President-Elect Trump’s Message To Bitcoin Holders: Congratulations On Reaching $100,000

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As a seasoned researcher with years of experience tracking financial markets and their dynamics, I find myself both intrigued and amused by the latest developments surrounding Bitcoin. Having witnessed the rise and fall of numerous asset classes, it’s fascinating to see a digital currency like Bitcoin surpassing the $100,000 milestone and outperforming many established companies and even some national government bond markets.

As a crypto investor, it was thrilling to witness the historic breakthrough when the value of Bitcoin exceeded $100,000 for the very first time. And what made this achievement even more momentous was the fact that President-elect Donald Trump, who has been vocal about his support for cryptocurrencies, took to social media to extend his congratulations to all of us in the crypto community on reaching this significant milestone.

Bitcoin Price Surpasses $100,000

On Truth Social, Trump posted enthusiastically, saying, “KUDOS TO ALL THE BITCOIN HOLDERS! $100,000! THANK YOU! As we work together, let’s bring America back to greatness!

Trump’s support for Bitcoin coincides with his election pledges to establish the U.S. as a global leader in cryptocurrency. As his new term commences on January 20, 2025, it is anticipated that his administration will introduce substantial regulatory adjustments via bodies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

These suggested changes are essential for nurturing the development of the digital assets market, a sector that Trump considers crucial to his presidential term and a significant departure from the approach taken by President Biden’s administration towards the emerging financial landscape.

Trump’s announcement regarding his pick for the new SEC Chair comes as current Chair Gary Gensler steps down on January 20th. It’s predicted that this change will open the door for former Commissioner Paul Atkins, who is known for being pro-cryptocurrency, to take charge with a vision that supports digital assets.

Dan Gallagher, the legal head at Robinhood Markets, showed faith in Paul Atkins, stating, “Paul Atkins is perfectly suited for this role,” and anticipating that he will immediately address the sector’s issues with “rule-making through action” starting on his first day.

BTC Valuation Surpasses Major Public Companies

Bitcoin’s value exceeding $100,000 has significantly increased its total market worth to surpass $2 trillion, positioning it as a significant financial asset compared to many publicly-traded corporations, such as tech companies like Nvidia, Apple, and Alphabet.

This valuation also surpasses the government bond markets of several countries, including Spain and Brazil, and approaches the market capitalization of the FTSE 100 Index in the UK.

Experts express confidence regarding what lies ahead, as Fadi Aboualfa, leader of research at Copper Technologies, believes that surpassing $100,000 marks the start of a robust and durable new phase in the bull market, which seems capable of withstanding various external disturbances.

Manuel Villegas, a digital asset expert at Julius Baer, stated that the interest in Bitcoin continues to be robust, implying a potential shortage in supply during the next year, much like past market dynamics.

As a researcher, I find it intriguing to consider the potential implications of a hypothetical second term for Trump in the White House, which could possibly bring about changes in the government’s role regarding Bitcoin. At a recent Bitcoin conference, Trump suggested an innovative approach: the establishment of a strategic reserve of Bitcoin, initially comprising assets that have been seized by the US government. This idea, if implemented, could mark a significant shift in the relationship between the government and this digital currency.

As an analyst, I’ve pondered over intriguing proposals such as those put forth by allies like Robert Kennedy Jr. and Senator Cynthia Lummis. They propose that our government might consider investing in a substantial amount of Bitcoin, roughly 1 million coins, currently valued at around $100 billion. This suggestion is aimed at bolstering the backing of the US dollar.

Beginning on Thursday, Bitcoin hit an unprecedented record of $104,150 per unit, signifying a significant jump of 6.6% in just one day. Yet, following this high, its value has dipped back slightly to approximately $103,000.

Is it possible that this upward trajectory continues or will selling by investors trigger a downturn in the primary digital currency? The upcoming perspective relies on identifying the next significant resistance level, where $100,000 serves as a crucial threshold capable of fostering additional price growth.

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2024-12-06 06:40