Bitcoin Surges Beyond $100,000
The leading cryptocurrency has been experiencing a surge due to investor optimism surrounding a pro-crypto Trump administration. Read Full Article at RT.com.
TroibNews 
Bitcoin has recently surged past the long-anticipated $100,000 mark, driven by investor optimism regarding a pro-crypto environment under President-elect Donald Trump’s administration.
Late on Wednesday, the leading cryptocurrency peaked at $103,844 per coin, before trading at $103,173 on Thursday, reflecting an increase of over 7% as of 14:54 GMT.
In 2024 alone, Bitcoin has risen more than 140%, with a substantial portion of this growth occurring in the aftermath of the election.
With a market capitalization exceeding $2 trillion, Bitcoin has secured its position as the seventh-largest financial asset, now eclipsing energy behemoth Saudi Aramco and edging closer to tech giants Amazon and Google. In total, the cryptocurrency market cap reached approximately $3.8 trillion on Thursday, representing an annual increase of over 131%.
This latest achievement coincides with Trump’s announcement to nominate Paul Atkins as chair of the Securities and Exchange Commission (SEC), the agency that oversees the cryptocurrency sector. Atkins, a crypto advocate and former SEC commissioner, will take over from Gary Gensler, who has been known for his tough regulatory stance on the industry. Trump has committed to replacing Gensler during his campaign.
Having once been skeptical about cryptocurrencies, Trump has shifted his viewpoint, asserting his ambition to establish the US as the “crypto capital of the planet” and advocating for all Bitcoin mining to occur domestically. He even utilized Bitcoin to purchase food and drink for his supporters at a bar in New York City.
Recent reports indicated that Trump’s social media enterprise is in discussions to acquire crypto trading platform Bakkt.
Many analysts had anticipated that Bitcoin may eventually break through this historic threshold, although reactions to the latest rally have varied among them.
“Individual investors must be excited to see the BTC price top $100,000 following the news of Paul Atkins being nominated as SEC chair,” said Shoki Omori, chief Japan desk strategist at Mizuho Securities in Tokyo.
“Of course, this doesn’t mean BTC will rally forever, as there will be moves to take profits,” he cautioned.
Jeff Mei, chief operating officer at BTSE in Hong Kong, opined that Bitcoin could reach “even greater heights” as a growing number of institutions recognize it as a legitimate store of value and start allocating resources to Bitcoin ETFs.
Mark B Thomas for TROIB News
Late on Wednesday, the leading cryptocurrency peaked at $103,844 per coin, before trading at $103,173 on Thursday, reflecting an increase of over 7% as of 14:54 GMT.
In 2024 alone, Bitcoin has risen more than 140%, with a substantial portion of this growth occurring in the aftermath of the election.
With a market capitalization exceeding $2 trillion, Bitcoin has secured its position as the seventh-largest financial asset, now eclipsing energy behemoth Saudi Aramco and edging closer to tech giants Amazon and Google. In total, the cryptocurrency market cap reached approximately $3.8 trillion on Thursday, representing an annual increase of over 131%.
This latest achievement coincides with Trump’s announcement to nominate Paul Atkins as chair of the Securities and Exchange Commission (SEC), the agency that oversees the cryptocurrency sector. Atkins, a crypto advocate and former SEC commissioner, will take over from Gary Gensler, who has been known for his tough regulatory stance on the industry. Trump has committed to replacing Gensler during his campaign.
Having once been skeptical about cryptocurrencies, Trump has shifted his viewpoint, asserting his ambition to establish the US as the “crypto capital of the planet” and advocating for all Bitcoin mining to occur domestically. He even utilized Bitcoin to purchase food and drink for his supporters at a bar in New York City.
Recent reports indicated that Trump’s social media enterprise is in discussions to acquire crypto trading platform Bakkt.
Many analysts had anticipated that Bitcoin may eventually break through this historic threshold, although reactions to the latest rally have varied among them.
“Individual investors must be excited to see the BTC price top $100,000 following the news of Paul Atkins being nominated as SEC chair,” said Shoki Omori, chief Japan desk strategist at Mizuho Securities in Tokyo.
“Of course, this doesn’t mean BTC will rally forever, as there will be moves to take profits,” he cautioned.
Jeff Mei, chief operating officer at BTSE in Hong Kong, opined that Bitcoin could reach “even greater heights” as a growing number of institutions recognize it as a legitimate store of value and start allocating resources to Bitcoin ETFs.
Mark B Thomas for TROIB News
