In this news:
Bitcoin's price soared past $100,000 on Friday, driven by optimism in the cryptocurrency sector over potential early action by Donald Trump, who become U.S. president next , once a vocal skeptic of digital currencies, has embraced the sector, pledging to establish the United States as a global leader in cryptocurrency campaign promises include enacting crypto-friendly regulations, creating a U.S. strategic bitcoin reserve and appointing a crypto "czar" to lead these It MattersBitcoin, created in 2009, has evolved from a niche asset to a significant financial instrument. Its rise to $100,000 highlights the market's anticipation of favorable policies under Trump, who has surrounded himself with crypto advocates in key regulatory shift could mark a transformative period for cryptocurrency regulation and adoption in the U.S., particularly after what many industry players viewed as restrictive policies under the Biden to KnowBitcoin surged by approximately 5 percent on Friday, reaching $104,000, according to CoinDesk. The cryptocurrency had briefly dipped to $90,000 earlier in the week but rebounded amid growing enthusiasm for Trump's pro-crypto stance. Two years ago, bitcoin traded at just $20,000, underscoring its dramatic 's Crypto AgendaTrump has pledged to establish a "Strategic Bitcoin Reserve" as a national asset. Advocates have proposed an executive order that would direct the Treasury Department to hold at least $21 billion in bitcoin, diversifying federal argue that bitcoin's volatility makes it unsuitable as a reserve, but proponents believe it will legitimize the Regulatory CouncilTrump plans to create a special advisory council within his first 100 days to establish clear regulations for the industry. David Sacks, a venture capitalist, has been named crypto "czar," while Bo Hines will lead the Presidential Council of Advisers for Digital Assets. Trump's Securities and Exchange Commission (SEC) pick, Paul Atkins, is a longtime advocate for digital crypto advocates, who felt targeted by Biden-era enforcement, heavily supported Trump's campaign. Peter Van Valkenburgh of advocacy group Coin Center predicted a "tone change" at the SEC, contrasting with outgoing Chairman Gary Gensler's aggressive People Are SayingTrump assured bitcoin enthusiasts last year, signaling a regulatory shift: "You're going to be very happy with me."Zack Shapiro of the Bitcoin Policy Institute said: "Creating a strategic bitcoin reserve will legitimize bitcoin for skeptics."What Happens NextAs Trump prepares to take office, crypto advocates anticipate swift action on his promises, including the establishment of a strategic bitcoin reserve and the creation of pro-industry developments could further fuel bitcoin's rise and shape the future of cryptocurrency in the article includes reporting from The Associated Press.
