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President-elect Donald Trump Congratulates Bitcoin Holders On Surpassing $100K

Key Points:

Bitcoin has surged past $100,000, driven by optimism around President-elect Donald Trump’s pro-crypto stance and regulatory signals.
Trump plans to nominate cryptocurrency advocate Paul Atkins as SEC chair, while Fed Chair Jerome Powell called Bitcoin a competitor to gold.

Bitcoin has surged past $100,000 in a big rally for the world’s most popular cryptocurrency, triggered by President-elect Donald Trump and upbeat comments from Federal Reserve Chairman Jerome Powell.

President-elect Donald Trump Congratulates Bitcoin Holders

“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” Trump exclaimed.

President-elect Donald Trump has further cemented investor confidence, signalling a pro-crypto regulatory approach with his announcement of plans to nominate cryptocurrency advocate Paul Atkins as the next chair of the Securities and Exchange Commission.

Trump’s dream of making the United States “the crypto capital of the planet” has been a significant driver behind Bitcoin’s astonishing run, which has seen the digital asset surge by more than 130% this year. Adding to the optimism, Powell referred to Bitcoin as a rival to gold, not a threat to fiat currencies such as the US dollar, further cementing its status as digital gold.

Cryptocurrencies Expand Despite Volatility

In light of all this excitement, experts caution that the price of Bitcoin is typically erratic and driven by macroeconomic conditions. Although Bitcoin is the biggest cryptocurrency, there are several others that have gained fame in the financial world, like Ethereum, Tether, and Dogecoin.

Most transactions related to day-to-day finances still involve some form of money in fiat currencies outside the small minority of investors who regard Bitcoin as a hedge. Nevertheless, the asset is making steady progress into broader roles in the global economy as more institutional interest and clarity in regulations develop.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.