$99K And Climbing: Bitcoin Reacts To Gensler’s SEC Departure Announcement

Bitcoin (BTC) jumped beyond $99,000 on Thursday, setting a new milestone before easing slightly. The milestone comes on the heels of substantial political and market events that have increased investor trust in digital assets.

Rumors of Securities and Exchange Commission (SEC) Chair Gary Gensler’s departure, as well as Donald Trump’s prospective crypto-friendly policies, have fueled the crypto space’s excitement.

Inspired by hope for a possible change in US financial policy, Bitcoin surged to $99,126 from a dismal beginning of the session. Investors still think $100,000 is in the cards particularly considering the rise in cryptocurrencies approximately 40% following Trump’s anticipated re-election win earlier this month.

A Pro-Crypto Administration?

Reports show that the government of Trump is considering the creation of the first crypto policy job, which may turn around how regulations are taken. Many think that the SEC will become more open-minded after Gensler leaves, which has been a bone of contention for long among the crypto community.

On January 20, 2025 I will be stepping down as @SECGov Chair.

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