Bitcoin Breaks New Boundaries: Trump Administration Sparks Cryptocurrency Surge

Bitcoin surpassed the USD 100,000 milestone following Donald Trump's election, driven by optimism around his lighter regulatory vision for the crypto industry. While some see potential for further gains, others warn of risks due to the crypto market's volatility. Environmental concerns also persist due to energy-intensive mining practices.

Bitcoin has shattered the USD 100,000 barrier, bolstered by a rally following the election of Donald Trump. The new President-elect's plans to ease regulations and appoint cryptocurrency advocate Paul Atkins as SEC chair have further fueled optimism among crypto enthusiasts.

Since Trump's November 5 election victory, Bitcoin's value shot up from USD 69,374 to above USD 100,000, though it slipped slightly below that mark early Thursday. The cryptocurrency's surge follows its past fluctuating trends, illustrating the cryptoverse's inherent volatility.

Trump aims to position the US as the global crypto hub, a vision supported by his administration's regulatory changes. However, investors and experts urge caution, particularly with the environmental impact of Bitcoin's energy-heavy mining processes.

(With inputs from agencies.)