Bitcoin's Surge Toward $100k: A New Era Under Trump?

Bitcoin's value is on track to exceed $100,000, fueled by anticipation of a favorable U.S. regulatory environment under President-elect Donald Trump. With investments flowing into bitcoin-focused ETFs and related stocks rising, the cryptocurrency's market is poised for growth. However, regulatory clarity remains uncertain.

The trajectory of Bitcoin toward a landmark value of $100,000 gained momentum on Thursday. Investors are wagering on a more supportive regulatory landscape for cryptocurrencies with President-elect Donald Trump set to take office, predicting a potential era of growth for digital currencies.

During European trading, Bitcoin prices surged past $98,000 for the first time, marking a 4% increase on the day. The cryptocurrency's value has more than doubled this year, with a 40% rise in the fortnight since Trump's election victory, coupled with pro-crypto lawmakers winning seats in Congress.

Speculation is rife about whether the new administration will provide the much-needed regulatory clarity for the crypto sector. While adoption and investment in digital assets grow, uncertainties remain, as observed by Will Peck of WisdomTree, suggesting a bullish outlook for the blockchain-powered ecosystem.

(With inputs from agencies.)