Bitcoin (BTC-USD) Jumps to a Record High as Investors Eye Targets of $100,000

Bitcoin (BTC-USD) jumped to a record high Thursday morning, trading just north of $98,000 before paring gains as investors remain bullish on pro-crypto policies from the incoming Trump administration.

(BTC-USD) hit a record high Thursday morning, trading just shy of $98,000 before paring gains as investors remain bullish on pro-crypto policies from the incoming Trump administration.

multiple milestones this week as investors eye targets of $100,000.

Reports of President-elect Donald Trump's transition team discussing the possibility of a first-ever role for crypto policy also sent the token to new highs over the past 24 hours.

Read more: Bitcoin clears another record: Is this a good time to invest?

GLXY.TO, BRPHF) CEO Mike Novogratz told Yahoo Finance on Wednesday that whomever Trump chooses to head the SEC will be positive for bitcoin given the "overall pro-crypto attitude" of the president-elect's team.

DJT) is in advanced talks to acquire crypto trading company Bakkt (BKKT), a tie-up that could further encourage initiatives within the sector.

massive inflows in recent weeks.

Yahoo Finance's David Hollerith reported earlier this week, BlackRock’s spot bitcoin ETF (IBIT) saw its assets rise by $13 billion in the wake of Trump's presidential win, according to Yahoo Finance data. This pushed assets in the iShares Bitcoin Trust past $40 billion just 10 months after its launch.

Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.

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