Bitcoin has risen to $100,000 for the first time, extending its year-to-date gain to 138%, amid optimism in the market that US President-elect Donald Trump’s administration will provide support to the digital-asset industry.
Trump has vowed to appoint crypto-friendly regulators and create a national strategic stockpile of Bitcoin. He is also considering creating the first-ever White House position related to the cryptocurrency market.
Crypto-related shares surged on the news. MicroStrategy, Bit Digital rose 10%; MARA Holdings rose nearly 7%; Riot Platforms, Coinbase, CleanSpark rose 5%.
Crypto-related ETFs also rose. ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Grayscale Bitcoin Trust, iShares Bitcoin Trust rose over 4%.