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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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Politics

Nigel Farage and Rupert Lowe escalate feud with new war of words

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Nigel Farage and Rupert Lowe escalate feud with new war of words

The bitter war of words between Nigel Farage and Reform MP Rupert Lowe has dramatically escalated with the pair launching fierce new personal attacks on each other.

Mr Farage revealed accusations of bullying by Mr Lowe and accused him of falling out with all his fellow Reform UK MPs, with too many “outbursts” using “inappropriate language”.

And he took the highly unusual step of quoting a Labour minister, Mike Kane, who said after a confrontation with Mr Lowe in the Commons that his anger “showed a man not in charge of his own faculties”.

On Friday, party chairman and Farage lieutenant Zia Yusuf and chief whip Lee Anderson MP disclosed accusations that two female workers had complained of “serious bullying” in Mr Lowe’s offices, and said he had been reported to police over allegations he threatened Mr Yusuf with physical violence.

Mr Lowe, who has been suspended by the parliamentary party, denied the claims.

The worsening of the feud between the Reform UK leader and the millionaire MP for Great Yarmouth came in articles in The Sunday Telegraph in which they both furiously attacked each other.

Lowe alleges ‘witch hunt’

More on Nigel Farage

Mr Lowe stepped up his verbal onslaught on Mr Farage by claiming that a “witch hunt” against him risked destroying Reform’s attempts at removing Labour from power.

And he claimed that at a time when Reform UK’s poll ratings were rising the attacks on him by the party would be a turn-off to voters, declaring: “Infighting failed the Tories – and it’s failing Reform.”

Mr Farage also began his Telegraph article by claiming: “If the last general election taught us anything, it is that the public does not like political parties that engage in constant infighting.”

But he claimed that thanks to Mr Lowe “unloading a barrage of criticisms against our operations and its main actors”, Reform’s unity has been dented.

Rupert Lowe MP. Pic: PA
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Rupert Lowe MP. Pic: PA

‘Containment strategies invariably fail’

Mr Farage said Mr Lowe had “managed to fall out with all his parliamentary colleagues in one way or another”, adding: “We did our best to keep a lid on things but, in the end, containment strategies invariably fail.”

He then referred to a Commons clash with Mr Kane just before Christmas, after Mr Lowe staged a debate about a damaged ship containing toxic cargo docked in his Great Yarmouth constituency.

“Mr Lowe was unhappy with the answer that he received from Mr Kane and, at the end of the debate, he crossed the floor to make his feelings known,” Mr Farage wrote.

“A confrontation ensued. Heated language was heard. The minister’s shoulder was pushed. In the end, the Serjeant at Arms had to step in to calm things down between the two parliamentarians.

“Commenting on Mr Lowe’s conduct later, Mr Kane (said) ‘the anger displayed towards me clearly showed a man not in charge of his own faculties’. Nobody in Reform UK said anything publicly about what had happened. Instead, we carried on.

“Yet the fact is that, sadly, there have been too many similar outbursts from Mr Lowe, often involving the use of inappropriate language, to the despair of our chief whip, Lee Anderson.

“I have been surprised and saddened at this behaviour. Certainly, I never saw anything like it in the European Parliament in 2019 when I was the leader of the Brexit Party and Mr Lowe was an MEP colleague.”

Read more:
Lowe invites Farage to dinner
Farage gives up sole control of Reform
Party passes 200,000 members

(L-R) Nigel Farage and party chairman Zia Yusuf. Pic: PA
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(L-R) Nigel Farage and party chairman Zia Yusuf. Pic: PA

On bullying allegations, Mr Farage wrote: “Last week, the chairman of Reform UK, Zia Yusuf, showed me two letters sent by female members of staff to our party headquarters. Each letter contained an accusation of workplace bullying involving Mr Lowe.

“One of the incidents in question is alleged to have taken place within the parliamentary estate. Both women’s letters stated that these allegations had been reported to the parliamentary authorities.

“As a responsible political party, Reform UK has a duty of care to every single member of staff, whether they are employed by us directly or indirectly.

“With that in mind, I believe that our chairman was entirely right for Reform to appoint a KC to conduct an independent inquiry. It is inconceivable that we could simply ignore such allegations.”

Rupert Lowe. File pic: PA
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Pic: PA

‘I will not tolerate these falsehoods’

In his Telegraph article, Mr Lowe repeated his claim that there is no credible evidence against him and he was removed from the party before any investigation had started.

“I will not tolerate these falsehoods, and discussions have already taken place with my legal team,” he wrote. “Is it a surprise that these allegations were made public the day after I made reasonable criticisms of Nigel Farage and the Reform leadership?

“It is a witch hunt, plain for all to see. I have been entirely frozen out of the Reform machine over the last few months, in a deliberate and calculated way.”

Without naming Mr Farage, deputy leader Richard Tice or Mr Yusuf, he said the Reform UK leadership was unable even to accept the most mild constructive criticism.

Turning on Mr Yusuf, he wrote: “The allegations against me from the chairman relate to an incident in December, but he only reported them to the police the day after my reasonable questioning was published.

“Take from that what you will. I don’t feel sorry for myself. I feel sorry for the millions of decent British men and women who put their faith in Reform. They deserve better than this vicious charade.”

👉 Click here to listen to Electoral Dysfunction on your podcast app 👈

And warning of the damage the feuding was causing, Mr Lowe said: “Everything has been put at risk. Everything. The future of the Right in Britain is now in peril. How can Reform claim to be a party awaiting government when they can’t even follow basic process?

“Reform has been rising in the polls for months. But this spectre of infighting will leave the party looking unserious and turn voters off. Infighting failed the Tories – and it’s failing Reform.”

But Mr Lowe concluded with an olive branch. “On multiple occasions, I have invited Nigel Farage for dinner over the last few months,” he revealed. “Every single one has been refused or ignored.

“Again, I offer a public invitation to Nigel. Let’s have dinner and resolve this in the matter that our members, supporters and country would expect. Any time, any place.”

He added: “I want Reform to be professional, to be fair, to be serious. We must offer a credible alternative to the uniparty that has so failed so spectacularly.

“The leadership’s behaviour this week has undermined that cause, not only in the eyes of the electorate, but also in those of serious individuals across business and industry that any party of government needs to win over.”

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Politics

Negotiators appeal to man to come down from Big Ben clock tower

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Negotiators appeal to man to come down from Big Ben clock tower

Negotiators at Westminster have been trying to persuade a man to come down after he scaled the clock tower which houses Big Ben.

The barefoot man has been spoken to by emergency crews and negotiators a number of times during the day but he remains several metres up the Elizabeth Tower on a ledge where he is holding a Palestinian flag in an apparent protest.

The Metropolitan Police said they were called to the scene in central London at 7.24am on Saturday.

Photographs have shown the man sat on the ledge with the flag and a keffiyeh, a headdress worn by men in the Middle East, wrapped around the decorative stonework on the tower.

A large red stain which appears to be blood can be seen on the side of the tower around the climber’s feet.

The bare-footed protester is holding a Palestinian flag. Pic: PA
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The barefoot man is holding a Palestinian flag. Pic: PA

Following the security breach at Parliament, a fire engine later raised an aerial ladder platform to the same height as the man’s position.

Three people standing on the platform have been talking to the man, who is several feet away.

Climber shares videos on social media

The climber has been sharing videos on Instagram from his viewpoint on the tower.

He tells negotiators he will come down “on his own terms”.

In the footage, negotiators appear to raise concerns about an injury to his foot, saying there is “quite a lot of blood” and that his clothes are not warm enough as temperatures drop after sunset.

But the man insists he is safe and says: “I will come down on my own terms, I have said this. But right now I am saying I am safe.

“If you come towards me you are putting me in danger and I will climb higher.”

Also in a video, a woman in plain clothes says: “At some point you have to come down. How long do you think you are going to be there? How long do you think you are able to be there?”

Her voice is then barely audible as she appears to say “your message was to say ‘Free Palestine'” before she encourages him to come down.

In one of the other videos, the man seems to suggest he plans to stay on the ledge for three and a half days.

X
Image:
People in a cherry picker talk to the man

The whole of Westminster Bridge was closed later in the morning as emergency services responded to the incident.

And parliamentary tours on Saturday were cancelled.

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‘Unbelievable he’s up there’

A Metropolitan Police spokesperson said: “Officers are at the scene working to bring the incident to a safe conclusion. They are being assisted by the London Fire Brigade and the London Ambulance Service.”

Bridge Street, which is at the north end of Westminster Bridge, has been closed to allow emergency services to deal with the incident.

Pic: AP
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Pic: AP

The man who has climbed up Big Ben this morning
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The man before the cherry picker was raised

Pic: PA
Image:
Pic: PA

At least nine emergency service vehicles have lined the street in central London as crowds look on from beyond a police cordon.

A parliamentary spokesperson said: “We are aware of an incident on the Parliamentary Estate this morning, which is being handled by the Metropolitan Police, assisted by the London Fire Brigade and the London Ambulance Service.

“Parliament takes security extremely seriously, however we do not comment on the specifics of our security measures or mitigations. As a result of this incident, tours of the Parliamentary Estate today have unfortunately had to be cancelled.”

It comes as dozens of people gathered for a pro-Palestinian protest in London.

The crowd assembled on the corner of Parliament Square and appeared to be showing support for the man who climbed up Big Ben.

Trump’s Turnberry golf course vandalised

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‘Gaza not for sale’ on Trump golf course

The protest in Westminster comes as the Palestine Action group said it had sprayed “Gaza is not for sale” on Donald Trump’s Turnberry golf course in Scotland.

Sharing an image of the vandalism on Saturday morning, the group wrote on X: “Whilst Trump attempts to treat Gaza as his own property, he should know his own property is within reach.”

The Turnberry protest comes after the American president claimed the US will “take over the Gaza Strip and we will do a job with it too”.

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Environment

Meet the newest EV from Hyundai – new HX19e electric excavator

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Meet the newest EV from Hyundai – new HX19e electric excavator

The HD arm of Hyundai has just released the first official images of the new, battery-electric HX19e mini excavator – the first ever production electric excavator from the global South Korean manufacturer.

The HX19e will be the first all-electric asset to enter series production at Hyundai Construction Equipment, with manufacturing set to begin this April.

The new HX19e will be offered with either a 32 kWh or 40 kWh li-ion battery pack – which, according to Hyundai, is nearly double the capacity offered by its nearest competitor (pretty sure that’s not correct –Ed.). The 40kWh battery allows for up to 6 hours and 40 minutes of continuous operation between charges, with a break time top-up on delivering full shift usability.

Those batteries send power to a 13 kW (17.5 hp) electric motor that drives an open-center hydraulic system. Hyundai claims the system delivers job site performance that is at least equal to, if not better than, that of its diesel-powered HX19A mini excavator.

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To that end, the Hyundai XH19e offers the same 16 kN bucket breakout force and a slightly higher 9.4 kN (just over 2100 lb-ft) dipper arm breakout force. The maximum digging depth is 7.6 feet, and the maximum digging reach is 12.9 feet. Hyundai will offer the new electric excavator with just four selectable options:

  • enclosed cab vs. open canopy
  • 32 or 40 kWh battery capacity

All HX19es will ship with a high standard specification that includes safety valves on the main boom, dipper arm, and dozer blade hydraulic cylinders, as well as two-way auxiliary hydraulic piping allows the machine to be used with a range of commercially available implements. The hydraulics needed to operate a quick coupler, LED booms lights, rotating beacons, an MP3 radio with USB connectivity, and an operator’s seat with mechanical suspension are also standard.

Like its counterparts at Volvo CE, the new Hyundai excavator uses automotive-style charging ports to take advantage of existing infrastructure at fleet depots and public charging stations. More detailed specifications, dimensions, and pricing should be announced by bauma.

Electrek’s Take

HX19e electric mini excavator; via Hyundai Construction Equipment.

The ability to operate indoors, underground, or in environments like zoos and hospitals were keeping noise levels down is of critical importance to the success of an operation makes electric equipment assets like these coming from Hyundai a must-have for fleet operators and construction crews that hope to remain competitive in the face of ever-increasing noise regulations. The fact that these are cleaner, safer, and cheaper to operate is just icing on that cake.

SOURCE | IMAGES: HD Hyundai; via Construction Index, Equipment World.

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