PakGazette– Bitcoin surpassed the critical $100,000 milestone on Friday, boosted by growing optimism surrounding the upcoming inauguration of US President-elect Donald Trump next week.
rose 2% to $101,372.1 at 01:01 a.m. (CET) (06:01 GMT).
Bitcoin Surpasses $100,000 on Expectations of Friendly Crypto Policies Under Trump
In the lead-up to President-elect Donald Trump’s inauguration on January 20, Bitcoin has seen a significant rise, recently reaching a record high of $108,244.
This upward trajectory is largely attributed to the anticipation of cryptocurrency-friendly policies under the incoming administration.
Trump is preparing to sign an executive order that makes cryptocurrencies a national policy priority and gives industry leaders a major role in shaping regulations, Bloomberg reported on Friday, citing sources.
Notably, the order may create a national Bitcoin reserve using the $20 billion in Bitcoin holdings confiscated by the government, according to the report.
Trump’s campaign promises, including the possible creation of a strategic reserve and the appointment of cryptocurrency advocates to key regulatory positions, have bolstered investor confidence in the digital asset.
The appointment of Paul Atkins, a well-known cryptocurrency advocate, as a potential chairman of the Securities and Exchange Commission (SEC) is particularly noteworthy.
Republican officials at the SEC are expected to begin reviewing the agency’s cryptocurrency policies, possibly as soon as next week, when Trump takes office, Reuters reported on Wednesday, citing sources.
Crypto Price Today: Most Altcoins Jump Following Bitcoin, Litecoin Surges 16%
In the broader cryptocurrency market, most altcoins rose much more than Bitcoin, reflecting greater risk sentiment.
The world’s No. 2 cryptocurrency gained 0.2% to $3,374.21.
The world’s No. 3 cryptocurrency jumped 8.7% to $3.0616.
rose 5% and rose 2.3%, while it rose 7.7%. Among meme tokens, they gained 2.7%.
rose 16% after rising more than 10% a day earlier, amid growing optimism over the possible approval of an LTC-focused exchange-traded fund (ETF).
The rally comes after Canary Capital amended its S-1 registration form with the SEC on January 15. Analysts see the amendment as an important step toward collaboration with regulators.
These filings often suggest that comments from regulators have been received, and the updates potentially offer insight into the review process.
If approved, the proposed ETF would make Litecoin the third cryptocurrency, alongside Bitcoin and Bitcoin, to secure a spot ETF approved in the US.
