Incoming President Donald Trump celebrated Bitcoin’s historic price surge as the cryptocurrency hit six figures, sparking optimism among investors.
Bitcoin (BTC) reached an all-time high of $100,000 on Dec. 4, marking a historic milestone for the world’s largest cryptocurrency.
Former President Donald Trump took to Truth Social to commemorate the event, posting, “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!”
The price jump represents an approximate 7% increase in value, boosting Bitcoin’s market capitalization to $2 trillion. According to Asset Market Cap, Bitcoin is now the 18th most valuable asset and is more valuable than the Canadian, Taiwan, and Australian dollars.
Optimism around a favorable regulatory climate under the incoming administration has fueled investor confidence.
Bitcoin’s trading volume surged by 33% to $91 billion, with sentiment indicators showing an 80% bullish outlook.
U.S. spot Bitcoin ETFs also saw inflows for the fifth consecutive day on December 4. U.S. spot Bitcoin ETFs also saw activity, recording their fifth consecutive day of inflows on December 4.
Elon Musk, a member of Trump’s leadership team, commented on X about El Salvador President Nayib Bukele’s Bitcoin portfolio, expressing admiration for Bitcoin reaching this milestone.
President Bukele has been a strong advocate for Bitcoin, adopting it as legal tender, promoting financial inclusion, and positioning the country as a global hub for cryptocurrency innovation. According to Bukele’s post on X, the country’s crypto holdings have increased by at least 117%.
Trump’s embrace of crypto.
During his most recent campaign trail, Trump did not hesitate to express a pro-crypto sentiment. Historically, Trump has had a mixed stance on cryptocurrency. In 2019, he expressed skepticism about Bitcoin, calling it “highly volatile.”
However, during the recent election cycle, Trump stated he would embrace crypto in his next term. “Crypto is moving out of the U.S. because of hostility toward it. I don’t want that. If we are going to embrace it, we will have to let them be here,” he said.
Trump’s victory in November led to a significant cryptocurrency rally, resulting in a surge of Bitcoin and other crypto.
