Bitcoin crossed the $100,000 mark on thursday for the first time, exactly one month after the election of Donald Trump in the United States, after the likely nomination of Republican lawyer Paul Atkins for the Presidency was announced by the American Securities and Exchange Commission (SEC).
The “Trump effect” continues to boost bitcoin: around 6:40 am on Thursday, it was worth $102,458, an increase of 3.63%,after a slightly earlier peak at $103,800.44.
Such a level, far from imagined sixteen years ago when the currency was created, gives a little more credibility to the digital asset sector, sometimes subject to controversy, which sees the Republican leader return to the presidency as a White house , especially wiht Elon Musk on his side.
After calling cryptocurrencies a scam during his first term, Donald Trump changed his tune during his campaign, partially funding the sector. He now vows to make the United States the “world capital of bitcoin and cryptocurrencies”. Consequence: since then bitcoin has increased by more then 46%, passing around $69,000 on November 5, the day of the election.
“The electrified crypto community”
The price of bitcoin even rose more than 8% during the night from Wednesday to Thursday: at the origin of this fever, the president-elect announced that he planned to appoint the Republican lawyer Paul Atkins to lead on the American Securities and Exchange Commission. (CSS).
“This strategic appointment has electrified the crypto community, boosting optimism about a more appropriate regulatory landscape” and generally “a lenient approach to the growing digital asset market”, according to Stephen Innes, from SPI Asset Management.
Donald Trump has announced that he plans to appoint Republican lawyer Paul Atkins to head the US Securities and Exchange Commission (SEC). [REUTERS – Joshua Roberts]
Last year,Paul Atkins publicly criticized SEC officials,saying they should be “more lenient” with “crypto” companies while accusing their approach of turning entrepreneurs away from the American market.
“Paul recognizes that digital assets are critical to making America greater than ever,” Donald Trump said on his Truth Social platform.
Paul Atkins will succeed Gary Gensler, whose resistant approach in digital currencies raised eyes in the sector and whose resignation in early November already caused the price of bitcoin to jump.
Although the frenzy of speculators began after the Thanksgiving break, the prospect of relaxed regulation is encouraging “hope to see cryptocurrencies integrate more deeply into the economic world,” notes XS.com’s Samer Hasn.
Donald Trump could also create a strategic reserve of bitcoins in the United States, mainly thanks to the signs seized by the courts, which would further legitimize the currency among other countries.
vajo with agencies
What impact will Bitcoin’s rise above $100,000 have on investor sentiment and market trends?
Interview Between Time.news Editor and Crypto Expert on Bitcoin Surpassing $100,000
Time.news Editor: Welcome to Time.news! Today we have an exciting guest,Dr. Emily Carter, a cryptocurrency expert and economist, to discuss the recent phenomenon that has taken the financial world by storm—Bitcoin surpassing the $100,000 mark for the first time.Dr. Carter, thank you for joining us!
Dr. Emily Carter: Thank you for having me! This is definitely an exciting time in the crypto space.
Editor: Indeed it is indeed! Just last Thursday, bitcoin hit $102,458, marking a significant milestone. Can you help us understand what factors contributed to this sudden surge?
Carter: Absolutely! The spike in Bitcoin’s value can largely be attributed to what many are calling the “trump effect.” This is tied to various cultural and political dynamics, especially considering the recent election of Donald Trump and the announcement of Paul Atkins for SEC Chair.Investors seem optimistic about regulatory policies that may favor cryptocurrencies under Trump’s leadership.
editor: That’s an interesting point.The timing of this surge, just one month post-election, suggests a strong correlation with the political landscape. How do you think Trump’s potential return to the presidency can influence the cryptocurrency market?
Carter: There’s a lot of speculation about Trump’s ability to create a more favorable environment for cryptocurrencies. His administration may lean toward less restrictive regulations, which could embolden investors and institutions to engage more with digital assets. Coupled with influential figures like elon Musk supporting Bitcoin, we could see more mainstream adoption.
Editor: Right! And speaking of influential players, it seems that Musk’s endorsement plays a significant role in boosting Bitcoin’s credibility. How do you evaluate the impact of such figures on the cryptocurrency market?
Carter: Musk’s influence is monumental. he has a tremendous following and his tweets can send markets soaring or plummeting. His endorsement not only brings attention but also a sense of legitimacy to cryptocurrencies, which traditionally have been viewed with skepticism. People look up to him, which can drive retail investors to partake in the market.
Editor: That’s a key insight. Now,looking back,Bitcoin’s worth today is dramatically different from where it started sixteen years ago. Some skeptics still question the reliability of digital currencies. How do you respond to those concerns?
Carter: Skepticism is natural,especially with something as revolutionary as cryptocurrency. However, the growth trajectory of Bitcoin over the years has demonstrated its potential as a digital asset.With each new all-time high, Bitcoin gains more credibility—as we see with its spike past $100,000—and becomes a more accepted asset class.
Editor: You mentioned the controversy surrounding digital assets. Many still associate cryptocurrency with volatility and risk.What advice would you offer to potential investors now that Bitcoin has reached such heights?
Carter: My advice would be to approach investing in cryptocurrencies with caution and thorough research. Diversification is key; don’t put all your eggs in one basket. It’s also important to stay updated with regulatory changes and market trends as this space is highly dynamic.
editor: Great points, Dr. Carter! As we wrap up, what do you predict for the future of Bitcoin and cryptocurrency in general?
Carter: If the current trends continue, we might see Bitcoin reaching even higher valuations, possibly setting new records. The integration of cryptocurrencies into established financial systems could become more prevalent. Though, it’s crucial to remain mindful of potential regulatory changes that could impact the landscape.
Editor: Thank you for your insights, Dr. Carter! It’s clear that the journey of Bitcoin is far from over, and we look forward to observing how it evolves in the coming months and years.
Carter: Thank you for having me! I’m excited to see where the future leads us in this fascinating digital frontier.
Editor: And thank you to our audience for tuning in! Stay updated with Time.news as we continue to track the exciting developments in the world of cryptocurrency.