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Bitcoin 
$108,683 has reached an all-time high of $103,850, surpassing the long-awaited $100,000 threshold. This surge can be attributed to the appointment of Paul Atkins as the new head of the SEC and significant institutional investments in BlackRock’s Bitcoin ETF. Additionally, support from Russian President Vladimir Putin for cryptocurrencies has also played a role in driving prices higher.
Paul Atkins’ SEC Appointment Boosts Crypto Market Sentiment
On December 4, Donald Trump announced Paul Atkins’s appointment as the new SEC Chairman, succeeding Gary Gensler. Known as a pro-crypto figure, Atkins’s appointment has created a positive atmosphere in the market. It has also raised hopes for a more crypto-friendly regulatory framework.
In his remarks about the appointment, Trump stated, “Atkins, along with Peirce and Uyeda, will restore common sense and real investor protection to the SEC.” Following this announcement, Bitcoin’s value rapidly increased, signaling that pro-crypto policies may be accelerated.
BlackRock ETF and Putin’s Support Strengthen Bitcoin
BlackRock’s iShares Bitcoin Trust ETF (IBIT) has surpassed the $50 billion mark in managed assets, drawing significant attention. This success came just 228 days after its launch. Bloomberg ETF Strategist Eric Balchunas noted the unprecedented nature of this rapid growth. Investments in IBIT have boosted demand for Bitcoin, enhancing institutional interest in cryptocurrencies.
Furthermore, Russian President Vladimir Putin openly expressed his support for Bitcoin during the Moscow Calling Investment Forum. He stated, “These technologies cannot be banned. Bitcoin and digital assets will continue to grow.” Putin’s comments have increased confidence in cryptocurrencies across global markets.
Following these developments, Bitcoin’s market value has exceeded $2 trillion, surpassing major companies like Alphabet and Amazon. As daily trading volumes rise, long positions in the futures market have increased. Investors believe Bitcoin could reach $120,000 by the end of December.
These events create a strong foundation supporting Bitcoin’s future value. Institutional interest and positive regulatory changes are enhancing confidence in the cryptocurrency market. Bitcoin’s performance is set to be a significant milestone discussed in the crypto world for years to come.
