Bitcoin's value has soared close to the significant $100,000 mark, reaching a record high of $97,659 as of Thursday in Singapore.

This surge follows optimism fueled by President-elect Donald Trump's supportive stance toward cryptocurrencies.

Trump's election victory on November 5, 2024, has prompted discussions within his transition team to potentially create a White House position focusing on digital-asset policy.

This role would directly link to the president-elect, aligning with his newfound enthusiasm for crypto.

The market has responded positively, adding about $900 billion in value since the election.

Companies like MicroStrategy Inc., a major Bitcoin holder, have announced plans to boost their investment in the digital asset with $2.6 billion in convertible senior notes.

The anticipation around Bitcoin hitting $100,000 is high, with speculation on whether this milestone is a matter of 'when' rather than 'if.' Industry analysts like Tony Sycamore note that despite potential challenges, the demand for Bitcoin remains robust.

Meanwhile, former billionaire skeptic turned crypto advocate Michael Novogratz highlighted significant Bitcoin trading activities recently.

Trump's pro-crypto agenda contrasts with past regulatory crackdowns, bringing a wave of optimism to the industry that has previously faced setbacks due to regulatory actions in 2022.