Bitcoin has exceeded $100,000 for the inaugural time as a substantial rally continues, mere hours after U. S. President-elect Donald Trump selected cryptocurrency supporter Paul Atkins to lead the U. S. Securities and Exchange Commission (SEC).
Mr. Trump stated that Mr. Atkins, the chief executive of Patomak Partners and a prior SEC commissioner, was a “proven leader for practical regulations. ”
In the years following his departure from the SEC, Mr. Atkins has argued against excessive market regulation.
Mr. Trump expressed on Truth Social: “He has faith in the potential of vigorous, innovative capital markets that cater to the needs of investors, and that furnish capital to enhance our economy to the finest in the world.
“He also acknowledges that digital assets and other innovations are essential to making America greater than ever before. ”
Bitcoin has surged to unprecedented levels since Mr. Trump secured the election on November 5.
The cryptocurrency has ascended significantly from $69,374 on Election Day and reached as high as $101,512 on Wednesday, just two years after plummeting below $17,000 following the collapse of crypto exchange FTX.
The duration for which Bitcoin will remain above the esteemed $100,000 threshold is unclear. As with everything in the erratic cryptocurrency landscape, the future is impossible to foresee.
While some are optimistic about future gains, other experts persist in cautioning about investment risks.
