Bitcoin breaks past the $100,000 milestone today after President-elect Donald Trump announces the nomination of a new Securities and Exchange Commission boss.
In the latest news on bitcoin, Trump has finally confirmed the appointment after days of speculation. In a Truth Social post late Wednesday, the 47th U.S. president announced he had nominated Paul Atkins to be the next SEC chair.
The incoming president outlined Atkins’s qualities, stating he is a “proven leader for common sense regulation.” Trump further emphasized that the former SEC Commissioner understands digital asset innovations and has the mettle to regulate the sector efficiently.
Notably, Atkins is a popular name in the crypto industry. His pro-crypto stance has been glaring, with the Patomak Global CEO advocating for fair regulation of the digital asset sector in Congress at a time.
Bitcoin Reacts to the Appointment
Following Trump’s announcement, Bitcoin gained bullish momentum. The asset surged comprehensively from under $96,000, past the $100,000 psychological price mark, to a new all-time high of $103,620.
Bitcoin had failed in its previous attempts to break the $100,000 level, with its last attempt in late November prompting a massive correction to $90,742. However, Trump’s confirmation of Atkins as the new SEC boss contributed to the bullish push past the strong resistance.
Notably, Bitcoin is not the only beneficiary of the recent development. RSR, the native token of the Reserve Rights Foundation—a project Atkins served as an advisor to—rallied following yesterday’s confirmation, surging considerably before relinquishing most of its gains. Meanwhile, the asset has increased 110% in the past seven days on rumors of Atkins’ appointment.
Crypto Community Reacts
Bitcoin’s upswing past the $100,000 mark sparked a series of reactions from crypto industry leaders. Coinbase CEO Brian Armstrong called Bitcoin the best-performing asset in the past 12 years, stating that a $100 purchase of the asset in 2012 would be worth $1.5 million now.
American investor Robert Kiyosaki also lauded Bitcoin’s new milestone, congratulating holders of the premier asset. Furthermore, famous Bitcoin maxi Max Keiser taunted notorious critic Peter Schiff, implying he would be ruing a missed opportunity to buy Bitcoin at $10.
Meanwhile, staunch Bitcoin advocate Samson Mow teased further uptrend to $1 million. He noted that a break past $100,000 implied a smooth ride to a seven-figure Bitcoin price.
At the time of writing, Bitcoin trades at $102,651, with its market cap now surpassing $2 billion.