Bitcoin Climbs Closer to $100,000 on Trump’s Support for Crypto

Bitcoin approached the historic $100,000 level, fueled by optimism that President-elect Donald Trump’s support for crypto heralds a boom as the US pivots to friendly regulations in place of a crackdown.

The largest digital asset rose as much as 4.1% to a record $98,342 on Thursday and was trading slightly above $98,000 as of 1:20 p.m. in New York. The crypto market as a whole has gained approximately $900 billion since Trump’s Nov. 5 election win.

Adding to optimism about a more crypto-friendly incoming administration, current US Securities and Exchange Commission Chair Gary Gensler said he plans to step ...