Bitcoin Surpasses $100,000 After Trump's Pro-Crypto Moves
Bitcoin's price surged past $100,000 on Wednesday, marking a significant milestone for the cryptocurrency. This surge follows a 50% increase since Donald Trump's election as president, fueled by his pro-cryptocurrency stance and the appointment of Paul Atkins, a crypto advocate, as SEC chairman. The cryptocurrency's overall value has more than doubled in 2024.
Trump's approach contrasts sharply with the Biden administration's stricter regulatory actions against crypto exchanges like Coinbase. Under Biden, the SEC alleged that certain tokens sold on these platforms were unregistered securities. This shift in regulatory outlook has reportedly influenced small businesses to move some investments from cash to crypto, as reported by Reuters.
The crypto industry's substantial $245 million contribution to the election cycle, as highlighted by CNBC, underscores its growing influence. For further insights into the evolving landscape of AI and its potential impact, explore related articles on AI legal services and AI startups. You can also stay updated on the latest tech developments with articles like Cyber Monday Apple Deals.