Bitcoin surged past the $100,000 mark for the first time in history, fueled by optimism following the election of Donald Trump as U.S. president. The Republican leader’s administration is anticipated to create a more favorable regulatory environment for cryptocurrencies, bolstering the sector’s confidence.
Bitcoin’s value has doubled this year, with a 45% spike in the four weeks since Trump’s election victory, which also saw pro-crypto lawmakers gain key positions in Congress. This marks a significant moment for digital currencies as they edge closer to mainstream financial acceptance.
“This is a paradigm shift,” said Mike Novogratz, CEO of Galaxy Digital. “Institutional adoption, advancements in tokenization, and regulatory clarity are driving this momentum.”
The rally has drawn further attention to Trump’s crypto-friendly policies, including his proposed national bitcoin reserve and the nomination of crypto advocate Paul Atkins to lead the SEC. Industry giants like Ripple and Circle are vying for influence in his proposed crypto advisory council.
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While critics highlight concerns over crypto’s environmental impact and prior scandals, market analysts predict continued growth, with some speculating Bitcoin could hit $120,000 by year-end.
This historic milestone signifies the increasing integration of cryptocurrencies into global finance, reshaping the economic landscape.
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