World press covers Bitcoin above $100k
Last Updated on 6 December 2024 by CryptoTips.eu
The global media, which has long vilified Bitcoin, put the largest digital currency on almost all front pages yesterday after the price barrier of 100,000 dollars for one Bitcoin was breached. Most of the publications attributed the price growth of the last month to the victory of Donald Trump and his choice of government position candidates. An overview
Milestone
The word ‘milestone’ was included quite often in the coverage. Both the New York Times and Yahoo Finance talked about it. They point to the renaissance of crypto ever since the fall of FTX back in November of 2022, when it seemed to be over and out for Bitcoin, which at the time was trading at a price of just $16,000.
According to CNN and BBC, the price boost which took it across $100k was because of Donald Trump’s nomination of Paul Atkins, a crypto enthusiast, as the new head of the SEC (American stock market watchdog). In recent years, several major crypto platforms have run into trouble as the SEC (under the leadership of Gary Gensler) filed lawsuits against them. Ripple Labs, which issues the digital currency XRP, the crypto platform Binance (with their own BNB currency) as well as Coinbase all reacted happily to the news.
The Guardian also believes that Bitcoin’s price rise can be attributed almost entirely to Donald Trump. The future US president once called the largest digital currency a “scam” but changed his mind in the last few years, realizing how popular digital currencies are with Gen Z and Millenials.
“On day One I will fire Gary Gensler.” That was the promise that Donald Trump made to a large audience of crypto fans in Nashville in July this year during the Bitcoin 2024 conference. Trump was clearly shocked by the raucous response. The enthusiastic audience gave him a standing ovation and very loud applause, after which he repeated the quote again.
From that moment on, Trump talked about crypto almost every week. The crypto lobby backed his chosen candidates in half of all political races for the US Congress.
ETF
Lastly, although everyone is talking about Donald Trump’s election victory, we should not forget that the introduction of Bitcoin ETFs at the beginning of the year also contributed to Bitcoin’s growth. Thanks to the many new investors who simply turned to BlackRock to buy Bitcoin, the largest digital currency has been trading above $50k continuously ever since March of this year.
