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Bitcoin rose above $100,000 for the first time on Thursday as the election of Republican Donald Trump as president of the United States spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.

Bitcoin has more than doubled in value this year and is up about 45% in the four weeks since Trump’s sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.

It last traded at $100,027 as of 0240 GMT, up 2.2% on the previous session, after earlier rising as high as $100,277.

“We’re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” said Mike Novogratz, founder and CEO of US crypto firm Galaxy Digital.

“This momentum is fueled by institutional adoption, advancements in tokenization and payments, and a clearer regulatory path.”

More than 16 years after its creation, bitcoin appears on the cusp of mainstream acceptance, despite naysayers and a history of controversies.

“Bitcoin crossing $100,000 is more than just a milestone; it’s a testament to shifting tides in finance, technology, and geopolitics,” said Justin D’Anethan, a Hong Kong-based independent crypto analyst.

“The figure not that long ago dismissed as fantasy, stands as a reality.”

Trump embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.

Crypto investors see an end to increased scrutiny under US Securities and Exchange Commission Chair Gary Gensler, who said last week he wouldstep downin January when Trump takes office.

On Wednesday, Trump said he would nominate Paul Atkins to run the Securities and Exchange Commission. Atkins, a former SEC commissioner, has been involved in crypto policy as co-chair of the Token Alliance, which works to “develop best practices for digital asset issuances and trading platforms,” and the Chamber of Digital Commerce.

A slew of crypto companies including Ripple, Kraken and Circle arejostlingfor a seat on Trump’s promised crypto advisory council, seeking a say in his planned overhaul of US policy, according to several digital asset industry executives.

Trump’s businesses may also have a stake in the sector.

He unveiled a new crypto business, World Liberty Financial, in September.

Although details about the business have been scarce, investors have taken his personal interest in the sector as a bullish signal.

Trump’s social media company is inadvanced talksto buy crypto trading firm Bakkt, the Financial Times reported last week, citing two people with knowledge of the talks.

Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, according to the FT report.

Billionaire Elon Musk, a major Trump ally, is also a proponent of cryptocurrencies.

Bitcoin’s rebound from a slide below $16,000 in late 2022 has been rapid, boosted by the approval of US-listed bitcoin exchange-traded funds in January this year.

The Securities and Exchange Commission had long attempted to block ETFs from investing in bitcoin, citing investor protection concerns, but the products have allowed more investors, including institutional investors, to gain exposure to bitcoin.

More than $4 billion has streamed into US-listed bitcoin exchange-traded funds since the election.

“We were trading basically sideways for about seven months, then immediately after November 5, US investors resumed buying hand-over-fist,” said Joe McCann, CEO and founder of Asymmetric, a Miami digital assets hedge fund.

There was a strong debut for options on BlackRock’s ETF,in November with call options – bets on the price going up – substantially more popular than puts. McCann calculated the put to call ratio at about 22 to one.

Crypto-related stocks have soared along with the bitcoin price, with shares in bitcoin miner MARA Holdings,up around 65% in November.

Yet the rise is not without critics.

Two years ago, the industry was wracked by scandal with the collapse of the FTX crypto exchange and the jailing of its founder Sam Bankman-Fried.

The cryptocurrency industry also has been criticized for its massive energy usage, while crypto crime remains a concern, too.

Market participants are keeping a close eye on what happens now that bitcoin has broken above $100,000, with investors and speculators possibly looking to pocket some of their recent gains.

“But once we flush out those sell orders, this could go higher still, and very rapidly,” said Steven McClurg, founder of Canary Capital, a digital assets investment firm.

He said he expects bitcoin’s price to hit $120,000 by Christmas.

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Top vote-getters Judge, Ohtani first two in ASG

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Top vote-getters Judge, Ohtani first two in ASG

NEW YORK — The Los Angeles DodgersShohei Ohtani and the New York YankeesAaron Judge were the first players picked for the July 15 All-Star Game at Atlanta’s Truist Park, elected as starters by fans Thursday.

Judge led the major leagues with 4,012,983 votes in the first round of fan balloting, and the outfielder was picked for his seventh American League start in eight All-Star Games, though he missed the 2023 game because of a sprained right big toe. He was also the leading vote-getter during the first phase in 2022 and last year.

Ohtani topped the National League and was second in the big leagues with 3,967,668 votes, becoming the first designated hitter to start in five straight All-Star Games.

The pair was selected under rules that began in 2022 and give starting spots to the top vote-getter in each league in the first phase of online voting, which began June 4 and ended Thursday. Two finalists at every other position advanced to the second phase, which runs from noon ET on Monday to noon ET on July 2. Votes from the first phase do not carry over.

An individual can vote once per 24-hour period.

Remaining starters will be announced July 2. Pitchers and reserves will be revealed July 6.

Seven players from the World Series champion Dodgers advanced to the second phase along with three each from the Chicago Cubs, Detroit Tigers and New York Mets, and two apiece from the Cleveland Guardians, Yankees and Toronto Blue Jays.

AL finalists: Catcher: Alejandro Kirk, Cal Raleigh; First base: Paul Goldschmidt, Vladimir Guerrero Jr.; Second Base: Jackson Holliday, Gleyber Torres; Third Base: Alex Bregman, José Ramírez; Shortstop: Jacob Wilson, Bobby Witt Jr.; Designated Hitter: Ryan O’Hearn, Ben Rice; Outfield: Javier Báez, Riley Greene, Steven Kwan, Mike Trout

NL finalists: Catcher: Carson Kelly, Will Smith; First Base: Pete Alonso, Freddie Freeman; Second Base: Tommy Edman, Ketel Marte; Third Base: Manny Machado, Max Muncy; Shortstop: Mookie Betts, Francisco Lindor; Outfield: Ronald Acuña Jr., Pete Crow-Armstrong, Teoscar Hernández, Andy Pages, Juan Soto, Kyle Tucker

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Giants CEO: Bonds to get statue at Oracle Park

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Giants CEO: Bonds to get statue at Oracle Park

SAN FRANCISCO — Barry Bonds will be getting a statue outside the San Francisco Giants‘ home stadium where he set baseball’s career home run record, the team’s CEO said Thursday.

Larry Baer, Giants president and chief executive officer, was asked during a radio interview about a statue for Bonds, and he responded that it was “on the radar.” But Baer didn’t have any details of when it would happen.

“Barry is certainly deserving of a statue, and I would say should be next up,” Baer said during an appearance on San Francisco’s 95.7 The Game. “We don’t have the exact location and the exact date and the exact timing. … It’s coming. All I can say is it’s coming.”

Bonds played for San Francisco the last 15 of his 22 big league seasons, hitting 586 of his 762 homers while with the Giants from 1993 to 2007. He set the single-season MLB record with 73 homers in 2001, and hit his record-breaking 756th homer to pass Hank Aaron in a home game off Washington’s Mike Bacsik on Aug. 7, 2007.

There are currently five statues outside Oracle Park, those of Hall of Famers Willie Mays, Willie McCovey, Juan Marichal, Gaylord Perry and Orlando Cepeda. The Giants retired Bonds’ No. 25 jersey in 2018.

Bonds, a seven-time MVP and 14-time All-Star, is not in the Hall of Fame. He failed to reach the 75% threshold required during his 10 years on the Baseball Writers Association of America’s Hall of Fame ballot, mostly because of steroids allegations that dogged him during his final years with the Giants. The Contemporary Player Committee also passed on electing Bonds in 2022, though the committee could reconsider Bonds’ status.

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Kershaw K’s 5, sets up home chance at 3,000

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Kershaw K's 5, sets up home chance at 3,000

DENVER — Los Angeles Dodgers left-hander Clayton Kershaw inched closer to 3,000 career strikeouts Thursday, fanning five in six innings against the Colorado Rockies.

Kershaw has 2,997 strikeouts in his 18-year career, three short of becoming the 20th major leaguer to reach the milestone.

Kershaw’s next scheduled start is expected at Dodger Stadium on Wednesday against the Chicago White Sox.

“I knew I had eight to go,” Kershaw said. “Eight in Colorado is never going to be easy to do. I felt good. But pitched well, got through six. A chance to strike out three at home would be really cool.”

The 37-year-old will be the third active pitcher to reach the mark behind Justin Verlander and Max Scherzer. Verlander, in his 20th season, has 3,468 strikeouts. Scherzer has 3,412 in 18 seasons.

“He’s certainly competing, making pitches,” manager Dave Roberts said. “I think he has gotten better each time out, even with not the best of stuff. He just found a way to be efficient.”

Kershaw struck out three in the first two innings Thursday and got his fourth for the final out of the fifth. He struck out Tyler Freeman for the second out of the sixth inning and left the game after retiring the next batter. Kershaw threw 69 pitches, 41 for strikes.

“You always want to be efficient, no matter what,” Kershaw said. “My days of throwing 115 pitches is probably over. Getting through six is probably the biggest thing at Coors Field.

“Doc [Roberts] is doing a good job of protecting me, which I appreciate. I just want to be able to go back out there every fifth, sixth day. Whatever that means is good for now.”

Kershaw recorded two strikeouts on his 73 mph curve and got three more on sliders against a Rockies lineup that had all right-handed batters. He earned his fourth straight win and helped the Dodgers finish a three-game sweep with a 3-1 victory.

The three-time National League Cy Young Award winner and 10-time All-Star received plenty of crowd support in Colorado, getting a standing ovation from some in the Coors Field crowd when he left the mound after the sixth inning.

Kershaw has made eight starts this season after being activated from the injured list May 17 following offseason left knee and foot surgeries. His ERA dropped to a season-low 3.03 after Thursday’s game.

“He has given us a shot in the arm,” Roberts said. “We’re sort of ailing on the starting pitching side. Coming in and giving us valuable innings, I just love that kind of edge that he gives on start day. We certainly feed off that.”

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