NEW YORK (AP) As the world’s most popular cryptocurrency continues its enormous climb triggered by Donald Trump’s election, Bitcoin has surpassed the $100,000 milestone.
The achievement occurs just hours after the president-elect appointed Paul Atkins as the next chair of the Securities and Exchange Commission, indicating a less stringent regulatory stance toward the cryptocurrency sector.
Trump announced on Wednesday that he plans to select Atkins, who served as the SEC commissioner under George W. Bush. Atkins has spoken against excessive market regulation in the years since he left the FCC.
Since Trump won the election on November 5, Bitcoin has increased to previously unheard-of levels. In just two years, the cryptocurrency has risen sharply from $69,374 on Election Day to as high as $101,512 on Wednesday, after plunging below $17,000 after the collapse of cryptocurrency exchange FTX.
It’s unclear how long bitcoin will remain over the highly sought-after $100,000 threshold. The future is unpredictable, much like everything else in the unstable cryptoverse. Other experts continue to caution about the hazards associated with investing, even while others are optimistic about future profits.
The Associated Press, 2024. All rights reserved. All rights reserved. It is prohibited to publish, broadcast, rewrite, or redistribute this content without authorization.
Note: Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If an error is identified, we promptly correct it and strive for transparency in all updates, feel free to reach out to us via email. We appreciate your trust and support!