Key Points
- Today, Bitcoin reached a brand new ATH above $103,000, marking the debut of a brand new golden age for crypto.
- On December 4, Donald Trump formally nominated pro-BTC and crypto Paul Atkins as the following SEC Chair.
December 5 will probably be remembered because the day when Bitcoin surpassed the essential milestone of $100,000. Bitcoin’s rally was fueled by a number of components, together with optimism stemming from the brand new upcoming Trump administration within the US.
Bitcoin Breaks a New ATH Above $103,000
Earlier at the moment, Bitcoin broke a brand new all-time excessive, surpassing $103,000. Now, BTC is buying and selling above $102,000, and the digital asset has a market cap of over $2.03 trillion.
BTC reached a market cap of $2.05 trillion, making ready to dethrone Google’s market cap of $2.1 trillion and changing into the sixth asset by market cap on the planet.
BTC’s worth rally has been largely fueled by optimism flooding the crypto trade after Donald Trump introduced his new decide for the US SEC Chair.
Trump Nominates Paul Atkins as Next SEC Chair
Yesterday, Trump introduced the nomination of Paul Atkins to be the following Chairman of the US SEC. The US President stated that Atkins is a confirmed chief for widespread sense laws, who believes within the following core rules:
- Robust, revolutionary capital markets, aware of investor wants
- Markets that present capital to make the US economic system the perfect on the planet
- Recognition of digital property and different improvements as essential components to make America higher than ever earlier than
Atkins will change the earlier SEC Chair, Gary Gensler, whose insurance policies have been extraordinarily tough on crypto, suffocating innovation and robust growth within the trade.
Yesterday additionally marked the day wherein the US Fed Chair, Jerome Powell, praised Bitcoin.
Powell: “Bitcoin is Like Gold, It’s Just Virtual and Digital”
The US Federal Reserve Chair, Jerome Powell, addressed Bitcoin on the DealBook Summit on Wednesday, asserting that the digital asset is extra like gold than the US greenback.
He stated that individuals use Bitcoin as a speculative asset which is like gold, however digital and digital.
As quoted by Benzinga, Powell dispelled notions that Bitcoin undermines the Fed or the power of the US greenback, highlighting that the digital asset isn’t used as a main type of fee or as a dependable retailer of worth as a consequence of its excessive volatility.
Powell stated that BTC isn’t a competitor for the US greenback, and it’s actually a competitor for gold.
He was additionally requested a few potential nationwide Bitcoin reserve and he highlighted the Fed’s goal of protecting the banking system secure and sound. He identified the Fed’s accountability to manage the crypto trade.
The total crypto sector is celebrating Bitcoin’s essential breakthrough, hoping for the perfect sooner or later.
The Crypto Industry Celebrates Bitcoin’s $100K Milestone
Binance’s CEO, Richard Teng, shared a submit through X, saying that BTC’s rise to $100,000 is greater than only a monetary milestone, it’s a testomony to how daring concepts can come to life and form the way forward for the digital age.
Teng stated that every milestone represents a step in direction of a stronger and extra sustainable ecosystem, one thing that everybody can have fun collectively. Binance’s CEO suggested the trade to proceed constructing, as there may be far more to realize.
Binance’s co-founder, Yi He, additionally shared a message on X, saying she is thrilled to see BTC surpassing $100,000. She highlighted the collective efforts and dedication of the crypto group, saying that each participant on this journey has performed an important function in shaping at the moment’s crypto sector.
She thanked everybody for his or her sturdy help for Binance, highlighting the necessity to hold constructing, HODLing, and dealing collectively in direction of the following period of development within the cyrpto world.
Earlier at the moment, Elon Musk praised El Salvador’s President, Nayib Bukele’s “spectacular” initiative to create a Bitcoin reserve for his nation after he shared a photograph of the nation’s portfolio.
As we not too long ago reported, the US additionally plans a number of Strategic Bitcoin Reserves for its states, together with different international locations on the planet.
Bitcoin surpassing the $100,000 milestone will most likely gas belief for extra nations to begin seeing the digital asset as a hedge in opposition to inflation and a digital model of gold.
Why Did Bitcoin Reach $100,000?
Beyond favorable insurance policies surrounding crypto, past the metrics, accumulation, and the launch of all associated crypto merchandise, together with BTC ETFs, Bitcoin continues to surge due to what it represents.
Bitcoin stands for resilience, hope, freedom, sovereignty, and unity constructed on religion in a greater world.
It embodies a robust group united within the pursuit of peace, prosperity, the protection of freedom, and the preservation of what’s proper and true, no matter its volatility which merely displays the human nature of sentiments.
Bitcoin shelters folks from disaster and its rising worth displays a rising world consciousness of the reward that Satoshi Nakamoto supplied humanity.
It taught folks to imagine in one thing, maintain on to this perception, and combat for it, even when the battle is in opposition to sturdy oppressive currents.
Bitcoin is hope and extra folks acknowledge its significance and are prepared to face up for basic rights and freedoms, preserving core values that underpin human dignity.
