Bitcoin passes $100,000 for first time
While Warn Risks Gains, File Future Lennihan/ap Other Some Investment Of On Picture: Continue Experts Bullish Mark Are To
Bitcoin has topped $100,000 for the first time as a massive rally rolls on, only hours after US President-elect Donald Trump picked crypto advocate Paul Atkins to lead the US Securities and Exchange Commission (SEC).
Mr Trump said Mr Atkins, the chief executive of Patomak Partners and a former SEC commissioner, was a “proven leader for common sense regulations”.
In the years since leaving the SEC, Mr Atkins has made the case against too much market regulation.
Mr Trump wrote on Truth Social: “He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World.
“He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
Bitcoin has soared to unprecedented heights since Mr Trump won the election on November 5.
The cryptocurrency has climbed dramatically from $69,374 on Election Day and rose as high as $101,512 on Wednesday, just two years after dropping below $17,000 following the collapse of crypto exchange FTX.
How long Bitcoin will stay above the coveted $100,000 mark is uncertain. As with everything in the volatile cryptoverse, the future is impossible to predict.
While some are bullish on future gains, other experts continue to warn of investment risks.