Bitcoin price hits $100,000 for the first time ever

Bitcoin has surpassed $100,000 as a massive rally in the world’s most popular cryptocurrency sparked by the election of Donald Trump continues.

The milestone comes just hours after the president-elect signaled a looser regulatory approach to the crypto industry with his choice of Paul Atkins to become the next chairman of the Securities and Exchange Commission.

Trump said Wednesday he plans to nominate Atkins, a former SEC commissioner during George W. Bush’s presidency. In the years since he left the agency, Atkins has spoken out against excessive market regulation.

Since Trump won the election on November 5th, Bitcoin has risen to unprecedented heights. The cryptocurrency has risen dramatically from $69,374 on Election Day to as high as $101,512 on Wednesday, just two years after falling below $17,000 thereafter the collapse of the crypto exchange FTX.

How long Bitcoin will stay above the coveted $100,000 mark is uncertain. As with everything in the volatile cryptoverse, it is impossible to predict the future. And while some are optimistic about future profits, other experts continue to warn about investment risks.

Current SEC Chairman Gary Gensler, appointed by President Biden, has aggressively monitored the crypto industry. Trump spoke at the Bitcoin 2024 conference in July vowed to fire Gensler If he is elected, he will receive a standing ovation. Gensler has since said he will resign on Jan. 20 when Trump takes office, although his five-year term runs through 2026.