Headline Roundup • December 5th, 2024
Bitcoin Hits $100,000
Summary from the AllSides News Team
Bitcoin topped $100,000 for the first time Wednesday night and continued to rise Thursday.
The Details: Bitcoin sat at $69,121 the day before Election Day, then rose to a high of $74,445 on Nov. 6, and has continued to rise. The Trump campaign emphasized regulations that would be favorable to Bitcoin and other cryptocurrencies. As of Thursday morning, Bitcoin is up 130% for the year so far.
For Context: President-elect Trump nominated Paul Atkins for the Securities and Exchange Commission chair on Wednesday. Atkins is a cryptocurrency advocate and is expected to enforce lighter regulations than his predecessor, Gary Gensler, who fought the industry's expansion during the Biden Administration.
How the Media Covered It: The Wall Street Journal (Center bias) noted Bitcoin's history of volatility and that it is "practically never used today as a way to make payments." It added that many early adopters of cryptocurrency were libertarians looking for ways to make payments outside traditional banking and government surveillance, and now some are "cheering Trump’s pledge to create a strategic national reserve for the government’s bitcoin holdings." CNN Business (Lean Left bias) pointed out Trump's hypocrisy: "Trump, once a crypto skeptic, had called it 'not money,' labeling it 'highly volatile and based on thin air.' But he took a 180-turn in the months leading up to his reelection as he sought to attract younger male voters." Fox Business (Lean Right bias) didn't mention criticisms of Trump's plan for cryptocurrency.
Featured Coverage of this Story
Bitcoin prices topped $100,000 for the first time ever on Wednesday evening and continued rising on Thursday, as the cryptocurrency continued its record-setting run in the wake of President-elect Trump's election victory and more buzz that the incoming administration will have a crypto czar.
The price of bitcoin rose from $69,121 the day before Election Day to what was then an all-time high of $74,445 on Nov. 6, the day after the election.
From there, bitcoin's surge has continued, and it broke the $80,000 mark for the first time on Nov....
Marco Bello/Reuters/File
Bitcoin hit $100,000 for the first time on Wednesday, surging to a new record after President-elect Donald Trump unveiled administration picks seen as holding the keys to ushering in crypto-friendly policies when he takes office in January.
Chief among the picks is Paul Atkins, whom Trump intends to nominate to lead the Securities and Exchange Commission (SEC), which regulates cryptocurrency.
Atkins, a crypto advocate and former SEC commissioner, is expected to regulate cryptocurrency with a lighter touch than Gary Gensler, who leads the commission under the Biden administration. Gensler, who aggressively fought...
Johnny Simon/WSJ, Emily Elconin/Getty Images, iStock
Bitcoin traded above $100,000 for the first time late Wednesday, powered by a wave of investors betting that President-elect Donald Trump will turn U.S. government policy into an engine of growth for crypto.
The world’s largest digital currency has staged an extraordinary rally since Election Day, surging more than 40% in just four weeks and setting one record after another. It surged as high as $103,853 after Trump picked Paul Atkins, a crypto-friendly former regulator, to lead the Securities and Exchange Commission. During the campaign, Trump dropped his earlier skepticism of bitcoin and promised to “end Joe Biden’s...
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