In a historic milestone, Bitcoin’s value has shattered the $100,000 ceiling, surging to $102,554.52, amid a crypto-friendly wave sparked by Donald Trump’s pro-crypto stance.
This significant turning point for the cryptocurrency marks a more than 100% increase in value this year, with Bitcoin’s market capitalization now exceeding $2 trillion.
The rally gained momentum after Trump named cryptocurrency advocate Paul Atkins to chair the Securities and Exchange Commission (SEC), indicating a shift toward a more favorable regulatory environment.
“We’re witnessing a seismic shift in the cryptocurrency landscape,” said Michael Sonnenshein, CEO of Grayscale Investments. “Trump’s pro-crypto stance and the appointment of Paul Atkins to chair the SEC have energized the market and paved the way for institutional adoption.”
Institutional money is flowing in, with BlackRock’s Bitcoin ETF alone managing $45 billion in assets. This influx of institutional investment has contributed significantly to Bitcoin’s surge in value.
Donald Trump’s pro-crypto stance has been a significant factor in Bitcoin’s surge in value. The president-elect has promised to make the United States “the bitcoin superpower of the world.”
“We’re going to make America great again, and we’re going to make bitcoin great again too,” Trump said during a recent campaign rally.
Trump’s comments have energized the cryptocurrency market, with many investors and enthusiasts interpreting his statements as a sign of increased adoption and mainstream acceptance.
