Fueled by optimism over Donald Trump’s upcoming presidency and his pro-crypto stance, Bitcoin achieves a historic milestone, signaling the potential for mainstream acceptance and institutional adoption.
Bitcoin has crossed a significant threshold, surpassing $100,000 for the first time in its history. The cryptocurrency’s remarkable ascent is being attributed to a combination of factors, most notably the election of Donald Trump as the next president of the United States. This development has raised expectations among investors that Trump’s administration will usher in a more favorable regulatory environment for digital assets, spurring optimism across the crypto community.
Since Trump’s victory in the 2024 presidential election, Bitcoin has more than doubled in value, soaring approximately 45% in the last month alone. As of Thursday morning, Bitcoin was trading at $100,027, marking a 2.2% increase from the previous session, with earlier highs reaching $100,277. This surge has been seen as a direct reflection of the growing confidence in the crypto market, bolstered by Trump’s pro-crypto rhetoric and a slate of pro-crypto lawmakers elected to Congress.
The shift in sentiment is further highlighted by comments from Mike Novogratz, founder and CEO of Galaxy Digital, who described the moment as “a paradigm shift.” Novogratz emphasized that Bitcoin, along with the broader digital asset ecosystem, is on the cusp of mainstream financial acceptance, with institutional adoption, advancements in tokenization, and a clearer regulatory path driving this momentum.
For years, Bitcoin’s potential to reach $100,000 was dismissed by many as wishful thinking. However, Justin D’Anethan, a Hong Kong-based independent crypto analyst, noted that this milestone is a testament to the “shifting tides in finance, technology, and geopolitics.” D’Anethan added that what was once considered a fantasy is now a tangible reality, reflecting the transformative power of digital assets.
Trump has been a vocal supporter of digital assets throughout his campaign, with promises to make the U.S. the “crypto capital of the planet.” In his victory speech, Trump also hinted at plans to stockpile Bitcoin at a national level. The prospect of reduced scrutiny under the leadership of Gary Gensler, the outgoing SEC chair, has only fueled enthusiasm. Gensler’s resignation, set for January, is seen as a sign that the regulatory environment for digital assets will become more friendly under Trump’s administration.
Adding to the sense of optimism, Trump recently nominated Paul Atkins, a former SEC commissioner with deep ties to the crypto world, to head the Securities and Exchange Commission. Atkins’ involvement in crypto policy as co-chair of the Token Alliance, which advocates for best practices in digital asset issuance, signals a potential shift towards more crypto-friendly regulations.
The market’s enthusiasm has also been reflected in the performance of crypto-related stocks. Bitcoin miners, such as MARA Holdings, have seen significant gains, with some stocks surging as much as 65% in November alone. This optimism has been further reinforced by the approval of U.S.-listed Bitcoin exchange-traded funds (ETFs) in January, which has opened the door for greater institutional participation in the crypto space. More than $4 billion has flowed into U.S.-listed Bitcoin ETFs since the election.
Despite the rapid rise of Bitcoin and the growing institutional interest, some critics remain wary of the volatility and energy consumption associated with cryptocurrencies. Moreover, the industry still bears the scars of the 2022 FTX collapse, which cast a shadow over the digital asset market. However, these challenges have not deterred investors, who are watching closely as Bitcoin continues its ascent.
Looking ahead, experts predict that Bitcoin could continue its upward trajectory. Steven McClurg, founder of Canary Capital, expressed confidence that Bitcoin could reach $120,000 by Christmas, once the initial sell-offs have subsided. As the market adjusts to this new reality, many are hopeful that the future of Bitcoin and digital assets will be shaped by a more favorable regulatory environment under Trump’s administration, paving the way for broader adoption and integration into the global financial system.
In conclusion, Bitcoin’s rise above $100,000 marks more than just a milestone—it symbolizes the growing acceptance of digital assets as a legitimate financial force. With the backing of influential figures like Trump and the continued maturation of the crypto ecosystem, the future of Bitcoin looks brighter than ever.
