Bitcoin Surges Past $100,000 Amidst Trump-Induced Crypto Ecosystem Shift

Bitcoin's value surged past $100,000 following Trump's election, spurred by expectations of a crypto-friendly administration. Over the years, multiple attempts to launch spot bitcoin ETFs faced regulatory challenges, culminating in successful approvals by 2024. Major institutions took part, leading to significant investments and market growth.

Bitcoin surged past the $100,000 mark for the first time, marking a significant milestone in the cryptocurrency's history. This leap was primarily driven by the election of Donald Trump as President, which sparked speculation about a deregulated, crypto-friendly regulatory landscape.

The journey to this historic moment saw numerous efforts by institutions to launch spot bitcoin ETFs, often hindered by regulatory roadblocks. The Winklevoss twins and others faced repeated SEC rejections, highlighting the complexities and challenges within the regulatory framework governing cryptocurrency markets.

However, by 2024, the tide had turned as the SEC approved multiple spot bitcoin ETF proposals from major financial entities, leading to unprecedented inflows and investment growth. This series of strategic victories alongside Trump's advocacy for cryptocurrency significantly buoyed Bitcoin's market value, tackling regulatory hurdles and establishing it as a formidable asset.

(With inputs from agencies.)