Bitcoin has surpassed the $100,000 mark, riding a surge of investor confidence fuelled by US President-elect Donald Trump’s pro-crypto stance.
The world’s largest cryptocurrency rose to $103,800 on Thursday, representing a 50% increase since Trump’s November election victory.
The rally gained momentum after Trump named cryptocurrency advocate Paul Atkins to chair the Securities and Exchange Commission (SEC), indicating a shift towards a more favourable regulatory climate.
Atkins’ appointment, combined with Trump’s promise to make the United States “the bitcoin superpower of the world,” has energised the market.
“Bitcoin reaching $100k is an incredible milestone for our movement,” said Kris Marszalek, CEO of Crypto.com. “We never doubted. We never wavered. And we will never stop building.”
Trump’s crypto-friendly government has also appointed Howard Lutnick to the Commerce Department and Elon Musk to co-lead the “Department of Government Efficiency,” called “DOGE” after the popular cryptocurrency Dogecoin, which has increased by 150 percent since election day.
According to the Financial Times on Thursday, this gain contrasts sharply with the sector’s slump two years ago, when FTX collapsed and regulatory crackdowns drove Bitcoin falling below $16,000.
Now, institutional money is pouring in, with BlackRock’s Bitcoin ETF alone managing $45 billion in assets.
Cameron Winklevoss, co-founder of Gemini, summarised the sentiment: “This bitcoin bull run is unique. We have a pro-technology president-elect, a red Senate and House, and a national mandate to create.”
With $4.4 billion invested in crypto ETFs since November and companies such as MicroStrategy planning to raise $42 billion for additional Bitcoin investments, economists foresee a “golden era” for digital assets under the new administration.
Earlier in November, Bitcoin had surpassed the $80,000 mark, reaching an all-time high of $81,858 amid post-election excitement in the United States, as pro-crypto legislation appeared more possible under Trump.
Just three days later, the world’s largest cryptocurrency hit a new high above $90,000.
Meanwhile, a check by Chronicle NG at 5:33 am on Coin Market Cap showed the coin at $102,724.32, up more than 7% in the last 24 hours.
Notably, Trump’s previous administration was highly sceptical about digital currencies, but the president-elect has subsequently embraced crypto, promising to make the US the “crypto capital of the planet.”
According to CNBC, Trump threatened to retain “100 percent of all Bitcoin that the US government currently holds or acquires in the future” and to fire SEC Chair Gary Gensler, whose tenure included over 100 regulatory actions against crypto businesses.
![Is Anthony Odiong still a priest after life in prison sentence over rape? Rev. Fr. Anthony Odiong, a US-based Nigerian Louisiana Catholic priest, was arrested in Florida on Tuesday for possessing child pornography, according to law authorities. The suspect is reportedly accused of many other cases of sexual assault. The Waco, Texas, Police Department announced in a Facebook post on Tuesday that officers detained Father Anthony Odiong in Ave Maria, Florida, with assistance from the United States Marshals Service. Waco police announced in March that they had received "credible information" about a sexual assault allegedly committed by Odiong in Texas in 2012. “During the subsequent investigation, a case of possession of child pornography was uncovered,” the police said. The priest was apprehended in Florida by the Caribbean Regional Fugitive Task Force. The Waco Police Department said that he will be extradited to Texas. Odiong had previously served in the Archdiocese of New Orleans before being removed as priest in December of last year due to controversy over homilies in which he claimed, among other things, that the Catholic Church was being taken over by "the gays." At the time, the priest was also accused of abusive behaviour; a Louisiana lady claimed in U.S. bankruptcy court that Odiong had committed both financial and sexual abuse against her. Prior to joining the New Orleans Archdiocese, Odiong served in at least two Texas parishes. On Tuesday, Waco police stated that during their sexual assault investigation, "the presence of other survivors was revealed." “Multiple women have come forward to tell similar experiences as the sexual assault survivor who reported the initial allegation,” the police department said. “Survivors’ experiences ranged from sexual assault and indecent assault, more commonly recognised as groping, and financial abuse, with some survivors experiencing every element of Anthony Odiong’s manipulation.” The police said they “believe there may be more survivors, and we wish to speak with anyone who [has] had similar encounters” with the priest. The Archdiocese of New Orleans issued a brief news release on Tuesday noting Odiong's arrest in Florida. The archdiocese “encourages anyone with any information to contact law enforcement,” the release said.](https://chronicle.ng/wp-content/uploads/2024/08/ezgif-6-4730550ede-300x200.jpg)


![Is Anthony Odiong still a priest after life in prison sentence over rape? Rev. Fr. Anthony Odiong, a US-based Nigerian Louisiana Catholic priest, was arrested in Florida on Tuesday for possessing child pornography, according to law authorities. The suspect is reportedly accused of many other cases of sexual assault. The Waco, Texas, Police Department announced in a Facebook post on Tuesday that officers detained Father Anthony Odiong in Ave Maria, Florida, with assistance from the United States Marshals Service. Waco police announced in March that they had received "credible information" about a sexual assault allegedly committed by Odiong in Texas in 2012. “During the subsequent investigation, a case of possession of child pornography was uncovered,” the police said. The priest was apprehended in Florida by the Caribbean Regional Fugitive Task Force. The Waco Police Department said that he will be extradited to Texas. Odiong had previously served in the Archdiocese of New Orleans before being removed as priest in December of last year due to controversy over homilies in which he claimed, among other things, that the Catholic Church was being taken over by "the gays." At the time, the priest was also accused of abusive behaviour; a Louisiana lady claimed in U.S. bankruptcy court that Odiong had committed both financial and sexual abuse against her. Prior to joining the New Orleans Archdiocese, Odiong served in at least two Texas parishes. On Tuesday, Waco police stated that during their sexual assault investigation, "the presence of other survivors was revealed." “Multiple women have come forward to tell similar experiences as the sexual assault survivor who reported the initial allegation,” the police department said. “Survivors’ experiences ranged from sexual assault and indecent assault, more commonly recognised as groping, and financial abuse, with some survivors experiencing every element of Anthony Odiong’s manipulation.” The police said they “believe there may be more survivors, and we wish to speak with anyone who [has] had similar encounters” with the priest. The Archdiocese of New Orleans issued a brief news release on Tuesday noting Odiong's arrest in Florida. The archdiocese “encourages anyone with any information to contact law enforcement,” the release said.](https://chronicle.ng/wp-content/uploads/2024/08/ezgif-6-4730550ede-450x300.jpg)



