Bitcoin crossed the $100,000 mark for the first time on Thursday, marking a historic moment for the cryptocy as optimism over President-elect Donald Trump’s crypto-friendly policies continues to grow. Following his decisive election victory, which also saw several pro-crypto lawmakers elected to Congress, market sentiment has soared, driving Bitcoin up 45% over the past month and doubling its value in 2024.
As of Coinmarketcap data, Bitcoin is now trading at $102,721, surged over 7% in the past 24 hours. Investors and analysts view this milestone as a reflection of the broader acceptance of cryptocurrencies and a significant shift in global financial systems.
“We’re witnessing a paradigm shift. After four years of political uncertainty, Bitcoin and the entire digital asset ecosystem are poised to enter the financial mainstream,” said Mike Novogratz, CEO of Galaxy Digital. He credited this momentum to increasing institutional adoption, innovations in tokenization and payments, and the prospect of clearer regulations under Trump’s administration.
During his campaign, Trump vowed to transform the United States into the “crypto capital of the planet” and even proposed accumulating a national reserve of Bitcoin. In line with these promises, he has nominated Paul Atkins, a former SEC commissioner and a known advocate of digital assets, to lead the Securities and Exchange Commission (SEC). Atkins has been instrumental in shaping crypto policy through his work with the Token Alliance and the Chamber of Digital Commerce.
This shift comes as SEC Chair Gary Gensler announced plans to step down in January, signaling a potential end to the agency’s heightened scrutiny of digital assets. Crypto investors are optimistic that Atkins will steer the SEC toward fostering innovation and reducing regulatory friction for cryptocurrencies.
Analysts highlight Bitcoin’s rise as more than just a financial milestone. “Bitcoin crossing $100,000 is a testament to the shifting tides in finance, technology, and geopolitics,” said Justin D’Anethan, a Hong Kong-based crypto analyst. “What was once considered a fantasy is now a reality.” More than 16 years after its creation, Bitcoin appears poised for mainstream adoption, overcoming years of skepticism and controversy. Its meteoric rise reflects growing confidence in digital assets and their transformative potential in the global financial system.
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