AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Bitcoin breaks the $100,000 mark, reaching a new all-time high.
- Optimism around Trump’s crypto policies fuels a major price rally.
- Trump’s nomination of Paul Atkins for SEC chair signals a friendlier regulatory approach.
Bitcoin has surged past the $100,000 threshold, reaching a record high on Wednesday. The cryptocurrency, known for its dramatic price fluctuations, rose 6% to reach an all-time peak of $103,619 (£81,482). As of Thursday morning, the price had slightly decreased to $102,638 (£80,711), but the impressive surge marks a significant milestone for the digital asset.
This surge comes amid growing optimism among crypto enthusiasts, driven by expectations surrounding the incoming Trump presidency. Since the U.S. election on November 5, 2024, Bitcoin’s price has jumped by approximately 45%, reflecting heightened market confidence. Other cryptocurrencies have also mirrored this growth, signaling broader sector optimism.
Bitcoin’s rapid ascent has been notable, especially when compared to its performance a year ago, when it traded at $37,000. In 2021, the cryptocurrency reached a then-record high of $63,000, only to experience significant fluctuations since. The current surge is attributed to shifting sentiment within the crypto industry, particularly as President-elect Donald Trump has shifted from previously criticizing cryptocurrencies to expressing support for them. During his election campaign, Trump made headlines with his remarks about creating a “strategic national Bitcoin stockpile” and positioning the U.S. as “the crypto capital of the planet,” although he did not outline specific policies.
Trump’s approach to cryptocurrencies is expected to bring more clarity and a friendlier regulatory environment, especially in contrast to the stance of the current SEC chair, Gary Gensler. Gensler’s tenure has been marked by stricter regulations aimed at crypto companies, leading to increased scrutiny of firms like Coinbase and Binance. This regulatory push, which has drawn criticism from the crypto sector, appears to be set for change, with Trump’s nomination of cryptocurrency lobbyist Paul Atkins to replace Gensler at the SEC. Atkins is viewed as someone who will be more favorable toward the digital asset space, a move that investors see as a potential catalyst for further growth in the crypto market.
This shift in leadership and regulatory approach has bolstered optimism within the cryptocurrency industry, signaling a more supportive environment for digital assets under the Trump administration.
