Bitcoin surged to an astonishing $103,000 on Thursday, December 5, setting a new record high. This long-anticipated milestone was achieved just hours after Donald Trump officially selected pro-crypto advocate Paul Atkins as the new chair of the SEC.
After stagnating for a week, Bitcoin finally broke through the $100,000 mark. The current rally has been attributed to Donald Trump’s victory in the 2024 US Presidential Election.
Experts believe that Bitcoin’s ascension to $100,000 was inevitable, as several factors perfectly aligned to push the price up.
Greg Magadini, Director of Derivatives at crypto analytics firm Amberdata, stated that key catalysts for the surge included discussions around crypto tax policies, the potential for strategic BTC reserves, and continuous inflows into Bitcoin exchange traded funds (ETFs).
