It has finally happened! Bitcoin price has finally crossed the $100,000 since it launched more than 10 years ago. As of this writing, it is $102,800; however it has reached an all time-high of $103,600.
Bitcoin surged in value after Donald Trump’s victory in the 2024 US Presidential Election. On Election Day, Bitcoin was priced at approximately $69,000 but jumped to $75,000 once Trump’s win was announced, according to CoinDesk. The cryptocurrency has continued to climb as investors anticipate a more favorable climate for crypto under the Trump administration.
Bitcoin’s breakthrough past the $100k milestone came shortly after Donald Trump announced key nominations for his administration, including former Republican SEC Commissioner Paul Atkins as his pick to lead the agency. Atkins, who co-chaired the Chamber of Digital Commerce’s Token Alliance, was praised by Trump for understanding that “digital assets and other innovations are vital to Making America Greater than Ever Before.”
Additional factors also fueled Bitcoin’s surge, such as the launch of options trading on BlackRock’s Bitcoin exchange-traded fund, which saw an impressive $1.9 billion in trading volume on its first day.
Donald Trump, once a vocal critic of digital currencies, emerged as a strong advocate, vowing to transform the United States into “the crypto capital of the world.” He pledged to create a strategic Bitcoin reserve, signaling a commitment to integrating cryptocurrency into the country’s financial system. His campaign embraced cryptocurrency donations, and he strengthened ties with the crypto community by attending a major Bitcoin conference earlier this year. Moreover, Trump has launched a new family venture, World Liberty Financial, dedicated to trading digital assets.
