Bitcoin Shatters $100,000: A New Era Under Trump's Crypto Vision?(Photo illustration by Chesnot/Getty Images)
(EPICSTORIAN) – Bitcoin soared past the highly anticipated $100,000 mark on Wednesday, driven by mounting optimism about a potential crypto boom under President-elect Donald Trump’s forthcoming administration.
This historic surge comes after Trump’s recent nomination of Paul Atkins as the new Securities and Exchange Commission (SEC) chair, signaling a potential shift in the regulatory landscape.
Atkins, a former SEC commissioner and a vocal advocate for cryptocurrency, is expected to adopt a lighter regulatory stance than current SEC chair Gary Gensler. Gensler, known for his stringent oversight and aggressive approach towards crypto firms, is set to step down on Inauguration Day.
Just hours after Atkins’ nomination was made public, Bitcoin hit the landmark figure, cementing a 130% gain for the year, far outpacing the S&P 500’s 28% growth.
The milestone builds on a post-election rally initiated on November 6 when Trump’s victory became clear. Bitcoin’s price jumped $6,000 in a single day, breaching the $74,000 barrier. Within days, the cryptocurrency climbed further to $90,000, eventually reaching its current record high, CNN found.
Trump’s evolving stance on crypto has played a crucial role in this resurgence, though he has surprisingly once been a cynic who called Bitcoin “not money” and trashy “highly volatile,” Trump has recently pivoted, aiming to appeal to younger voters with substantial crypto investments.
In July, he headlined the largest crypto conference in Nashville, where he promised to establish a “strategic national Bitcoin stockpile” and retain seized Bitcoin rather than auctioning it off. “If crypto is going to define the future, I want it mined, minted, and made in the USA,” Trump declared at the event.
In September, Trump doubled down on his commitment by launching World Liberty Financial, a cryptocurrency venture. He also made headlines by purchasing burgers from a Manhattan bar using Bitcoin, declaring the moment as “history in the making.” Adding to the excitement, Trump’s media company, which owns Truth Social, is reportedly in talks to acquire Bakkt, a crypto trading platform.
Bitcoin Challenges and Global Regulatory Landscape
Globally, cryptocurrency regulation remains a complex and evolving landscape. The European Union’s Markets in Crypto-Assets Regulation (MiCA), which took effect in 2024, aims to harmonize rules across member states, focusing on consumer protection and market stability.
Meanwhile, countries like Japan and Singapore lead with clear frameworks fostering innovation while maintaining oversight. However, China’s outright ban on crypto trading underscores the divergent global approaches.
In the U.S., the regulatory outlook could shift dramatically with Atkins at the helm. The crypto industry has long criticized the SEC’s inconsistent policies, particularly under Gensler’s leadership, which have stifled growth and prompted some firms to relocate overseas.
Atkins’ appointment signals a potential turning point, one that could align the U.S. more closely with countries fostering crypto-friendly environments.
