Bitcoin Crosses $100,000 Mark

Bitcoin surged past the $100,000 threshold on Thursday, driven by optimism around pro-crypto regulations under President-elect Donald Trump. Fed Chair Jerome Powell also likened Bitcoin to gold.

The cryptocurrency increased by 5.9%, reaching a record high of $101,438.9 during Asian trading hours. The $100,000 milestone is seen as significant and may indicate further strength in the market.

Trump's nomination of Paul Atkins to lead the U.S. Securities and Exchange Commission, replacing Gary Gensler, has been welcomed by traders. Atkins is recognized for his pro-crypto stance, while Gensler has enforced strict regulations against cryptos over the last two years.

Additionally, Powell's remarks positioning Bitcoin as a speculative vehicle, comparing it to gold, bolstered its appeal.

So far in 2024, Bitcoin has surged approximately 140%, largely following Trump's election, where he promised to implement crypto-friendly regulations and position America as the "crypto capital" of the world.