Bitcoin Surges Above $100,000 on Trump's Crypto-Friendly Policies

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Bitcoin Surges Above $100,000 on Trump's Crypto-Friendly Policies
BITCOINTRUMPREGULATORY SUPPORT
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Bitcoin has surged above $100,000 for the first time, driven by increased expectations of regulatory support from President-elect Donald Trump, who has nominated several crypto advocates to top positions.

Bitcoin has surged above $100,000 for the first time, extending a dramatic rally as investors bet on greater political and regulatory support from US president-elect Donald Trump . The price of the world’s largest cryptocurrency climbed as much as 6.1 per cent on Thursday to $103,800, up more than 50 per cent since Trump ’s November election victory.

Under its current chair, Gary Gensler, the SEC launched a series of lawsuits against many of crypto’s biggest names including exchanges Coinbase, Kraken and Crypto.com, payments provider Ripple and blockchain software company Consensys. Under Gensler’s leadership, 18 per cent of the SEC’s tips, complaints and referrals were crypto-related, “despite the crypto markets comprising less than 1 per cent” of US capital markets, the agency said in its statement announcing his departure in November.

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