Bitcoin surpasses $100,000 mark amid Trump’s pro-crypto stance

Bitcoin, the world’s most prominent cryptocurrency, achieved a historic milestone on December 5, crossing the $100,000 mark for the first time. The surge follows positive signals from United States President-elect Donald Trump, suggesting a pro-cryptocurrency regulatory environment during his upcoming term.

On December 4, Trump announced the nomination of Paul Atkins, a vocal advocate for cryptocurrency innovation, as the next chairman of the US Securities and Exchange Commission (SEC). This move has bolstered investor confidence in the sector, leading to Bitcoin’s unprecedented rise.

Bitcoin’s journey to this milestone has been marked by extreme volatility. Created in 2008, the cryptocurrency has seen significant highs and devastating lows. It notably plunged to $16,000 in 2022, prompting fears of a market collapse. However, this year has been transformative, with Bitcoin more than doubling its value, fueled by growing institutional interest and favorable global sentiment toward digital assets.

Market analysts attribute this rally to Trump’s recent electoral victory on November 5, which has driven a 45% rise in Bitcoin's value. Expectations of a crypto-friendly administration have sparked optimism in the market, propelling the digital token into uncharted territory.

Despite the landmark achievement, experts caution that Bitcoin remains highly volatile. The speculative nature of the asset has raised concerns about the potential risks involved. Nonetheless, its proponents see this as the beginning of a new chapter for cryptocurrency, with a friendlier regulatory framework on the horizon.