Bitcoin Hits $100K: A New Chapter for Crypto

CGTN Europe

Bitcoin’s meteoric rise continues, briefly crossing $104,000, a milestone driven by a changing regulatory landscape and investor optimism.   Former SEC commissioner and crypto advocate Paul Atkins will take the helm as SEC Chair, replacing Gary Gensler.  This leadership shift, paired with Donald Trump’s public endorsement, has fueled excitement among cryptocurrency enthusiasts.  #Bitcoin #CryptoNews #Blockchain #FinancialMarkets #Investing

Transcript

00:00Yeah, I think Bitcoin is here to stay. Don't you, Robin? I really do. Can't see it going

00:05away now. It's extraordinary. If you remember two years ago, Bitcoin was hovering around

00:09$16,000 to $20,000, and now it is over $100,000. When I looked on the screen a few minutes

00:16ago, it's come off now, but a few minutes ago, it was at $104,000. Quite remarkable.

00:21And it is all down to one man. He's called Paul Atkins. And you don't know him. He's

00:26not very well known. But the point is, he's a cryptocurrency enthusiast. He's all in

00:30for crypto. He's a securities lawyer. He's a former member of the SEC, the leading regulator

00:35of the Securities and Exchange Commission. He used to be a commissioner there. Now he

00:38will be in the chair. And he replaces Gary Gensler at the end of this year. Now, Gary

00:43Gensler has been the chair throughout the Biden administration, but he's not seen as

00:47a cryptocurrency fan. So that is the reason that we popped over $100,000 overnight last

00:52night for us. President Trump tweeted via Truth Social. He said, congrats, Bitcoiners,

00:58$100,000, you're welcome. And I have to say, it is the Paul Atkins and Donald Trump effect.

01:06There's a sense here that there's a businessman going to the White House, and that's going

01:09to be a good thing for the economy. $8 billion has flowed into Bitcoin ETFs, exchange traded

01:14funds in the last couple of days. $32 billion in the course of the best part of the last

01:19year. And it's a tide that's rising all boats, because Ethereum is up today 2% at 3,900.

01:25And even Dogecoin, which was started as a meme, as a joke by a couple of cartoonists,

01:30is at 44 cents now, a gain today of 2%. And it's up 171% in the best part of the last

01:37year. But finally, here's the thing. The most actively traded of all the cryptocurrencies,

01:41I bet you've never heard of, because I hadn't heard of it. I consulted a cryptocurrency

01:47journalist this morning who is an expert. And it's Tether, apparently. News to me.

01:52But Tether is what they call a stablecoin, which means it's tied to the dollar. So it's

01:56very, very good for people around the world who wish to get access to the dollar, but

01:59whose governments don't want them to, or whose banking system doesn't allow them to, that

02:03sort of thing. So that makes Tether the most actively traded cryptocurrency. And I should

02:08finish by saying, please remember, if you're thinking of dabbling, you've got to remember,

02:13are you investing in the future of finance around the world, or are you just investing

02:18in a bunch of electrons? You have to make that decision yourself.

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