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Bitcoin Hits Record $103,679 as Trump Nominates Crypto Advocate Paul Atkins for SEC Chair

Dec 5, 2024, 04:30 AM

Bitcoin has surged past the $100,000 mark for the first time, reaching an intraday high of $103,679, fueled by optimism over President-elect Donald Trump's pro-cryptocurrency stance. The cryptocurrency's value has increased approximately 138% year-to-date and has risen about 45% in the four weeks since Trump's victory on November 5. Bitcoin climbed dramatically from $69,374 on Election Day to over $100,000, marking a significant milestone. The rally was further boosted by Trump's nomination of Paul Atkins, a crypto advocate and former SEC Commissioner, to replace Gary Gensler as the head of the U.S. Securities and Exchange Commission (SEC). Investors are optimistic that the new administration will adopt crypto-friendly policies, potentially leading to relaxed regulatory oversight. The appointment of Atkins, along with expectations of pro-crypto regulatory shifts, has ignited optimism in the market, propelling Bitcoin to new heights.