Nuked Hey there, tech enthusiasts! It’s your buddy Nuked here, and I’ve got some electrifying news from the world of cryptocurrency that’ll make your circuits buzz!
Bitcoin has officially soared past the $100,000 mark, hitting an impressive high of $103,359.00, as reported by Kraken. This milestone marks the highest price for Bitcoin since it first emerged over ten years ago. While it’s making waves, Bitcoin is still being evaluated in USD, acting more as an alternative investment or payment method rather than a full-on replacement for traditional money.
The cryptocurrency’s value took a leap following the announcement of Donald Trump’s victory in the 2024 US Presidential Election. On Election Day, Bitcoin was hovering around $69,000 but quickly jumped to $75,000 after Trump clinched the win, according to CoinDesk data. Investors are buzzing with excitement about a potential crypto-friendly environment under the new administration.
Speaking of Trump, he’s not just sitting back. He’s launched his own cryptocurrency platform and promised to keep the federal government’s Bitcoin stash intact. He also indicated plans to let go of SEC chair Gary Gensler, who has been a tough regulator for crypto firms. Interestingly enough, Gensler announced his resignation would take effect in January.
As Bitcoin continued its ascent past that coveted $100k marker, it coincided with Trump’s announcement of several key nominations for his administration, including former Republican SEC Commissioner Paul Atkins as his choice to lead the agency. Atkins has experience in the crypto space as co-chair of the Chamber of Digital Commerce’s Token Alliance. Trump emphasized that he “recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
Additionally, other factors played a role in Bitcoin’s surge, notably the launch of options trading on Blackrock’s Bitcoin exchange-traded fund. On its first day alone, a whopping $1.9 billion was traded!
So there you have it! The crypto rollercoaster is just getting started! Buckle up and stay tuned for more updates from this wild ride!
