Bitcoin Breaks Records in Post-Trump Election Surge

Bitcoin has reached an all-time high following Donald Trump's election and pro-crypto policies promise. The cryptocurrency is up 130% this year, largely due to market confidence in a friendlier regulatory future. Investors are also buoyed by the SEC's shift and the success of bitcoin ETFs.

Bitcoin surged to an all-time high on Friday, nearing the $100,000 mark, driven by expectations of a kinder regulatory environment under the Trump administration. The digital currency has doubled its value this year and gained 45% since Trump's election victory.

Although the cryptocurrency pulled back slightly after hitting a fresh peak, it remains on an upward trajectory, marking three straight weeks of over 10% gains. With its recent surge, bitcoin is set for its best monthly performance since February, positioning itself as a significant winner in the arena of Trump trades.

Investor optimism is further fueled by the potential rise of bitcoin exchange-traded funds (ETFs) and a regulatory shift, as SEC Chair Gary Gensler plans to step down, which could signal reduced scrutiny of cryptocurrencies. Over $4 billion has flowed into U.S.-listed bitcoin ETFs since the election.

(With inputs from agencies.)