Bitcoin price hits record high of $100,027 as Trump victory fuels crypto fever | Bitcoin

Bitcoin has surpassed $100,000 for the first time, hitting a new record high amid a euphoric rally sparked by Donald Trump’s election victory.

The world’s largest and most valuable cryptocurrency – vulnerable to volatile market rises and falls – has been buoyed in recent weeks by hopes that the president-elect’s return to the White House will usher in a new era of looser regulation and supportive policies.

On Wednesday, the cryptocurrency hit a new high of $100,027 per Bitcoin. It’s up 45% since Election Day. Other cryptocurrencies recorded similar gains. The price had previously risen to as much as $100,277.

“We are experiencing a paradigm shift. After four years of political purgatory, Bitcoin and the entire digital asset ecosystem are on the verge of entering the financial mainstream,” said Mike Novogratz, founder and CEO of US crypto firm Galaxy Digital.

“This momentum is driven by institutional adoption, advances in tokenization and payments, and a clearer regulatory path.”

Reaching a six-figure price is a significant milestone for Bitcoin. The digital currency was created in 2008 as strings of computer code with no physical form by a software developer under the pseudonym Satoshi Nakamoto, whose identity has not yet been confirmed.

Proponents have hailed the coin and the broader crypto space as the future of finance. However, the rise in valuation has been extraordinarily rocky, and predictions that it could become a mainstream alternative means of payment for goods and services have so far failed to come true.

“Bitcoin crossing $100,000 is more than just a milestone. It is evidence of the changing tide in finance, technology and geopolitics,” said Justin d’Anethan, a Hong Kong-based independent crypto analyst.

“The character that not long ago was dismissed as fantasy is reality.”

Trump, who once described Bitcoin as a “fraud,” changed his position during his last presidential run. During his campaign, he accused Democrats of launching an “un-American crackdown on cryptocurrencies” under Joe Biden and promised to keep Bitcoin mining, the ability of US citizens to hold crypto assets and transactions “free from government “Surveillance and Control”. Cryptocurrency advocates believe Trump will appoint a Securities and Exchange Commission head who is friendly to their industry.