Bitcoin Price Hits Record High
- Jermaine Filmore
- Dec 12, 2024
- 1 min read
Bitcoin reached an all-time high of $103,647 on Dec. 5, 2024. The milestone capped a year of significant developments for the cryptocurrency, including the January 2024 approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), which allowed mainstream investors easier access to the asset through traditional brokerage accounts.
The roughly 48% surge from prices of about $70,000 before the election came amid investor exuberance over Trump's crypto-friendly campaign promises, including a pledge to fire current SEC Chair Gary Gensler, who has often been critical of cryptocurrencies.
Trump tapped Paul Atkins, CEO of the consulting firm Patomak Global Partners and a former SEC commissioner, to chair the SEC in his administration. In the years since leaving the SEC, Atkins has argued against too much SEC regulation and has been seen as a crypto advocate.
Comments