Bitcoin surged above the $100,000 milestone for the first time on Thursday, marking a historic moment for the cryptocurrency market. Even skeptics acknowledged the event as a pivotal step toward mainstream acceptance of digital assets.<\/p>\n\n\n\n
Investors are optimistic about a crypto-friendly U.S. administration solidifying the role of cryptocurrencies in global financial systems.<\/p>\n\n\n\n
The total market capitalization of cryptocurrencies has nearly doubled in 2024, reaching a record $3.8 trillion, according to CoinGecko. For context, this valuation rivals that of Apple, which is worth approximately $3.7 trillion.<\/p>\n\n\n\n
Bitcoin\u2019s rise from niche libertarian roots to a key player on Wall Street has minted countless millionaires, birthed a new asset class, and popularized decentralized finance (DeFi). Since its inception 16 years ago, Bitcoin has experienced volatility and controversy but has more than doubled in value this year alone.<\/p>\n\n\n\n
The cryptocurrency\u2019s meteoric rise gained further momentum following Donald Trump\u2019s re-election, which ushered in a wave of pro-crypto legislators. Bitcoin skyrocketed over 50% in the four weeks after his victory, breaking $100,000 during Asian trading hours on Thursday and reaching an all-time high of $103,619.<\/p>\n\n\n\n
Institutional Momentum and Regulatory Clarity<\/strong><\/p>\n\n\n\n Mike Novogratz, CEO of Galaxy Digital, described the surge as a \u201cparadigm shift.\u201d<\/p>\n\n\n\n \u201cBitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,\u201d Novogratz said. \u201cThis momentum is fuelled by institutional adoption, advancements in tokenization and payments, and a clearer regulatory path.\u201d<\/p>\n\n\n\n Trump\u2019s administration has pledged to position the United States as the global leader in crypto innovation. Campaign promises included building a national Bitcoin stockpile and establishing a robust regulatory framework for digital assets.<\/p>\n\n\n\n New Faces, New Opportunities<\/strong><\/p>\n\n\n\n Trump\u2019s nomination of Paul Atkins to head the Securities and Exchange Commission (SEC) has further buoyed crypto markets. Atkins, a former SEC commissioner and co-chair of the Token Alliance, is seen as a key ally in shaping favorable crypto policies.<\/p>\n\n\n\n Kristin Smith, CEO of the Blockchain Association, praised the move, stating:<\/p>\n\n\n\n \u201cAtkins will offer a new perspective, anchored by a deep understanding of the digital asset ecosystem. We look forward to working with him … and ushering in \u2013 together \u2013 a new wave of American crypto innovation.\u201d<\/p>\n\n\n\n Major crypto firms like Ripple, Kraken, and Circle are vying for influence on Trump\u2019s proposed crypto advisory council, highlighting the industry\u2019s growing integration into policymaking.<\/p>\n\n\n\n A Booming Ecosystem<\/strong><\/p>\n\n\n\n Bitcoin\u2019s trajectory reflects growing institutional interest and broader acceptance of cryptocurrencies as legitimate financial tools. Joe McCann, CEO of digital assets hedge fund Asymmetric, observed a shift in market dynamics post-election:<\/p>\n\n\n\n \u201cWe were trading basically sideways for about seven months, then immediately after Nov. 5, U.S. investors resumed buying hand-over-fist.\u201d<\/p>\n\n\n\n As Bitcoin stabilizes above the $100,000 mark, the crypto sector appears poised for its most transformative era yet. With a pro-crypto administration and increasing global adoption, the road ahead could redefine finance as we know it.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin surged above the $100,000 milestone for the first time on Thursday, marking a historic moment for the cryptocurrency market. Even skeptics acknowledged the event as a pivotal step toward mainstream acceptance of digital assets. Investors are optimistic about a crypto-friendly U.S. administration solidifying the role of cryptocurrencies in global financial systems. The total market […]<\/p>\n","protected":false},"author":1,"featured_media":647,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23,18],"tags":[],"class_list":["post-646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-news","category-technology"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=646"}],"version-history":[{"count":1,"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/646\/revisions"}],"predecessor-version":[{"id":648,"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/646\/revisions\/648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=\/wp\/v2\/media\/647"}],"wp:attachment":[{"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kilobytespot.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}