Bitcoin eyes $100K as Trump policies fuel optimism

Bitcoin (CRYPTO:BTC) is nearing the $100,000 mark, propelled by President-elect Donald Trump’s pro-crypto agenda, which has sparked expectations for significant growth in the digital asset sector.

According to Nigel Green, CEO of Devere Group, this moment could signal a transformative period for Bitcoin and the broader crypto market.

“We expect that this is just the beginning, with the cryptocurrency set to break more records under an incoming Trump administration,” Green stated.

Trump’s potential regulatory framework could create a substantial boost for Bitcoin as a strategic asset.

"His administration has a clear mandate to regulate crypto constructively, and his plan to elevate Bitcoin to a strategic asset class is a powerful endorsement," stated Nigel Green, CEO of deVere Group.

With rising inflation concerns fueled by potential policy changes, Bitcoin's capped supply positions it as an attractive hedge.

“While inflation pressures have eased with recent rate cuts globally, the Trump administration’s ambitious spending plans and potential tariffs could quickly reignite upward pressure on prices.

This inflationary backdrop is encouraging investors to turn to Bitcoin as a safeguard against diminishing purchasing power,” Green highlighted.

Each increase in Bitcoin’s value strengthens its position as a mainstream financial tool, according to Green.

He stated that Trump’s support would catalyse its inclusion in traditional and institutional portfolios.

“The Trump administration’s backing will be the catalyst for this shift, pushing Bitcoin into the portfolios of traditional and institutional investors alike,” he continued.

Trump’s pro-crypto stance, combined with a potential clear regulatory path, sets the stage for Bitcoin’s unprecedented growth.

“With a clear regulatory framework and his push to make Bitcoin a strategic asset, the digital currency is poised for unprecedented growth,” Green concluded.

The path to $100,000 now appears achievable and could mark a significant shift for cryptocurrencies and conventional investment strategies.

At the time of reporting, the Bitcoin price was $87,751.42.