Bitcoin Surpasses $100,000 After Trump’s Move

(Dan Tri) - Bitcoin price has surpassed the psychological mark of 100,000 USD, bringing market capitalization to more than 2,000 billion USD.

According to data from CoinMarketCap , the price of bitcoin on the morning of December 5 (Vietnam time) surpassed the $100,000 mark for the first time. Bitcoin's rise has not stopped and has advanced to the $103,000 mark.

Since the beginning of the year, the price of bitcoin has increased by 130% and nearly 50% since the US presidential election ended with the victory of Mr. Donald Trump.

Market capitalization reached $2,000 billion just 15 years after its inception. This currency is ranked 7th globally in terms of capitalization, only behind gold and large technology companies such as Apple, Nvidia, Microsoft, Amazon and Alphabet.

According to CNBC , Bitcoin’s breakout came after President Trump announced plans to nominate Paul Atkins to replace Gary Gensler as chairman of the Securities and Exchange Commission (SEC). This change in the leadership of the securities regulator was part of Trump’s campaign promise.

On the same day, US Federal Reserve Chairman Jerome Powell unexpectedly commented that bitcoin is like gold but it is a virtual asset, it is digital" at the DealBook conference. The head of the Fed also said that bitcoin is not a rival to the USD but will make precious metals wary.

Bitcoin price has surpassed the psychological mark of $100,000 (Photo: Binance).

This year’s bitcoin boom has been led by spot exchange-traded funds (ETFs) approved earlier this year by asset management giants including BlackRock and Fidelity. These products have been wildly successful, managing about $30 billion in less than a year.

Despite the success of ETFs, bitcoin prices then stagnated for much of this year, in part due to regulatory uncertainty surrounding the US presidential election.

However, the early November election of crypto-friendly President-elect Donald Trump sparked a new rally, with BTC quickly reaching a high of $80,000, then $90,000, and today it has surpassed $100,000.

Source: https://dantri.com.vn/kinh-doanh/bitcoin-vuot-100000-usd-sau-dong-thai-cua-tong-thong-trump-20241205120547901.htm