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Trump Effect Unstoppable: Bitcoin Passes $100,000

Cryptocurrency Takes Flight After President-Elect Picks Its Supporter to Head US Regulator

Dec 5, 2024 06:51 297

Trump Effect Unstoppable: Bitcoin Passes $100,000  - 1

Bitcoin crossed $100,000 today for for the first time in its history, rising in Asian trade after Donald Trump announced his choice of a cryptocurrency supporter to head the US regulator, reported France Press, quoted by BTA.

A little after 02:30. GMT (04:30 Bulgarian time), the cryptocurrency with the largest market capitalization was trading at $100,102.

The electronic currency gained about 4% overnight. At the heart of this new "fever attack" was announced yesterday by US President-elect Donald Trump's intention to appoint Republican attorney Paul Atkins, a supporter of cryptocurrency development, to head the US financial markets regulator, the Securities and Exchange Commission (SEC), after he is sworn in.< /p>

Last year, Atkins publicly criticized the regulator's chiefs, saying they should have been "friendlier" with companies offering digital currencies and said their approach is driving entrepreneurs away from the US market.

"Paul has proven his orientation towards regulations characterized by common sense /.../ He recognizes that digital assets are a key factor in making America greater than ever," Donald Trump noted on his social platform "Truth Social".

After Trump's victory in the US presidential election on November 5, the value of Bitcoin increased by more than 40%. The president-elect, who will take office next January, has promised to make the US the "cryptocurrency capital of the world" and talks about the creation of a strategic national reserve of bitcoins.