Bitcoin's Remarkable Rise

Bitcoin has experienced a phenomenal surge this year, more than doubling in value and increasing by approximately 45% since Trump's election victory, which also saw a significant number of pro-crypto lawmakers elected to Congress.

As of 9:40 a.m. Thursday, Bitcoin was trading at $100,027, marking a 2.2% increase from the previous session, with an earlier peak of $100,277.

A Paradigm Shift in Finance

Mike Novogratz, founder and CEO of Galaxy Digital, commented, "We're witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream."

This momentum is attributed to institutional adoption, advancements in tokenization and payments, and a clearer regulatory path.

Mainstream Acceptance and Regulatory Changes

Despite controversies and naysayers, Bitcoin appears to be on the verge of mainstream acceptance. Justin D'Anethan, an independent crypto analyst, noted, "Bitcoin crossing $100,000 is more than just a milestone; it's a testament to shifting tides in finance, technology, and geopolitics."

Trump's embrace of digital assets during his campaign, promising to make the United States the "crypto capital of the planet" and to accumulate a national stockpile of bitcoin, has significantly influenced the market.

Institutional Adoption and Future Prospects

The approval of U.S.-listed bitcoin exchange-traded funds (ETFs) in January this year has allowed more investors, including institutional investors, to gain exposure to bitcoin. More than $4 billion has flowed into U.S.-listed bitcoin ETFs since the election.

Market participants are closely monitoring the situation now that Bitcoin has broken above $100,000. Steven McClurg, founder of Canary Capital, predicts Bitcoin's price to hit $120,000 by Christmas.