Bitcoin touches $100,000 for first time amid optimism for Donald Trump's pro-crypto administration

Bitcoin has achieved a historic milestone by surpassing $100,000 for the first time, driven by market optimism regarding President-elect Donald Trump's pro-cryptocurrency agenda. Bitcoin peaked at $100,277 earlier in the day.

This milestone signifies Bitcoin's growing acceptance in the financial mainstream, over 16 years after its inception. In 2023 alone, Bitcoin's value has more than doubled, with a 45 per cent surge in the month following Trump's election. Crypto investors are hopeful that Trump's policies will reduce regulatory barriers and boost institutional adoption.

During his campaign, Trump pledged to make the US a global hub for cryptocurrencies, promising to build a national Bitcoin reserve and establish policies to promote blockchain innovation. His victory has also brought pro-crypto lawmakers into Congress, supporting this vision.

Trump plans to nominate Paul Atkins, a former SEC commissioner and crypto advocate, as the next SEC Chair. Atkins' previous involvement with the Token Alliance and the Chamber of Digital Commerce indicates a shift towards favourable crypto regulations. Outgoing SEC Chair Gary Gensler, known for his scepticism towards digital assets, will step down in January.

Institutional confidence in Bitcoin is rising. U.S.-listed Bitcoin ETFs have attracted over $4 billion in investments since the election, with $676 million added in a single day this week. Analysts predict Bitcoin could rise further, potentially reaching $120,000 in the coming weeks.

Sumit Gupta, Co-founder of CoinDCX, stated “This milestone is about more than just the price—it symbolises Bitcoin’s resilience and adoption. It’s a psychological breakthrough that will push institutions, companies, and governments to take Bitcoin seriously as a stable asset class.”

Balaji Srihari, Business Head, CoinSwitch said, "Over the past month alone, BTC has surged by 50%, with its market cap crossing the $2 trillion threshold and delivering 144% year-to-date (YTD) return. Riding this wave of optimism, other tokens have also gained significant traction—SOL and XRP have hit an all-time high."

Edul Patel, Mudrex Co-founder said, “Trump’s election and the nomination of Paul Atkins have strengthened the market’s belief in crypto-friendly reforms. This milestone will attract more retail investors and drive Bitcoin’s mainstream adoption.”

Mohammed Roshan Aslam, GoSats CEO said, “Breaking the $100,000 barrier is significant, but sustaining growth will depend on regulatory clarity and strategic policy reforms. Bitcoin needs global support to create lasting value and avoid sell-offs during market turbulence.”

Himanshu Maradiya, Chairman and Founder, CIFDAQ said, “For investors, the spotlight now shifts to long-term planning: keeping an eye on market cycles, diversifying portfolios, and staying updated on regulatory shifts. While this breakthrough fuels optimism, it’s important to tread carefully—volatility remains part of the game."

Adding to market enthusiasm is Trump's personal involvement in the sector. In September, he launched a crypto venture, World Liberty Financial. While details are limited, the announcement has bolstered confidence in his commitment to the industry.

Furthermore, Trump's social media company, Truth Social, is reportedly in advanced talks to acquire the crypto trading platform Bakkt. If finalised, the acquisition could enhance his influence over the sector.

Bitcoin's rapid recovery from its 2022 lows of under $16,000 has been driven by key developments, including the approval of US-listed Bitcoin ETFs earlier this year. These funds have made Bitcoin more accessible to institutional investors, adding momentum to its price rally. The market now awaits the Trump administration's official crypto policies and potential global adoption.