Bitcoin’s value surged to a record $98,800 on Thursday after the Securities and Exchange Commission announced Chair Gary Gensler’s departure. The token had briefly crossed the $100,000 mark before regaining stability due to investors’ confidence in pro-crypto policies from the incoming Trump administration.
The price increase comes amid speculation that President-elect Donald Trump will appoint a crypto-friendly SEC chairman, which could lead to increased regulation and investment in the sector. Mike Novogratz, CEO of Galaxy Digital, expressed optimism about the new administration’s stance on digital assets, stating that the team is “all in” on blockchains and bitcoin.
The move also coincides with Trump Media & Technology Group’s advanced talks to acquire Bakkt, a crypto trading company that could further boost initiatives within the sector. Additionally, spot ETFs have seen massive inflows since Trump’s presidential win, with BlackRock’s bitcoin ETF assets rising by $13 billion. As investors await further developments, bitcoin remains a hot topic of discussion.
Source: https://finance.yahoo.com/news/bitcoin-jumps-back-above-98000-after-sec-announces-gary-gensler-will-step-down-182502440.html