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Bloomberg Businessweek
Bitcoin Soars Past $100,000 on Trump’s Pro-Crypto Pick for SEC Head
Dec 5, 2024
Lynlee Brown is a Partner at Ernst & Young, specializing in global trade, while Julie Smolyansky is the CEO of Lifeway Foods, renowned for its kefir products. They dive into Bitcoin's significant rise past $100,000, fueled by Trump's pro-crypto SEC head pick, and discuss the implications for regulation and market sentiment. Lynlee also touches on how proposed tariffs could impact U.S. automakers, and Julie shares insights on Lifeway's market leadership and rejection of a takeover offer, signaling a strong future for the brand.
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Quick takeaways
- Bitcoin's surge past $100,000 highlights the impact of regulatory anticipation under the new pro-crypto SEC leadership.
- Increasing institutional investment in Bitcoin signals a potential shift towards its acceptance as a legitimate asset class for retail investors.
Deep dives
Bitcoin's Surge to $100,000
The price of Bitcoin reached $100,000, reflecting significant excitement within the cryptocurrency community. This surge in value was driven in part by the anticipation of relaxed regulations following President-elect Trump's nomination of a pro-crypto head for the SEC. Enthusiasts noted that such milestones not only attract media attention but also create momentum, encouraging more investors to participate. Despite the celebration, skepticism remains among some investors who question the underlying value of Bitcoin at such high prices.
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