Bitcoin surpassed $100,000 for the first time on Thursday as traders celebrated Donald Trump’s choice of a crypto enthusiast to head the U.S. securities regulator, fueling optimism that the new president will implement deregulatory measures for the sector.
The cryptocurrency surged past the $100,000 mark, continuing its rapid rally since Trump’s November 5 election win. During his campaign, Trump had promised to make the United States the “bitcoin and cryptocurrency capital of the world.”
Bitcoin has risen over 50% since Trump’s victory and approximately 140% since the start of the year.
Despite this, the cryptocurrency’s upward momentum—reaching a peak of $103,800.44 before retreating to just below $103,000 in the afternoon—had slowed in recent weeks as traders awaited new catalysts to drive further investments.
