Bitcoin has shattered the $100,000 milestone, reaching an all-time high of $103,800 on Thursday, fueled by a wave of optimism surrounding U.S. president-elect Donald Trump’s pro-crypto policies. This historic surge represents a 50% rally since Trump’s election victory in November, marking a dramatic shift in the cryptocurrency market’s trajectory.
Trump’s Pro-Crypto Pivot
A significant driver of Bitcoin’s rally is the president-elect’s commitment to fostering a crypto-friendly environment. Trump’s nomination of cryptocurrency advocate Paul Atkins to lead the Securities and Exchange Commission (SEC) underscores his intent to ease regulatory pressures on the industry. Atkins is expected to steer the SEC toward policies that encourage innovation and investment in digital assets.
Trump’s administration has also tapped prominent figures like Howard Lutnick for the Commerce Department and Elon Musk to co-lead the “Department of Government Efficiency,” humorously dubbed “DOGE” after the popular cryptocurrency Dogecoin, which has soared 150% since election day.
Trump’s campaign has pledged to defend Bitcoin mining, protect citizens’ ability to hold and transact with crypto assets, and eliminate “government surveillance and control” over the sector. In contrast to his earlier skepticism, Trump has declared his ambition to make the U.S. “the bitcoin superpower of the world.”
Market Momentum and Institutional Adoption
Bitcoin’s rally has been further amplified by the influx of institutional investments. BlackRock’s Bitcoin ETF now manages $45 billion in assets, while $4.4 billion has poured into crypto ETFs since November. MicroStrategy, a major corporate player in the crypto space, announced plans to raise $42 billion for additional Bitcoin investments.
“This is not just another bull run; it’s a paradigm shift,” said Mike Novogratz, CEO of Galaxy Digital. “Institutional adoption, advancements in payments and tokenization, and a clearer regulatory path are fueling this momentum.”
Cameron Winklevoss, co-founder of Gemini, echoed this sentiment: “With a pro-tech president-elect, a red Senate, and a red House, we’re entering a golden era for digital assets.”
Milestone Achievements and Historical Context
Bitcoin’s rise to six figures is a landmark in its journey since its creation in 2008 by the pseudonymous Satoshi Nakamoto. Despite its volatile history and skepticism from traditional financial institutions, Bitcoin’s current rally has set a new precedent.
In early November, Bitcoin smashed through the $80,000 milestone, followed by a record high of $90,000 just days later. On Wednesday evening, it hit a peak of $102,888, while CoinMarketCap placed it slightly lower at $102,724.32, reflecting a 7% increase in the last 24 hours.
This rally marks a sharp rebound from the sector’s downturn two years ago when regulatory crackdowns and the collapse of FTX pushed Bitcoin to lows of $16,000. Now, analysts predict a “golden era” for cryptocurrencies under Trump’s administration.
Broader Implications for Crypto
Experts view Bitcoin’s historic $100,000 milestone as more than just a financial achievement. “This is a testament to the shifting tides in finance, technology, and geopolitics,” said Justin d’Anethan, a Hong Kong-based crypto analyst.
Proponents argue that cryptocurrencies, particularly Bitcoin, are poised to enter the financial mainstream as both an investment vehicle and a means of transaction. Kris Marszalek, CEO of Crypto.com, described the milestone as an embodiment of resilience and progress: “We never doubted. We never wavered. And we will never stop building.”
While Bitcoin’s climb has reignited optimism in the crypto market, skeptics warn of the inherent risks associated with such volatile assets. However, with institutional backing, a supportive administration, and a shift in public sentiment, the cryptocurrency appears to be on track for sustained growth.
As Trump prepares to take office, the market remains optimistic that his administration will solidify the U.S.’s position as a global leader in the crypto space. This milestone may very well herald a new chapter in the evolution of digital finance.
