Bitcoin hits $100,000 for first time amid hopes of Trump’s crypto-friendly policies
Bitcoin soared past the $100,000 mark for the first time on Thursday, buoyed by hopes that US President-elect Donald Trump will introduce measures to deregulate cryptocurrencies once he assumes office next month.
The cryptocurrency was trading at $102,727 as of 8:43 am IST, extending a rally that began after Trump’s election victory on November 5. During his campaign, Trump pledged to make the United States the «bitcoin and cryptocurrency capital of the world.»
«Key developments, including Elon Musk heading the newly established Department of Government Efficiency, plans for a dedicated White House crypto policy role, and Trump’s appointment of Paul Atkins as SEC Chair, have fuelled this remarkable rally towards this mark,» said Edul Patel, Co-founder and CEO of Mudrex.
«Institutional confidence is continuing to grow, with Bitcoin ETFs adding $676 million in a single day. This milestone is also expected to attract more retail investors, pushing crypto further into becoming a mainstream asset. With Trump’s pro-crypto agenda and Atkins’ leadership, the market is bound for friendlier reforms and wider adoption, setting Bitcoin on track to reach $120,000 in the coming weeks,» Patel added.
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