Bitcoin’s price soared past $100,000 late Wednesday for the first time, capping a bull run that has driven the cryptocurrency’s value up by over 30% since the Nov. 5 U.S. presidential election.
The world’s largest cryptocurrency rose from around $68,000 on Election Day to a then-record $75,000 the day after the election.
Donald Trump’s victory over Vice President Kamala Harris boosted investor confidence, propelling Bitcoin to new all-time highs. At the time of publication, Bitcoin had reached $103,343.
During his campaign, Trump promised a pro-crypto regulatory framework, aiming to establish the U.S. as the “crypto capital of the planet.” Over the summer, he announced plans to form a crypto advisory board, further energizing the market.
Earlier on Wednesday, Trump appointed crypto advocate Paul Atkins to lead the Securities and Exchange Commission, fueling optimism for a more industry-friendly regulatory environment.
