ALBAWABA - Bitcoin, the first decentralized cryptocurrency, set a new record today by surpassing $100,000 for the first time ever in history. This significant surge follows the announcement of the new head of the US Securities and Exchange Commission (SEC) by US President-elect Donald Trump.
Bitcoin hits $100,000 after Trump’s latest announcement
Donald Trump, the US President-elect Donald, announced the new head of the US Securities and Exchange Commission (SEC), Paul Atkins, a strong supporter of cryptocurrency.
“Paul is a proven leader for common sense regulations. He also recognizes that digital assets and other innovations are crucial to Making America Greater than Ever Before,“ Trump stated.
Following the announcement, Bitcoin surpassed $100,000 for the first time ever in history. The cryptocurrency increased by approximately 7.12% over the past 24 hours to record $102,751, according to CoinMarketCap.
It is worth noting that Bitcoin increased by more than 50% since the US presidential election and Trump’s win on November 5.
Additionally, Ethereum, the world’s second-largest cryptocurrency, rose by nearly 5.30% in the past 24 hours, reaching $3,869.
The cryptocurrency increased by approximately 7.12% over the past 24 hours to record $102,751, according to CoinMarketCap.
Trump supports Bitcoin
Upon winning the US presidential election, Trump promised to establish a Bitcoin reserve and support the growth of the US Bitcoin mining sector.
“If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the US government currently holds or acquires into the future,” Trump stated previously.
James Butterfill, CoinShares Head of Research, commented: “We would argue that prices could rise further given we have a combination of positive political momentum, social media hype, a continuation of interest rate cuts and the prospects of Bitcoin becoming a strategic reserve asset in the US.”
