Crypto Rise and Trump
Bitcoin hit $100,000 mark for the first time ever on Wednesday evening and rising to a new high on Thursday.
The Coin price rose from $69,121 the day before Election Day to $74,445 as on Nov. 6, the day after the election. Surge has continued since then, and it surpass $80,000 mark on Nov. 10 and By Nov. 13, it was trading above $92,800 mark.
Bitcoin hit $100,000 just hours after Paul Atkins announced as Trump’s nomination to lead the Securities and Exchange Commission (SEC), who regulates cryptocurrency and by Thursday it rose above $103,000.
Paul Atkins, Former SEC commissioner, is against the too much market regulations than Gary Gensler, who leads the SEC under the Biden administration. Gensler, who cracked down on the crypto industry in the US, is set to resign when Trump takes office.
Atkins was commissioner of the Securities and Exchange Commission under George Bush administration. In 2017, Paul joined the Token Alliance Org, a cryptocurrency advocacy organization after SEC and currently serving as a CEO of consulting firm Patomak Partners.
On Truth Social, Trump said “Congratulations Bitcoiners!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!.“
Trump campaigned for more favorable regulatory policies to bitcoin and other cryptocurrencies as well as digital assets.
He pledged to make America the “crypto capital of the planet” and “bitcoin superpower of the world” at a summer conference and also said that he would form a crypto advisory board.
