Bitcoin Price Soars to Record $100,000 Amid Pro-Crypto SEC Leadership

Last Updated on December 5, 2024 by SPN Editor

Bitcoin price touched historic $100,000 mark, fueled by President-elect Donald Trump’s announcement of Paul Atkins, a known cryptocurrency advocate, as his pick to lead the U.S. Securities and Exchange Commission (SEC). Atkins, with his pro-crypto stance, is expected to usher in a more favorable regulatory environment for digital assets, sparking optimism among investors and driving Bitcoin price to new heights.

Since Trump’s election victory, Bitcoin price has more than doubled, with a notable 45% increase in the four weeks following the announcement of Atkins. The broader crypto market has also seen substantial gains, adding approximately $1.4 trillion since Trump’s win. This momentum is driven by expectations of reduced regulatory scrutiny and increased institutional adoption.

Market analysts are optimistic about Bitcoin’s future under Atkins’ leadership. “We’re witnessing a paradigm shift,” said Mike Novogratz, CEO of Galaxy Digital. “This momentum is fueled by institutional adoption, advancements in tokenization and payments, and a clearer regulatory path.”

Predictions for Bitcoin Price in 2025

As Bitcoin price continues its upward trajectory, experts are buzzing with predictions about its future value in 2025. Here’s a look at some of the most notable forecasts:

• Tom Lee (Fundstrat Global Advisors): Lee predicts Bitcoin could reach $250,000 by the end of 2025, citing increased legitimization in the U.S. and broader adoption as key drivers.
• Tim Draper (Venture Capitalist): Draper has consistently predicted Bitcoin hitting $250,000, initially targeting 2022, later adjusting to mid-2023, and now extending the timeline further.
• Robert Kiyosaki (Financial Analyst): Kiyosaki suggests Bitcoin could soar to $500,000 by 2025, attributing this projection to insights from artificial intelligence.
• Standard Chartered Bank: The bank predicts Bitcoin price could be close to $200,000 by September 2025.
• Matthew Sigel (Head of Research at Van Eck): Sigel forecasts Bitcoin reaching $180,000 by 2025.
• Alliance Bernstein, Global Asset Management: They predict Bitcoin hitting $200,000 by September 2025.

These predictions highlight the optimism surrounding Bitcoin’s potential, driven by factors such as institutional adoption, regulatory developments, and advancements in blockchain technology.

Also Read: VanEck Predicts Bitcoin to Reach $180,000 by 2025

A Journey from $1000 to $100,000

Bitcoin’s journey to reaching the $100,000 milestone has been nothing short of extraordinary. Launched in 2009 by the mysterious Satoshi Nakamoto, Bitcoin began its life as a revolutionary idea challenging traditional financial systems. In its early days, Bitcoin was worth mere cents, but it quickly gained traction among tech enthusiasts and libertarians. By 2013, Bitcoin price had crossed the $1,000 mark, attracting attention from investors and media alike.

The subsequent years saw Bitcoin enduring significant volatility, with dramatic price swings and periods of skepticism. Despite these challenges, Bitcoin’s adoption continued to grow, fueled by increasing institutional interest, technological advancements, and its perceived potential as a hedge against economic instability.

Entering the 2020s, Bitcoin’s credibility was bolstered by endorsements from major financial institutions and its inclusion in investment portfolios. The COVID-19 pandemic further accelerated its rise, as investors sought alternative assets in uncertain times. The surge to $100,000 represents not just a financial milestone but a testament to Bitcoin’s resilience and its evolving role in the global financial landmark!