Trump time’ for Bitcoin: How Donald Trump is sparking a crypto surge – India Today
Bitcoin surged past the $100,000 mark on Thursday, December 5, 2024, driven by optimism surrounding President-elect Donald Trump’s pro-cryptocurrency agenda. The landmark moment followed a sharp rise in the digital currency’s value, fueled by expectations of favorable regulations under the new administration.
Bitcoin has doubled its value this year, with a remarkable 45% gain in the past month alone. Trump’s election victory, alongside the rise of pro-crypto lawmakers in Congress, has bolstered hopes for a supportive crypto environment. Early Thursday, Bitcoin reached a record high of $100,277 before settling at $100,027 as of 0240 GMT, up 2.2% from the previous day.
Mike Novogratz, CEO of Galaxy Digital, called the milestone a “paradigm shift” for digital assets. He pointed to growing institutional adoption, advancements in tokenized payments, and clearer regulatory pathways as key drivers of Bitcoin’s success.
For many in the financial and tech sectors, this milestone marks Bitcoin’s journey from speculative asset to mainstream recognition. Justin D’Anethan, an independent crypto analyst, emphasized the symbolic importance of the achievement, saying, “This is not just a number. It signals a shift in global finance, technology, and politics.”
Trump’s campaign promises to make the U.S. the “crypto capital of the planet” have energized investors. His plan to establish a national reserve of Bitcoin and create a regulatory framework supportive of digital currencies has been welcomed by the industry.
On Wednesday, Trump announced his intention to nominate Paul Atkins, a known crypto advocate, as the next SEC chair. Atkins has played a significant role in shaping crypto policy, co-chairing the Token Alliance and supporting digital asset innovation.
With SEC Chair Gary Gensler stepping down in January, the crypto community anticipates a new era of regulatory clarity and growth. Major crypto-related stocks have also soared, reflecting market confidence in the sector’s future.
Bitcoin’s crossing of $100,000 is more than just a financial milestone—it’s a moment of validation for the cryptocurrency and its advocates. As Trump prepares to take office, the crypto industry looks forward to a potential golden age under his leadership.
#Bitcoin #CryptoRevolution #TrumpCrypto #DigitalAssets #CryptoNews