Bitcoin Soars Past $100,000 Milestone as Traders Brace for Regulatory Shifts Under Trump

Bitcoin (CRYPTO:BTCUSD) has smashed through the $100,000 mark for the first time, capturing traders' attention worldwide.

Bitcoin’s journey is nothing short of extraordinary. Created in 2008 by the mysterious Satoshi Nakamoto, it began as a niche idea. In 2010, Bitcoin saw its first real-world use when a user famously spent 10,000 bitcoins on two Papa John’s pizzas. Those pizzas are now legendary in the crypto world for their skyrocketing value.

By 2013, Bitcoin was no longer just an idea. It attracted the likes of Cameron and Tyler Winklevoss, who filed their first application for a Bitcoin spot ETF with the SEC via their Gemini exchange. Grayscale Investments followed suit, launching the Bitcoin Investment Trust to give investors a more structured way to own Bitcoin.

The regulatory journey was not smooth. In 2017, the SEC rejected the Winklevoss twins' ETF application, citing Bitcoin's market immaturity. This setback sparked years of back-and-forth between crypto pioneers and regulators, with Grayscale and Gemini leading the charge. In 2020, Grayscale made a big move by turning its trust into an SEC-reporting entity, becoming the first publicly traded Bitcoin fund in the U.S. While not an ETF, it was a step toward mainstream acceptance of Bitcoin.

The momentum grew in 2021. Canada launched its first spot Bitcoin ETF, and the U.S. approved the ProShares Bitcoin Trust, a futures-based ETF that hit $1 billion in assets within days. The appetite for crypto investments was undeniable.

However, 2022 brought challenges. The SEC continued to block spot ETF applications, sparking legal battles, including one with Grayscale. The crypto market also faced heavy losses and bankruptcies, shaking investor confidence.

In 2023, the tide began to turn. May saw renewed optimism as major firms, including BlackRock, filed applications for spot Bitcoin ETFs. Bitcoin’s price soared, fueled by hopes for regulatory breakthroughs.

A critical moment came in October when a federal appeals court ruled in favor of Grayscale. By early 2024, the SEC approved several spot Bitcoin ETFs, triggering a wave of new investor interest.

The final boost came on November 6, when Donald Trump’s election win sparked rallies across markets, with Bitcoin leading the charge. By December 5, Bitcoin had climbed past $100,000, delivering a stunning 140% year-to-date gain.

For traders, Bitcoin’s rise underscores the blend of risks and rewards in the crypto market. Its volatility offers huge opportunities but demands careful attention to regulatory changes and market sentiment. In the unpredictable world of crypto, one thing is clear—this ride is far from over.