With the way Bitcoin has been climbing, even the sky isn’t a limit anymore. Yesterday, Bitcoin touched $103.8K, a sharp recovery from its $16K low during the FTX crisis two years ago. The value of the digital currency has skyrocketed more than 50% since Trump’s November victory, with his selection of crypto advocate Paul Atkins to head the SEC, which has propelled the asset even higher.
- BTC is up ~130% YTD, vastly outperforming traditional markets like the S&P 500’s 28% gain — with crypto ETFs attracting $4.4B in inflows since early November.
- Trump’s reversal on crypto policy has paid dividends, with his campaign receiving millions in cryptocurrency donations after beginning to accept them in May 2024.
The crypto-volution: Beyond Atkins, Trump has appointed Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary and is exploring a new White House role focused on crypto policy. This contrasts with the Biden administration’s regulatory crackdown, which included multiple SEC lawsuits against major crypto players, despite the sector accounting for less than 1% of US capital markets. With Trump’s promise to position the US as “the Bitcoin superpower of the world,” the crypto community is gearing up for a potential “golden era.”
