Bitcoin approaches $100,000 as Trump pledges support for crypto industry

Bitcoin is nearing $100,000, recently reaching over $97,500, driven by optimism surrounding US president-elect Donald Trump's pro-cryptocurrency stance. The cryptocurrency has more than doubled in value this year and surged 45% since Trump's election. Trump has promised to end the "persecution" of the crypto industry and aims to make the US a "bitcoin superpower." He plans to form a crypto advisory council and has suggested using Bitcoin to address the national debt. The crypto rally is also supported by the election of pro-crypto lawmakers and potential leadership roles for figures like Elon Musk. Trump intends to replace the current SEC chairman, who has enforced strict regulations on cryptocurrencies.