Positive

From Investing.com: 2024-12-04 23:10:39

Bitcoin surged above $100,000 for the first time on Thursday following Trump’s election victory. The cryptocurrency has more than doubled in value this year and is up 45% since the election. Institutional adoption, advancements in tokenization, and a clearer regulatory path are driving momentum towards mainstream acceptance.

With Trump embracing digital assets during his campaign, promising to make the US the “crypto capital of the planet,” and appointing Paul Atkins, a former SEC commissioner involved in crypto policy, as SEC chair, the crypto industry is optimistic about a friendlier regulatory environment.

Crypto companies like Coinbase, Kraken, and Circle are vying for a spot on Trump’s planned crypto advisory council. Trump’s personal interest in the sector, demonstrated by his new crypto business World Liberty Financial, has investors bullish about the future of cryptocurrencies.

Billionaire Elon Musk, a major Trump ally, is also a proponent of cryptocurrencies. Bitcoin’s rapid rebound from below $16,000 in 2022 has been fueled by the approval of US-listed bitcoin exchange-traded funds, allowing more investors, including institutions, to gain exposure to bitcoin. Over $4 billion has poured into US-listed bitcoin ETFs since the election.



Read more at Investing.com: Bitcoin tops $100,000 on optimism over Trump crypto plans By Reuters