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As
confidence grew about the inauguration of U.S. President-elect Donald Trump
next week, Bitcoin jumped beyond the crucial $100,000 mark on Friday.
Bitcoin reached $101,372.1 at 01:01 ET (06:01 GMT), up 2%.
Expectations of more lenient crypto policies under Trump have driven Bitcoin past $100k.
Bitcoin has seen a sharp increase in the run-up to President-elect Donald Trump's inauguration on January 20, most recently hitting a new high of $108,244.
The expectation of crypto-friendly legislation under the new administration is largely responsible for this rising trend.
According to sources cited by Bloomberg on Friday, Trump is getting ready to sign an executive order designating bitcoin as a national policy priority and giving business executives a major say in establishing rules.
Notably, the government's $20 billion in seized Bitcoin holdings might be used to build a national Bitcoin stockpile, according to the report.
Investor trust in the digital asset has increased as a result of Trump's campaign pledges, which included the possible establishment of a strategic reserve and the appointment of proponents of cryptocurrencies to important regulatory roles.
Notable is the selection of well-known cryptocurrency supporter Paul Atkins as the Securities and Exchange Commission's (SEC) potential head.
According to sources cited by Reuters on Wednesday, Republican officials at the SEC are anticipated to begin updating the organization's cryptocurrency policy as soon as Trump takes office next week.
Today's cryptocurrency price: Litecoin rises 16%, as most altcoins advance in tandem with Bitcoin
The majority of altcoins in the larger cryptocurrency market surged significantly more than Bitcoin, indicating a greater willingness to take risks.
Ether, the second-ranked cryptocurrency in the world, increased by 0.2% to $3,374.21.
The third-ranked cryptocurrency, XRP, rose 8.7% to $3.0616.
Cardano increased 7.7%, Polygon jumped 2.3%, and Solana climbed 5%. Dogecoin outperformed other meme tokens by 2.7%.
With increasing confidence over the potential approval of an exchange-traded fund (ETF) with an LTC concentration, Litecoin jumped 16% after surging more than 10% the day before.
The rally follows Canary Capital's January 15 amendment to its S-1 registration form with the SEC. The modification is seen by analysts as an important step in interacting with authorities.
These filings frequently imply that regulators have provided input, and the updates may provide information on the review procedure.
Litecoin would become the third cryptocurrency, after Bitcoin and Ethereum, to obtain a U.S.-licensed spot ETF if the proposed ETF is authorized.
Bitcoin reached $101,372.1 at 01:01 ET (06:01 GMT), up 2%.
Expectations of more lenient crypto policies under Trump have driven Bitcoin past $100k.
Bitcoin has seen a sharp increase in the run-up to President-elect Donald Trump's inauguration on January 20, most recently hitting a new high of $108,244.
The expectation of crypto-friendly legislation under the new administration is largely responsible for this rising trend.
According to sources cited by Bloomberg on Friday, Trump is getting ready to sign an executive order designating bitcoin as a national policy priority and giving business executives a major say in establishing rules.
Notably, the government's $20 billion in seized Bitcoin holdings might be used to build a national Bitcoin stockpile, according to the report.
Investor trust in the digital asset has increased as a result of Trump's campaign pledges, which included the possible establishment of a strategic reserve and the appointment of proponents of cryptocurrencies to important regulatory roles.
Notable is the selection of well-known cryptocurrency supporter Paul Atkins as the Securities and Exchange Commission's (SEC) potential head.
According to sources cited by Reuters on Wednesday, Republican officials at the SEC are anticipated to begin updating the organization's cryptocurrency policy as soon as Trump takes office next week.
Today's cryptocurrency price: Litecoin rises 16%, as most altcoins advance in tandem with Bitcoin
The majority of altcoins in the larger cryptocurrency market surged significantly more than Bitcoin, indicating a greater willingness to take risks.
Ether, the second-ranked cryptocurrency in the world, increased by 0.2% to $3,374.21.
The third-ranked cryptocurrency, XRP, rose 8.7% to $3.0616.
Cardano increased 7.7%, Polygon jumped 2.3%, and Solana climbed 5%. Dogecoin outperformed other meme tokens by 2.7%.
With increasing confidence over the potential approval of an exchange-traded fund (ETF) with an LTC concentration, Litecoin jumped 16% after surging more than 10% the day before.
The rally follows Canary Capital's January 15 amendment to its S-1 registration form with the SEC. The modification is seen by analysts as an important step in interacting with authorities.
These filings frequently imply that regulators have provided input, and the updates may provide information on the review procedure.
Litecoin would become the third cryptocurrency, after Bitcoin and Ethereum, to obtain a U.S.-licensed spot ETF if the proposed ETF is authorized.
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