini, highlighted the optimism: “This bitcoin bull run is different. We have a pro-tech president-elect, a red Senate, a red House, and a mandate from the country to build.”
Trump’s policies are fueling what analysts are calling a “golden era” for cryptocurrency. Since the election, over $4.4 billion has flowed into crypto exchange-traded funds (ETFs), while companies like MicroStrategy plan to raise $42 billion for additional Bitcoin investments.
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The speed of Bitcoin’s rise has been dramatic. Early in November, Bitcoin broke the $80,000 barrier, reaching an all-time high of $81,858. Days later, it climbed past $90,000 before crossing the $100,000 mark this week.
As of Thursday morning, Bitcoin was trading at $102,724.32, up 7% in the past 24 hours, according to CoinMarketCap.
Trump’s embrace of cryptocurrency represents a significant shift from his earlier skepticism. During his previous administration, digital currencies faced heavy scrutiny and regulatory actions. Now, he has pledged to replace SEC Chair Gary Gensler, who led over 100 enforcement actions against crypto firms, and to retain all Bitcoin held or acquired by the U.S. government.
The market’s optimism is clear, and industry leaders are celebrating the transformation. With institutional investments flooding in and a favorable policy environment taking shape, Bitcoin’s rise signals a new chapter for digital assets.