US President-elect Donald Trump‘s pro-crypto stance has spurred investor confidence, which has caused Bitcoin to smash the $100,000 mark.
The biggest cryptocurrency in the world reached a peak of $103,800 on Thursday, a 50% increase since Trump’s victory in the November election.
After Trump selected cryptocurrency advocate Paul Atkins to head the Securities and Exchange Commission (SEC), indicating a move towards a more benevolent regulatory landscape, the rise grew more intense.
The market has been excited by Atkins’ appointment and Trump’s promise to establish the United States as “the Bitcoin superpower of the world.”
“Bitcoin reaching $100k is an incredible milestone for our movement,” said Kris Marszalek, CEO of Crypto.com. “We never doubted. We never wavered. And we will never stop building.”
Elon Musk has been appointed to co-lead the “Department of Government Efficiency,” which is jokingly called “DOGE” after the well-known cryptocurrency Dogecoin, which has increased by 150 percent since election day, while Howard Lutnick has been appointed to the Commerce Department by Trump’s crypto-friendly administration.
