Key Points
- Bitcoin (BTC) hit a historic high of $100,000, celebrated by former President Donald Trump.
- Investor confidence is high due to a favorable regulatory climate and Bitcoin’s market capitalization reached $2 trillion.
Bitcoin (BTC) achieved a remarkable milestone on December 4, reaching a historic high of $100,000.
This significant event was celebrated by former President Donald Trump on Truth Social, where he expressed his congratulations to Bitcoin investors.
Bitcoin’s Market Capitalization
The surge in Bitcoin’s price represents approximately a 7% increase in its value.
This has pushed Bitcoin’s market capitalization to a staggering $2 trillion, making it the 18th most valuable asset according to Asset Market Cap.
It’s worth noting that Bitcoin now surpasses the value of several national currencies, including the Canadian, Taiwan, and Australian dollars.
Investor Confidence and Trading Volume
Investor confidence has been boosted due to the anticipation of a more crypto-friendly regulatory environment under the incoming administration.
This optimism is reflected in Bitcoin’s trading volume, which saw a 33% surge to $91 billion.
Sentiment indicators also show an overwhelmingly bullish outlook, with 80% of investors expressing positive sentiment.
Moreover, U.S. spot Bitcoin ETFs recorded inflows for five consecutive days on December 4.
Elon Musk, a member of Trump’s leadership team, also expressed his admiration for Bitcoin’s achievement, commenting on El Salvador President Nayib Bukele’s Bitcoin portfolio.
President Bukele has been a strong advocate for Bitcoin, adopting it as legal tender and positioning El Salvador as a global hub for cryptocurrency innovation.
Trump’s Pro-Crypto Sentiment
Trump has shown a pro-crypto sentiment during his recent campaign trail.
In the past, Trump has expressed skepticism about Bitcoin, citing its volatility.
However, during the recent election cycle, he stated that he would embrace crypto in his next term.
His victory in November led to a significant cryptocurrency rally, resulting in a surge of Bitcoin and other cryptocurrencies.