Bitcoin breached the $100,000-mark for the first time on Thursday, continuing the rally that was spurred with the election of Donald Trump – an apparent friend of cryptocurrency – as the next US President.
Since the beginning of the year, Bitcoin has more than doubled and is up by about 45 per cent in the four weeks since Trump's win.
The original cryptocoin last traded at $100,000-above mark on Thursday, causing a spurt in altcoins like Ethereum and Doge, which also followed with an unprecedented rally in the OG's trail.
As the date of Trump's oath ceremony approaches, crypto investors are becoming ever more bullish on Bitcoin's large-scale adoption as a mainstream currency.
"Bitcoin crossing $100,000 is more than just a milestone; it's a testament to shifting tides in finance, technology, and geopolitics," Justin D'Anethan, a Hong Kong-based independent crypto analyst, told Reuters. "The figure not that long ago dismissed as fantasy, stands as a reality."
In the run up to his presidential campaign, Trump vowed to make the United States the "crypto capital of the planet" and to accumulate a national stockpile of bitcoin, quite like El Salvador has been doing.
Crypto market sees an end to increased scrutiny under US Securities and Exchange Commission Chair Gary Gensler, who last week said he would step down in January when Trump takes office.
Trump on Wednesday said he would nominate Paul Atkins to run the Securities and Exchange Commission.
Atkins has been involved in crypto policy as co-chair of the Token Alliance.
Speculations are rife that quite a few crypto firms like Ripple and crypto exchange Kraken are angling for a seat on Trump's promised crypto advisory council to have a say in policy.
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