Bitcoin Price Hits $100K Over Trump’s Crypto-Friendly Policies
SINGAPORE, December 05, 2024 – The price of BTC has been constantly rising since the US election results and reached $100,000 for the first time this Wednesday.
This is a historic milestone both for the world’s largest cryptocurrency and millions of crypto investors worldwide who have been waiting for this moment.
The most obvious reason for this unprecedented surge in the crypto market is Donald Trump winning the US presidential election last month. Trump, known for his positive attitude towards cryptocurrencies, has recently announced his new cabinet, which includes Paul S. Atkins as the head of the US Securities and Exchange Commission. Atkins is a cryptocurrency advocate and a strong supporter of blockchain technology.
This, and other crypto-friendly developments, has led to the Bitcoin price soaring by over 50% since Nov. 5.
Bitcoin, famously known as the father of all cryptocurrencies, is the most prominent and trusted digital currency and one with the biggest market cap of all. The recent surge has also helped the digital currency reach the $2 trillion market cap for the first time.
Trump, once a crypto-sceptic, has lately changed his views about digital assets and even showed interest in creating a U.S. bitcoin “strategic reserve” similar to those for gold and oil. While attending the Bitcoin Conference in Nashville, Tennessee this year, Trump praised the crypto community for its innovation and even promised to make the U.S. the crypto capital of the world if he got elected again.
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