Bitcoin has broken through the $100,000 barrier for the first time and reached a new peak of nearly $104,000 late on Wednesday. The world’s most valuable cryptocurrency has been on a bullish streak since the election of President-elect Donald Trump, who has expressed support for crypto-friendly policies.
On Wednesday evening, Bitcoin reached an all-time high of $103,900 before stabilizing around $103,100 just before midnight, marking a 7.62% increase in the past 24 hours.
After hovering around $98,000 for nearly two weeks, Bitcoin finally surpassed the $100,000 mark, indicating a continuation of its post-election surge. Since election day, Bitcoin’s price has risen over 36%, starting from around $75,600.
Ether, the second most valuable cryptocurrency, also saw a boost in price following Bitcoin’s surge, reaching $3,870 on Wednesday night, a 5.4% increase in the past 24 hours. Earlier in the day, Trump announced his selection of Paul Atkins as the new chair for the Securities and Exchange Commission (SEC).
In his statement, Trump highlighted Atkins’ recognition of the importance of digital assets and other innovations in “Making America Greater than Ever Before.”
