Bitcoin, the flagship cryptocurrency, has surged to an all-time high of $101,000, marking a historic milestone for the crypto community.
This record-breaking achievement comes in the wake of President-elect Donald Trump’s victory over Vice President Kamala Harris, a result that has sparked optimism among cryptocurrency enthusiasts.
Crypto Community Cheers Trump’s Pro-Crypto Stance
Throughout his campaign, Trump actively courted the crypto community, pledging to be a defender of digital assets.
This commitment appears to have resonated with investors, as bitcoin skyrocketed from $68,000 just a day before the election to its current six-figure value. This represents a 47% return on investment in mere days.
Looking at the broader picture, bitcoin’s value has surged 124% since the start of the year and 165% from this time last year. A long-term investor who put $5,000 into bitcoin five years ago would now see their investment swell to $62,500.
Crypto advocates anticipate a more favorable regulatory environment under Trump, contrasting it with the approach of President Joe Biden’s administration, which faced criticism for overregulating the industry.
