Bitcoin Shatters $100K Milestone Following Trump’s Pro-Crypto SEC Nomination
Bitcoin surpasses $100,000 as President-elect Trump selects a pro-crypto SEC chair. Discover how this historic decision is shaping the future of cryptocurrency markets.”
Washington, D.C. — The cryptocurrency market witnessed a ground breaking surge as Bitcoin soared to an all-time high of $101,555 following President-elect Donald Trump’s selection of a crypto advocate to lead the U.S. Securities and Exchange Commission (SEC). This historic milestone reflects the growing optimism for a more crypto-friendly regulatory environment in the United States.
Trump’s pick for SEC Chair, Paul Atkins, a vocal supporter of digital assets, signals a sharp pivot from the stringent policies of outgoing chair Gary Gensler. Gensler’s tenure was marked by a crackdown on crypto firms, particularly after the 2022 market collapse that revealed widespread fraud and caused major financial losses.
“Paul Atkins’ nomination feels like a breath of fresh air for the crypto community,” said Jason Titman, CEO of crypto brokerage Swyftx. “Traders are now betting on a regulatory framework that will encourage innovation rather than stifle it.”
The flagship cryptocurrency surged by over 3% during Asian trading hours on Thursday, crossing the $100,000 threshold for the first time. Since Trump’s election win on November 5, the broader crypto market has added a staggering $1.4 trillion in market value.
While Bitcoin enthusiasts celebrated this rally as validation of the asset’s potential as a hedge against inflation and a store of value, critics remained skeptical. They warned about the asset’s volatility and questioned how sustainable the upward trend is.
Adding fuel to the rally, Russian President Vladimir Putin declared at an economic forum in Moscow that no authority can ban the use of Bitcoin or other cryptocurrencies. This statement further underscored the growing global acceptance of digital currencies.
Even as Bitcoin enthusiasts reveled in the record-breaking achievement, critics pointed to its unpredictable nature. Case in point: Meitu Inc., a tech firm specializing in digital content, sold off its entire Bitcoin and Ethereum holdings for $180 million, citing the current price levels as a “good opportunity to lock in gains.”
Despite such cautionary tales, institutional interest in crypto remains robust. U.S. Bitcoin exchange-traded funds (ETFs) have attracted a net inflow of $32 billion this year, with $8 billion flowing in after Trump’s election victory. Trading volumes for digital assets and their derivatives also hit a record high of over $10 trillion last month, according to CCData.
The president-elect has made his stance on crypto clear, promising to dismantle the restrictive policies of the Biden administration. Trump’s agenda includes appointing crypto-friendly regulators, fostering innovation, and even exploring the concept of a national Bitcoin reserve. While ambitious, this vision underscores his administration’s commitment to positioning the U.S. as a global hub for digital assets.
As Bitcoin continues its upward march, the crypto community is abuzz with speculation about what lies ahead. Will Bitcoin maintain its momentum under a pro-crypto administration? Or will volatility remain its Achilles’ heel?
One thing is certain: the cryptocurrency market is entering a new chapter, driven by optimism, innovation, and the promise of transformative change.
- Bitcoin Breaks $100K: A historic milestone fueled by Trump’s crypto-friendly SEC appointment.
- Pro-Crypto Leadership: Paul Atkins’ nomination signals a shift toward supportive regulations.
- Global Acceptance: Statements from leaders like Putin bolster the digital currency’s legitimacy.
- Institutional Investment Grows: ETFs and trading volumes reach record highs.