Bitcoin has passed $100,000, marking its highest value since the cryptocurrency launched much than a decade ago, and arsenic of this writing, it has reached $103,359.00, according to Kraken. Despite its triumphs, Bitcoin’s worth is still being measured successful USD, emerging arsenic an alternate costs action aliases investment alternatively than a replacement for fiat currency.
The value of Bitcoin spiked pursuing the news that Donald Trump won the 2024 US Presidential Election. Bitcoin sat astir $69,000 connected Election Day but later changeable to $75,000 pursuing the news that Trump won, according to information from CoinDesk. Its value has been rising since, arsenic investors expect a much crypto-friendly situation nether the Trump administration.
Trump, who has launched his ain cryptocurrency platform, has promised to clasp onto the Bitcoin owned by the national authorities while besides vowing to occurrence Securities and Exchange Commission chair Gary Gensler, who has fought to modulate crypto firms. Gensler later announced that he would step down from the position successful January.
Image: Dune Analytics
The last push past the $100k people occurred a fewer hours aft Trump announced respective nominations for his administration, which included adding erstwhile Republican Securities and Exchange Commissioner Paul Atkins as his pick to lead the agency. Atkins has served arsenic co-chair of the Chamber of Digital Commerce’s Token Alliance, and Trump said he “recognizes that integer assets & different innovations are important to Making America Greater than Ever Before.”
Other factors contributed to the Bitcoin spike arsenic well, including the commencement of options trading connected Blackrock’s Bitcoin exchange-traded fund, which saw $1.9 cardinal traded during its first day.
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