## Bitcoin Hits Record High on Path to $100,000 Mark
### By Dhara Ranasinghe, Tom Westbrook, and Hannah Lang
Bitcoin, the leading cryptocurrency, has reached a record high and is on track to break the $100,000 barrier. This remarkable rally has been fueled by expectations of a more favorable regulatory environment under the upcoming Donald Trump administration.
#### Stellar Performance of Bitcoin:
– Bitcoin has more than doubled in value this year.
– It is up approximately 45% since Trump’s election victory on Nov. 5.
– The cryptocurrency touched a fresh record high above $99,800 before pulling back slightly to trade at around $99,383, up 1.33% on the day.
– Bitcoin is set for a third straight week of gains exceeding 10% and its best monthly performance since February.
#### Mainstream Acceptance and Momentum:
– Bitcoin’s surge has made it a standout winner among assets influenced by Trump’s policies.
– The cryptocurrency is on the verge of mainstream acceptance after being in existence for 16 years.
– Shane Oliver, chief economist at AMP Sydney, acknowledges the growing seriousness of bitcoin as it continues to survive.
– Despite the difficulty in valuing bitcoin, its momentum is clearly on the rise with a 130% increase in value this year.
#### Regulatory Outlook and Market Boost:
– Trump’s campaign support for digital assets has instilled confidence in crypto investors.
– With Gary Gensler stepping down as SEC Chair in January, investors expect reduced scrutiny on cryptocurrencies.
– The approval of U.S.-listed bitcoin exchange-traded funds earlier this year has contributed to market growth.
– More than $4 billion has flowed into U.S.-listed bitcoin ETFs since the recent election.
#### Market Response and Trading Activity:
– U.S.-listed crypto stocks have seen a surge in recent days, with steady trading as price surges pause.
– Companies like Microstrategy, known for raising funds to invest in bitcoin, have experienced positive stock performance.
In conclusion, the current market trends and regulatory developments indicate a favorable environment for bitcoin and other cryptocurrencies. With increasing mainstream acceptance and investment opportunities, the future of digital assets looks promising for investors seeking growth and diversification in their portfolios.