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Cryptocurrency News Articles

Bitcoin (BTC-USD) Breaks Another Record: Is Now the Time to Invest?

Dec 06, 2024 at 03:38 am

Bitcoin (BTC-USD) continued to rise on Thursday, trading as high as $103,000 after crossing the key $100,000 level Wednesday evening to continue a stunning rally driven by the belief that President-elect Donald Trump's administration will create a crypto-friendly regulatory environment.

Bitcoin (BTC-USD) Breaks Another Record: Is Now the Time to Invest?

(BTC-USD) continued to rise on Thursday, hitting a high of $103,000 after crossing the key $100,000 level on Wednesday evening, continuing a stunning rally driven by the belief that President-elect Donald Trump's administration will create a crypto-friendly regulatory environment.

wrote. "Together, we will Make America Great Again!"

after Trump picked Paul Atkins to chair the Securities and Exchange Commission. Atkins was seen as a crypto-friendly pick for the role.

wrote on Truth Social on Wednesday.

optimism over crypto-friendly policies grew last month after the SEC announced Chair Gary Gensler will step down on Jan. 20, the president-elect's Inauguration Day.

Read more: Bitcoin clears another record: Is now the time to invest?

Reports that Trump's transition team is discussing the possibility of a first-ever White House role or "crypto czar" to oversee bitcoin policy have also helped drive the token's gains.

DJT) is in advanced talks to acquire crypto trading company Bakkt (BKKT), a tie-up that could further boost initiatives in the sector.

massive inflows recently, helping to drive prices higher. Options linked to BlackRock's spot bitcoin ETF (IBIT) also started trading on the Nasdaq in November, channeling more trading activity into the crypto space.

Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.

Click here for in-depth analysis of the latest stock market news and events driving stock prices

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Original source:yahoo

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