Bitcoin surpasses $100,000 for the first time as rally continues after Trump election

Bitcoin surpassed $100,000 on Wednesday for the first time in its history, extending the good momentum for the world’s most popular digital currency after Donald Trump’s election victory.

The milestone came hours after the president-elect hinted at a looser regulatory stance for the cryptocurrency industry by signaling that he intends to nominate Paul Atkins, a virtual currency advocate, to be the next president of the United States Securities and Exchange Commission (SEC).

Bitcoin has reached unprecedented levels since Trump won the election on November 5. The cryptocurrency has seen a drastic rise from $69,374 on election day to $103,713 on Wednesday, according to CoinDesk.

Just two years ago, bitcoin fell below $17,000 following the collapse of the cryptocurrency exchange FTX.

How long it will remain above the coveted $100,000 mark is anyone’s guess. Early Thursday it fell below $102,000. Like everything in the volatile cryptocurrency universe, the future is impossible to predict. And while some are optimistic about future profits, other experts continue to warn about investment risks.

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