Market cap data from cryptocurrency market tracking websites

Bitcoin Hits $103,000 as Trump Picks Pro-Crypto SEC Chair

Dec 5, 2024, 03:14 AM

Bitcoin surged past the $100,000 mark for the first time on Wednesday, trading at over $103,000, fueled by optimism over President-elect Donald Trump's pro-cryptocurrency stance and anticipated regulatory support. The world's largest cryptocurrency reached an all-time high nearly a month after Trump's election victory, extending a rally that began in early November. Investors are optimistic that the incoming administration will create a favorable regulatory environment for digital assets, potentially reshaping the cryptocurrency industry. Trump's reported selection of crypto-friendly Paul Atkins as a candidate to lead the Securities and Exchange Commission (SEC) has further bolstered market sentiment.