December 5, 2024: Bitcoin has reached a groundbreaking milestone, hitting an all-time high of $100,000, fueled by investor optimism and the growing belief in a more crypto-friendly regulatory environment under the incoming U.S. administration of President-elect Donald Trump. This significant rise comes as Bitcoin has more than doubled in value since the beginning of 2024, and surged by approximately 45% in the last four weeks following Trump's election victory.

At 02:40 GMT on Thursday, Bitcoin was trading at $100,027, reflecting a 2.2% increase from the previous session. The cryptocurrency had briefly surpassed $100,277 earlier in the day, marking an unprecedented moment in its history.

Edul Patel, CEO and Co-founder of Mudrex, attributed the rally to several key developments, including Trump’s pro-crypto policies, the appointment of Elon Musk as head of the newly established Department of Government Efficiency, and the anticipated appointment of Paul Atkins as the new Chair of the U.S. Securities and Exchange Commission (SEC). Patel predicts that with these changes, Bitcoin could continue its upward trajectory, potentially reaching $120,000 in the coming weeks.

A key factor behind Bitcoin's surge is the anticipation of significant policy changes under the Trump administration. During his campaign, Trump emphasized his goal to make the U.S. the “crypto capital of the planet” and proposed the creation of a national Bitcoin reserve. This move signals not only a personal commitment to digital assets but also a potential shift in the nation’s regulatory stance towards crypto.

Industry insiders are particularly hopeful that the new leadership will ease the stringent oversight under the current SEC Chair, Gary Gensler, known for his tough stance on cryptocurrency regulation. Trump has already pledged to nominate Paul Atkins, a former SEC commissioner and a known advocate for crypto-friendly policies, to lead the SEC. This shift is widely seen as a positive sign for the crypto sector, which has long advocated for clearer and more supportive regulation.

Mike Novogratz, CEO of crypto firm Galaxy Digital, remarked, “We’re witnessing a paradigm shift. Bitcoin and the entire digital asset ecosystem are on the verge of mainstream financial acceptance.” Novogratz’s comment reflects the broader sentiment within the crypto industry that the combination of favorable policies and broader institutional support will solidify Bitcoin's place in global finance.