Bitcoin reached a historic milestone, trading at $102,388.46 and hitting a peak of $103,047.71 by 8:55 a.m., according to Coinmarketcap. This surge boosted its market capitalization by 6.84 percent to $2.03 trillion. The rise comes after years of volatility, including a 2022 low of $16,000, defying predictions of a “bubble burst” and marking over 16 years since its inception.
Mike Novogratz, CEO of Galaxy Digital, described the moment as a “paradigm shift” for digital assets. He credited the momentum to clearer regulations, advancements in tokenization and payments, and increasing institutional adoption, positioning bitcoin closer to mainstream financial integration. Trump’s support for cryptocurrencies during his campaign further fueled optimism, with promises to make the U.S. a global crypto hub and accumulate a national bitcoin reserve. His business venture, World Liberty Financial, launched in September, reflects his active engagement in the sector.
The market anticipates reduced scrutiny from the U.S. Securities and Exchange Commission, as its chair, Gary Gensler, announced plans to step down in January with Trump’s presidency. This shift is expected to create a more favorable environment for cryptocurrency development and adoption, bolstering investor confidence in the industry’s future. Bitcoin’s ascent reflects growing acceptance despite years of skepticism and controversy.
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