Bitcoin price reaches $100,000-mark for first time ever
Bitcoin has surpassed the $100,000 mark amid a massive rally in the world’s most popular cryptocurrency triggered by the election of Donald Trump.
The milestone came just hours after the president-elect signaled for lighter regulatory measures on the crypto industry he chose paul atkins Serve as the next Chairman of the Securities and Exchange Commission.
Trump said Wednesday he intends to nominate Atkins, who served as a commissioner on the Securities and Exchange Commission under President George W. Bush. In the years since leaving the agency, Atkins has campaigned against excessive market regulation.
Since Trump won the election on November 5, Bitcoin has soared to unprecedented heights. The cryptocurrency climbed sharply from $69,374 on Election Day to $101,512 on Wednesday, just two years after Bitcoin fell below $17,000. The collapse of cryptocurrency exchange FTX.
How long Bitcoin will remain above the coveted $100,000 mark is uncertain. As with everything in the volatile crypto world, the future is unpredictable. While some experts are bullish on future gains, others continue to warn of investment risks.
Current SEC Chairman Gary Gensler, appointed by President Biden, has been aggressive in his oversight of the crypto industry. Trump speaks at Bitcoin 2024 conference in July Vows to fire Gensler If elected, he would receive a standing ovation. Gensler has since said he will resign upon Trump’s inauguration on January 20, although his five-year term will run until 2026.
