Bitcoin Nails $100k Thanks to Donnie Politics' Crypto Bromance and Wall Street's FOMO...

Welp, Bitcoin just obliterated the $100,000 mark, and if you’re still calling it a “fad,” it might be time to log off (me included). The OG cryptocurrency hit highs of $103,844.05 Wednesday night, officially making 2024 the year Bitcoin said, “I told you so.” It’s up a face-melting 133% this year alone, with 48% of that rocket ride coming since Election Day. 

(Source: Giphy) 

The cause? Well it wasn’t some organic, kumbaya moment. No sir, this was a perfect storm of  Trump’s crypto lovefest, Wall Street’s FOMO, and a community of HODLers who’ve been sharpening their pitchforks for a friggin decade. Simply put, Donnie Politics (a.k.a. The dude who once called crypto a scam), is now its number one hype man. 

The president-elect has gone full laser-eyes, promising to make the U.S. the “crypto capital of the planet.” And he’s not just tweeting about it—he’s making moves. On Wednesday, Trump announced Paul Atkins as his pick for SEC chair, a move that sent shockwaves through the crypto world. Atkins is basically the anti-Gensler, a guy who’s for innovation, not against it.

Which let’s be honest, wasn’t just a regulatory shake-up, it was a massive slap in da face on Gary Gensler, the man who’s spent years making the crypto industry’s life hell with his regulation-by-enforcement tactics. And now that Gensler is out faster than Trump’s toupee in a hurricane, Trump's message to Bitcoiners is louder and clearer than ever: "You're Welcome”. No, really—that’s what he said on Truth Social LOL, along with a promise of no taxes on crypto transactions and even a national Bitcoin reserve.

Meanwhile, the suits are finally waking up. BlackRock, Fidelity, and Invesco all launched spot Bitcoin ETFs this year, essentially giving Bitcoin its Wall Street IPO moment. These ETFs have been gobbled up faster than Temu “sweatshop” products on Black Friday, pushing Bitcoin into the mainstream and beyond. Even Charles Schwab is gearing up for crypto trading, waiting for Trump’s regulatory green light to dive in.

(Source: Bloomberg) 

And then, there’s Grandpa Powell, who might as well have handed Bitcoin a crown during the DealBook Summit. “It’s like gold, but digital,” he said. Translation: Bitcoin is no longer the rebellious teenager of finance—it’s the new favorite child.

On the other hand though, critics are obviously losing their minds (it’s what they do best, amirite?). They’re waving red flags about scams, volatility, and financial doom, with some calling crypto a “speculative vehicle” destined to crash harder than a meme stock. Dennis Kelleher of Better Markets even warned of a catastrophic financial crisis worse than 2008. But here’s the thing: no one cares. The markets are drunk on optimism, and Bitcoin is becoming the life of the never-ending party. 

(Source: Giphy) 

Meaning, Bitcoin at $100K isn’t just a milestone—it’s a middle finger to every doubter, regulator, and banker who ever called it a joke. With a pro-crypto administration about to take the reins and institutional adoption hitting warp speed, Bitcoin’s trajectory looks unstoppable. Sure, volatility is baked into its DNA, and the critics might eventually get their “I told you so” moment. But for now? The bulls are running wild, and Bitcoin is the undisputed king of the financial revolution.

So what to do, what to do? Well, it’s apparent that Bitcoin isn’t just a fad, and every mouth breathing crypto fanatic is having the time of their life right now. But while some may be punching air at the fact they’ve missed the melt up (not gonna lie, I may have punched a few myself), place your bets accordingly. Don’t fall into FOMO. There will always be other opportunities to get in the ground floor of something massive in the making (*cough* Stocks.News alerts *cough*). 

(Source: Giphy) 

But in the meantime, let’s all enjoy the show, and relish in the fact that there’s always room for explosive growth and innovation in industries you’d least expect to stick around this long. So yeah, do what you will with this information—but the important thing? Stay safe and stay frosty, friends! Until next time…

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Stocks.News does not hold positions in companies mentioned in the article.