Bitcoin has crossed the $100,000 mark due to the huge rise in the world's most popular cryptocurrency after the election of Donald Trump.
This milestone comes just hours after the President-elect signaled a lighter regulatory approach for the crypto industry With your choice of Paul Atkins Will be the next Chairman of the Securities and Exchange Commission.
Trump said Wednesday that he intends to nominate Atkins, a former SEC commissioner during George W. Bush's presidency. In the years since leaving the agency, Atkins has made the case against excessive market regulation.
Bitcoin has reached unprecedented highs since Trump won the election on November 5. The cryptocurrency has climbed dramatically from $69,374 on election day to $101,512 on Wednesday, exactly two years after falling below $17,000. The collapse of crypto exchange FTX,
How long Bitcoin will remain above the coveted $100,000 mark is uncertain. Like everything else in the volatile cryptoverse, it is impossible to predict the future. And while some are excited about future gains, other experts continue to warn about investment risks.
Current SEC Chairman Gary Gensler, appointed by President Biden, has been aggressive in monitoring the crypto industry. Trump speaking at the Bitcoin 2024 conference in July vowed to fire Gensler When elected, one is given a standing ovation. Gensler has since said he will step down on January 20 when Trump takes office, even though his five-year term runs through 2026.