Official policy statements from the US government or Treasury

Bitcoin Surges Near $100K With 40% Monthly Rise Amid Trump’s Pro-Crypto Shift

Nov 26, 2024, 07:31 PM

Bitcoin has recently surged to unprecedented levels, nearing the $100,000 milestone before retreating slightly. The cryptocurrency peaked at $99,700 on Friday, just $300 short of six figures, before dropping to $95,776 over the weekend and rebounding to $98,065 by Monday morning. This surge, representing a 40% increase in value this month, comes amid growing momentum in the cryptocurrency market and a notable shift in U.S. policy under Donald Trump’s administration. Trump has aligned himself with pro-crypto figures such as Howard Lutnick and Scott Bessent, signaling a potential pivot in Washington’s stance on digital assets. Discussions of appointing a “crypto czar” to the White House further underscore this shift. Senator Cynthia Lummis has also advocated for replacing gold with Bitcoin as a store of value, adding to the ongoing debate about Bitcoin’s role in the global financial system. Trump’s policies are set to shake things up in January, potentially reshaping the regulatory landscape for cryptocurrencies.