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Bitcoin Today 11/12/2024: new US Treasury Secretary could take BTC to $100,000
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In another “green” day, Bitcoin (BTC) recorded the second consecutive day with an appreciation of more than 6%. This Tuesday (12), the increase was 6.7% and the cryptocurrency was quoted at US$87,256, according to CoinGecko.
However, the price surpassed US$88,000, establishing a new historical high. The same happened in Brazil, where BTC reached R$505,900, breaking the half-million reais barrier for the first time in history.
The biggest rise of the day was Dogecoin (DOGE), whose price rose 38% due to the launch of the Meme Index Fund (MIF), a price index focused on memecoins. MIF raised more than US$817,000 and sparked a huge upward movement: BONK also registered an increase of 18.5% in the last 24 hours.
“Although we are breaking new highs every hour, we are still not seeing many profit realizations, which gives more optimism to continue rising. The path seems clear until US$100,000,” said Fernando Pereira, an analyst at Bitget. And an appointment from the United States could consolidate this trend.
At the US Treasury Secretary
President-elect Donald Trump’s top choice for US Treasury Secretary is Scott Bessent, whose chances of taking the role have increased to 87%.
Scott Bessent created hedge fund manager Key Square Group. However, Bessent is also a supporter of cryptocurrencies, including BTC. The selection of Bessent and a pro-Bitcoin name for the US Securities and Exchange Commission, the SEC, could boost the development of a more competitive and industry-friendly market in the US.
Other potential candidates for the position of US Treasury Secretary are John Paulson, Robert Lighthizer and Howard Lutnick.
Bitcoin has seen an increase of more than 30% since Donald Trump’s electoral victory last Wednesday (06). It is now approaching $90,000 amid Trump trading and the price of BTC could soon reach $100,000 if Scott Bessent is appointed Treasury Secretary.
Bessent is very pro-crypto, particularly pro-Bitcoin. The likely Treasury Secretary has already used an effusive tone of praise when referring to cryptocurrency.
“I think everything is on the table with Bitcoin. One of the most exciting things about Bitcoin is that it attracts young people and those who have never participated in markets before. Cultivating a market culture in the US, where people believe in a system that works for them, is the centerpiece of capitalism,” said Bessent.
Bitcoin Today 11/12/2024: new US Treasury Secretary could take BTC to $100,000
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Bitcoin Today 11/12/2024: new US Treasury Secretary could take BTC to $100,000
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Bitcoin Today 11/12/2024: new US Treasury Secretary could take BTC to $100,000
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Bitcoin Today 11/12/2024: new US Treasury Secretary could take BTC to $100,000
