Bitcoin soared past $100,000 on Thursday, driven by optimism about the incoming Trump administration’s support for cryptocurrencies. The surge comes as President-elect Donald Trump announced plans to nominate Paul Atkins as SEC chair, signaling a shift toward deregulation.
Atkins, a pro-crypto advocate, is set to replace Gary Gensler, known for his strict enforcement on the industry. Trump’s campaign promises include creating a crypto advisory council and rolling back policies that have restricted the sector.
Trump Celebrates the Milestone
The president-elect celebrated the milestone on his Truth Social platform, posting:
“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!!”
This milestone is the result of growing enthusiasm for a regulatory environment favoring crypto innovation. Bitcoin has more than doubled in value this year, surging 45% since the November election. Investors are betting on the new administration’s pro-business stance, which could lead to broader crypto adoption and market growth.
Other Cryptos Benefit from Optimism
Other cryptocurrencies, like XRP and Dogecoin, are also benefiting from this optimism. XRP has jumped 440% in a month, and Dogecoin has surged 366% this year, with speculation linking its rise to billionaire Elon Musk’s playful proposal of a “Department of Government Efficiency” (DOGE).
Whether you’re a seasoned investor or just curious about the crypto world, this is a historic moment for digital currencies—and the Trump administration’s policies could shape its future even further.
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