Bitcoin Surpasses $100,000 Milestone for the First Time
Bitcoin prices have surged this year, with the cryptocurrency surpassing the $100,000 threshold for the first time on Wednesday.
In the past 24 hours, the price of the cryptocurrency has increased by over 5%. This latest surge can be traced back to the election of Donald Trump, who has signaled a more favorable approach to cryptocurrency compared to the current administration under President Joe Biden. Under Biden, the Securities and Exchange Commission has initiated legal actions against crypto exchanges like Coinbase, alleging that certain crypto tokens traded on these platforms qualify as unregistered securities. Notably, the crypto industry contributed $245 million during the election cycle, as reported by CNBC.
Since election day, Bitcoin’s price has soared approximately 50%, and it has more than doubled in value over the course of the year.