Welcome Bitcoiners to the crypto revolution

Trump Cheers Bitcoin’s Record-Breaking $100,000 Surge.Welcome Bitcoiners to the crypto revolution

Donald Trump, the President-elect of the United States, has taken a victory lap on social media following Bitcoin’s historic surge past the $100,000 mark. The cryptocurrency has soared by more than 50% since Trump’s election win, and he wasn’t shy about claiming some credit for the milestone.Welcome Bitcoiners to the crypto revolution

“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” he wrote on Truth Social, his social media platform launched in September.

The post highlights Trump’s growing influence in the financial world, especially after introducing his own cryptocurrency initiative. Many Bitcoin enthusiasts have cheered the rally, crediting the optimistic market climate post-election for fueling the surge.

Whether Trump’s policies directly influenced Bitcoin’s spike or not, one thing is clear—his presence continues to make waves in both politics and the financial markets.

Following Trump’s nomination of cryptocurrency supporter Paul Atkins to lead the US securities regulator, which bolstered hopes the next administration will deregulate the industry, Bitcoin broke $100,000 for the first time on Thursday.

Since Trump’s win on November 5, when he promised to make the US the “bitcoin and cryptocurrency capital of the world,” the digital unit has experienced a lightning-fast surge.

Before falling back to almost $101,000, Bitcoin reached a record high of $103,800.45 during Asian trading hours on Thursday.

It started to rise once more after Trump’s comments, hitting $103,320.

Since the beginning of the year, the erratic asset has increased by about 140%.

But in recent weeks, its rise had stopped, hovering just below $100,000 as traders waited for fresh catalysts before making a purchase.

That followed Trump’s announcement on Wednesday that he would name Atkins to succeed him as the Securities and Exchange Commission’s chair, effective January 1.

Founded in 2009, Patomak Global Partners is a risk consulting firm with clients in the banking, trading, and cryptocurrency sectors. Atkins served as an SEC commissioner from 2002 to 2008.

Atkins has been co-chairman of the Digital Chamber of Commerce, which encourages the use of digital assets, since 2017, according to a statement from the Trump transition team.

Trump underlined Atkins’ dedication to “robust, innovative” capital markets in a statement, saying, “Paul is a proven leader for common sense regulations.”

Trump continued, “He also understands that innovations and digital assets are essential to making America better than it has ever been.”

Trump’s U-turn: Gary Gensler, who oversaw a crackdown on the industry during a market meltdown in 2022, is replaced by Atkins.

Nevertheless, this year the SEC approved the trading of two new financial instruments on the U.S. market, making it possible for a larger group of people to purchase cryptocurrencies known as exchange-traded funds, or ETFs.

What originally appeared to be a niche asset is now becoming a force transforming finance because to institutional interest and legal changes, according to Matt Britzman, a senior analyst at Hargreaves Lansdown.

“Whether you believe it or not, the rise of bitcoin is changing the rules for digital assets,” he continued.