Bitcoin has surged above $100,000 for the first time, marking a significant milestone in the digital asset market. The rise is attributed to optimistic views on the U.S. administration's stance towards cryptocurrencies and the nomination of pro-crypto Paul Atkins to lead the SEC. The total cryptocurrency market value has nearly doubled this year, reaching over $3.8 trillion.
Bitcoin catapulted above $100,000 for the first time on Thursday, a milestone hailed even by sceptics as a coming-of-age for digital assets as investors bet on a friendly U.S. administration to cement the place of cryptocurrencies in financial markets.Once it broke $100,000 in Thursday's Asian morning, boosted by U.S. President-elect Trump's nomination of pro-crypto Paul Atkins to run the Sec urities and Exchange Commission, it was soon at an all-time high of $103,649.
-listed bitcoin exchange-traded funds were approved in January and have been a conduit for large-scale buying, with more than $4 billion streaming into these funds since the election."Roughly 3% of the total supply of bitcoins that will ever exist have been purchased in 2024 by institutional money," said Geoff Kendrick, global head of digital assets research at Standard Chartered."Digital assets, as an asset class, is becoming normalised," he said.
BITCOIN CRYPTOCURRENCY SEC WALL STREET SECURITIES AND EXCHANGE COMMISSION TRUMP ADMINISTRATION
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