Bitcoin Hits $100,000 as Trump’s Pro-Crypto Picks Signal a New Era for Digital Currency
Bitcoin has shattered previous records, reaching an all-time high of $100,000, as President-elect Donald Trump announced a series of administration appointments that signal a major shift in U.S. cryptocurrency policy. The milestone underscores the growing influence of digital currencies and the potential for a more favorable regulatory landscape under Trump’s leadership.
The Role of Paul Atkins: A Crypto Ally at the Helm of the SEC
At the center of this seismic shift is Paul Atkins, a former SEC commissioner and long-time cryptocurrency advocate. Set to head the Securities and Exchange Commission (SEC), Atkins is expected to take a more industry-friendly approach compared to his predecessor, Gary Gensler.
Gensler’s tenure has been marked by regulatory crackdowns, with the SEC pursuing legal actions against major crypto firms and imposing stringent rules on digital asset trading. Under Atkins, the SEC is likely to embrace policies aimed at fostering innovation and reducing barriers for cryptocurrency businesses.
"Paul Atkins is a game-changer for the crypto industry," said Anthony Pompliano, a well-known crypto investor. "His appointment marks a turning point in how digital assets will be regulated in the U.S."
Bitcoin’s surge to $100,000 came just hours after Trump’s announcement of Atkins’ nomination, reinforcing market optimism for a crypto-friendly administration.
A Meteoric Rally: Bitcoin’s Path to $100,000
The journey to $100,000 began on November 6, when Trump was projected to win reelection. That day, bitcoin experienced a $6,000 surge, breaking the $74,000 barrier. The momentum continued as investor confidence grew in anticipation of Trump’s crypto-friendly policies.
By mid-November, bitcoin had surpassed $90,000, fueled by speculation and market enthusiasm over Trump’s evolving stance on cryptocurrency. The $100,000 milestone cements bitcoin’s status as a premier investment asset, outperforming traditional financial markets.
Trump’s Transformation: From Crypto Skeptic to Advocate
Trump’s relationship with cryptocurrency has undergone a dramatic transformation. Once a vocal critic, he dismissed bitcoin as “not money” and derided it as “highly volatile and based on thin air.”
However, as Trump ramped up his reelection campaign, his rhetoric shifted. Recognizing the growing influence of cryptocurrency among younger voters, Trump began championing digital assets as a cornerstone of the future U.S. economy.
In July, he headlined the largest cryptocurrency convention in Nashville, where he unveiled plans to create a “strategic national bitcoin stockpile.” He also pledged to retain bitcoin seized in criminal investigations rather than auctioning it off.
“If crypto is going to define the future, I want it to be mined, minted, and made in the USA,” Trump declared.
Crypto Ventures and Strategic Moves
Trump’s embrace of cryptocurrency extends beyond policy. In September, he launched World Liberty Financial, a blockchain-based financial services company. Shortly after, he made headlines by purchasing burgers at a Manhattan bar using bitcoin, a symbolic gesture that further endeared him to the crypto community.
Trump’s media company, which operates Truth Social, is reportedly in talks to acquire Bakkt, a leading crypto trading forum. This move would solidify his presence in the digital currency space and align with his broader vision of integrating crypto into mainstream financial systems.
A New Era for U.S. Cryptocurrency Policy
The cryptocurrency industry has thrown its weight behind Trump’s presidency. Leading super PACs contributed over $131 million to Republican candidates during the election cycle, aiming to secure a favorable regulatory environment for digital assets.
Trump’s administration appears poised to deliver. Beyond Atkins, Trump has floated the idea of creating a dedicated White House position for crypto policy. He’s also considering appointing Howard Lutnick, CEO of Cantor Fitzgerald and a vocal supporter of stablecoins, to a senior advisory role.
Related: Bitcoin Surges After Trump Picks Paul Atkins to Head SEC
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Market Optimism vs. Skepticism
While the crypto community celebrates the newfound political support, skepticism persists among traditional financial regulators. Federal Reserve Chair Jerome Powell recently referred to bitcoin as “a speculative asset” and likened it to gold rather than a direct competitor to fiat currencies.
Despite these reservations, industry leaders remain optimistic. “Bitcoin at $100,000 is just the beginning,” said Pompliano. “We’re entering a new era where digital assets will reshape the financial landscape.”
What Lies Ahead?
With bitcoin achieving historic highs and Trump’s administration signaling a pro-crypto agenda, the future of digital currency in the U.S. looks brighter than ever. The market is buzzing with anticipation for further milestones, with some analysts predicting bitcoin could reach $1 million within the next decade.
As Trump prepares to take office, the stage is set for a transformative chapter in cryptocurrency history—one that could redefine the industry’s global standing and reshape how digital assets are perceived and regulated.
