The cryptocurrency has rallied over 40% since Election Day, hitting $103,853 after Trump nominated a crypto-friendly SEC leader
Bitcoin surpassed $100,000 for the first time, driven by optimism around President-elect Donald Trump’s pro-crypto stance.
The cryptocurrency has rallied over 40% since Election Day, hitting $103,853 after Trump nominated a crypto-friendly SEC leader. His promises to reduce regulations and establish a national bitcoin reserve have excited investors.
Bitcoin’s rally marks a shift for crypto, which once opposed government influence. Initially designed for decentralized finance, the digital currency now sees mainstream adoption.
US spot bitcoin ETFs attracted $7 billion since Election Day, further boosting prices.
Despite its volatility, bitcoin is increasingly viewed as “digital gold” and a way to safeguard money against inflation. It is not commonly traded in payments, which was the original vision of its elusive creator, Satoshi Nakamoto.