Bitcoin broke the $100,000 mark for the first time on Thursday, driven by Trump’s crypto-friendly policies, marking one of the most significant surges in cryptocurrency history.
Although it briefly peaked at $99,073, the world’s largest cryptocurrency reached this milestone during late afternoon US trading, fluctuating between $98,000 and $99,000 before crossing the $100,000 threshold.
Since the new year began, the value of Bitcoin has doubled in value. As a result of Trump’s election as US president and the election of some crypto-friendly members to Congress, its price has risen by about 40% in the previous two weeks.
During and after his bid for reelection as president of the United States, the current leader enthusiastically embraced digital assets, promising to make America the “crypto capital of the planet” and to put a small amount of bitcoin in the national treasure.
Besides Trump’s plan to replace US Securities and Exchange Commission Chair Gary Gensler, crypto investors are also driving Bitcoin because they are afraid of being monitored closely.
In September, Trump unveiled World Liberty Financial, a new cryptocurrency venture. While details about the company remain scarce, investors view it as a positive signal for a bullish trend in the cryptocurrency market. Trump continues to be a strong advocate for the growth of the cryptocurrency industry.
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