Bitcoin at record highs, sets sights on $100,000

Bitcoin reached a record high of $99,380 on Friday, fueled by optimism over a more crypto-friendly regulatory environment under the incoming Trump administration.

The cryptocurrency has surged 130% this year, with about 45% of the gains occurring since Trump’s election victory on November 5. Investors are anticipating supportive policies as Trump has pledged to make the U.S. the "crypto capital of the planet" and build a national bitcoin reserve.

This momentum has also benefited other cryptocurrencies, including Dogecoin, which has surged 150% since election day, driven by endorsements from Trump ally Elon Musk.

The market has further been buoyed by the approval of U.S.-listed bitcoin ETFs earlier this year, signaling growing mainstream acceptance. Additionally, expectations of reduced regulatory scrutiny have intensified following SEC Chair Gary Gensler’s announcement of his planned resignation in January.