Trump’s Appointments Propel Bitcoin Toward $100K Milestone

Bitcoin continues its post-election surge, hitting a record high of $99,027 and edging closer to the long-anticipated $100,000 milestone. The rally comes as President-elect Donald Trump’s appointments signal a pro-crypto shift in U.S. policy, driving optimism across the digital asset market.

Bitcoin Surges on ETF Momentum and Trump’s Crypto Agenda

The recent Bitcoin rally follows the launch of options trading for spot Bitcoin ETFs, which introduced significant liquidity into the market. The iShares Bitcoin Trust (IBIT), led by BlackRock, made headlines with an impressive $1.9 billion in exposure on its first day. Other major ETFs, including Grayscale Bitcoin Trust (GBTC), Fidelity’s Wise Origin Bitcoin Trust (FBTC), and the ARK 21Shares Bitcoin ETF (ARKB), added to the momentum, with total ETF inflows reaching $1.86 billion in just three days.

As of Thursday afternoon, Bitcoin spiked to a new all-time high of $99,027 before stabilizing around $98,000. With the world’s largest cryptocurrency up 134% for the year, analysts are now forecasting Bitcoin to cross $100,000 before year-end. LMAX Group strategist Joel Kruger noted that Bitcoin’s Q4 performance has historically averaged an 80% return since 2013, suggesting that a push beyond $100,000 — and even $110,000 — is possible before 2025.

Trump’s Crypto-Friendly Appointments

One of the most significant factors influencing Bitcoin’s rise is President-elect Donald Trump’s appointments and policy direction. Trump has pledged to prioritize crypto-friendly policies, and his choices for key government positions underscore this commitment.

Trump’s appointment of Cantor Fitzgerald CEO Howard Lutnick as head of the Department of Commerce is seen as a bullish move for the crypto sector. Lutnick, a prominent advocate for digital assets, has publicly declared his support for Bitcoin, calling it “the future” during a major Bitcoin conference earlier this year. Under his leadership, Cantor Fitzgerald has emerged as a major player in the crypto space, serving as a custodian for Tether, one of the world’s largest stablecoins.

Additionally, Trump’s transition team is reportedly considering the creation of a White House role dedicated solely to cryptocurrency policy. This position would mark a historic shift, as no previous administration has had a dedicated crypto policy advisor reporting directly to the president. Sources close to the Trump team have indicated that discussions are ongoing, with crypto advocates pushing for a direct line to the White House.

Spot Bitcoin ETF Frenzy Adds Fuel to the Fire

The introduction of spot Bitcoin ETFs is widely seen as a pivotal moment for institutional adoption of digital assets. BlackRock’s iShares Bitcoin Trust led the charge, capturing the majority of inflows with $931.9 million in investor funds. Other key players, such as the Fidelity Wise Origin Bitcoin Trust and ARK’s Bitcoin ETF, also attracted significant capital.

Trading activity was unprecedented. The Options Clearing Corporation (OCC) confirmed that it was preparing for these investment vehicles, and on launch day, over 354,000 contracts were traded. Bloomberg ETF analyst James Seyffart noted a call-to-put ratio of 4.4:1, reflecting overwhelming market optimism. Eric Balchunas, another Bloomberg analyst, called the trading volumes “unheard of” for a first-day launch.

These ETFs provide investors with an alternative method to gain exposure to Bitcoin without directly holding the asset, drawing in major institutions and hedge funds that were previously on the sidelines.

MicroStrategy Doubles Down on Bitcoin Holdings

MicroStrategy, the publicly traded company synonymous with Bitcoin accumulation, also played a role in the broader market rally. On November 18, the company announced the purchase of an additional 51,780 Bitcoin at an average price of $88,627 per coin. This acquisition brought its total Bitcoin holdings to 331,200 BTC, valued at around $16.5 billion.

Chairman Michael Saylor revealed that MicroStrategy initially aimed to raise $1.75 billion to fund this purchase but increased the amount to $2.6 billion after overwhelming demand. This renewed show of confidence from Saylor, one of the most vocal Bitcoin proponents, has further fueled market enthusiasm.

Broader Market Reactions

Bitcoin’s rally has lifted the broader crypto market. Ethereum peaked at $3,387, up 32% in the past month and 46% year-to-date. Other crypto-related stocks also surged. Bitcoin miners such as Marathon Digital Holdings (MARA), Core Scientific (CORZ), and Riot Platforms (RIOT) saw strong gains before pulling back slightly.

Meanwhile, Coinbase stock experienced an 8% dip after a brief premarket rally of 3%. However, its role as a major U.S. exchange makes it a key player in crypto market growth.

Bitcoin’s climb toward $100,000 reflects a confluence of market forces, including the debut of spot Bitcoin ETFs, the growing influence of crypto-friendly leadership under President-elect Donald Trump, and record-breaking institutional inflows. As Trump assembles a team with deep ties to the crypto sector and considers a White House crypto policy advisor, the industry is poised for further growth. Analysts and investors are now watching closely to see if Bitcoin can smash through the $100,000 psychological barrier before the end of the year.