Bitcoin price surges past $100,000 after Trump’s pro-crypto pick

Bitcoin price surges to six figures for the first time, an extraordinary level for a 16-year-old cryptocurrency once dismissed as a sideshow, surging to a new record after Donald Trump unveiled administration picks seen as crypto-friendly.

Bitcoin has surpassed $100,000

Bitcoin has surpassed $100,000 for the first time, fueled by President-elect Donald Trump's decision to nominate a cryptocurrency supporter to head the U.S. securities regulator.

The leading cryptocurrency reached a high of over $103,000 on Thursday, sparking celebrations among crypto enthusiasts, whose investments have more than doubled in value this year.

Trump Nominates Paul Atkins for SEC Chair, Sparking Bitcoin Surge to $100,000
A significant nomination is Paul Atkins, whom Trump intends to appoint as the head of the Securities and Exchange Commission (SEC), the agency tasked with regulating cryptocurrency.

Atkins, a cryptocurrency advocate and former SEC commissioner, is expected to adopt a more lenient stance on crypto regulation than the current chair, Gary Gensler. Gensler has been known for his aggressive approach toward curtailing the industry's expansion in the U.S. and is expected to resign on Inauguration Day.

Following Atkins' announcement as Trump's choice for SEC chair, Bitcoin surged to $100,000 just hours later.

This new milestone builds on the remarkable rally that began after Trump was projected to win the presidency on November 6, which triggered a $6,000 one-day jump in Bitcoin, pushing it to a record above $74,000. Just a week later, it reached $90,000.

So far this year, Bitcoin has risen 130%, with the post-election rally contributing significantly to its gains. Its performance significantly outpaces the S&P 500, which has increased by 28% during the same timeframe.

Comments on bitcoin surging

SHOKI OMORI, CHIEF JAPAN DESK STRATEGIST, MIZUHO SECURITIES, TOKYO
"Individual investors must be excited to see the BTC price top $100,000 following the news of Paul Atkins being nominated as SEC chair. Markets knew Gensler would be stepping down and there would be someone who is less aggressive on crypto regulations. Of course, this doesn't mean BTC will rally forever, as there will be moves to take profits.”
JEFF MEI, COO AT BTSE, HONG KONG
"Bitcoin's surge past the $100,000 mark is not just a milestone; it represents a pivotal moment for the cryptocurrency industry.”

JUSTIN D'ANETHAN, INDEPENDENT CRYPTO ANALYST, HONG KONG:
"Bitcoin crossing $100,000 is more than just a milestone; it's a testament to shifting tides in finance, technology, and geopolitics. The figure not that long ago dismissed as fantasy, stands as a reality.”

RICHARD TENG, CHIEF EXECUTIVE OFFICER, BINANCE, DUBAI:
"Almost 16 years since its first block was mined in 2009, bitcoin has reached the landmark milestone of $100K per coin, placing the asset at a total market capitalisation of $2.1 trillion.

"This also places bitcoin firmly on the very short list of just seven assets or companies that have achieved more than 2 trillion dollars in market capitalisation, the rest being gold and tech giants NVIDIA, Apple, Microsoft, Alphabet (Google), and Amazon.”

JEAN-BAPTISTE GRAFTIEAUX, CEO, BITSTAMP, LUXEMBOURG:
"Bitcoin reaching $100,000 is a watershed moment, highlighting its resilience after a challenging few years. Despite shifts in the political and regulatory landscape, bitcoin has proven its staying power.

"This milestone reflects the growing maturity of the crypto market, as traditional financial institutions and retail customers increasingly embrace digital assets. Looking ahead, we anticipate broader integration of crypto into retail, professional and institutional holdings and pensions, coupled with a more diverse range of trading services and instruments, mirroring the evolution of traditional finance."

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