Bitcoin (BTC) surged past the $100,000 mark on Thursday, achieving a historic milestone amid a market rally following the U.S. presidential election. Donald Trump’s victory, known for his pro-crypto stance, has fueled optimism in the digital asset space.
The rally gained further momentum after Trump nominated crypto-friendly lawyer Paul Atkins as the next Chair of the Securities and Exchange Commission (SEC), suggesting a possible shift toward more lenient crypto regulations.
BTC Hits All-Time High
Data from CoinGecko confirmed BTC reached an unprecedented high of $103,679. Often referred to as “digital gold,” Bitcoin’s price has climbed over 50% since November, coinciding with exit polls favoring Trump’s victory.
The six-figure milestone marks a critical point for Bitcoin, driven by improving market conditions, enhanced regulatory clarity in the U.S., and growing institutional interest through Bitcoin ETFs. Mike Novogratz, CEO of Galaxy Digital, described the current developments as a “paradigm shift.” He stated:
“After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream.”
Growing Optimism in the Crypto Market
Vishal Sacheendran, Head of Regional Markets at Binance, highlighted the increasing optimism in the crypto market. He emphasized that governments and institutions’ global adoption of blockchain technology is encouraging broader investment and participation in the digital asset ecosystem, signaling a maturing market poised for long-term growth.
ZebPay’s CEO Rahul Pagidipati also highlighted the increasing value of the crypto market, noting its growing influence on the global economy. He revealed that the total market capitalization of cryptocurrencies has now exceeded $3.5 trillion, with Bitcoin ranking among the top 10 most valuable assets worldwide, outperforming all commodities except gold and surpassing the valuations of many leading companies.
Global leaders also recognize the shift, as evidenced by Russian President Vladimir Putin’s remarks at an investment conference in Moscow. Putin reaffirmed his support for Bitcoin and other digital currencies, asserting that cryptocurrencies cannot be banned and will continue to evolve regardless of external challenges. The stance reinforces Russia’s commitment to greater crypto adoption.