The nomination of Atkins to the post of chairman of the US Securities and Exchange Commission and the launch of the first exchange-traded funds created a strong momentum for the crypto market
The value of Bitcoin exceeded $100,000 for the first time in history. Its historic rise came amid hopes of support for the crypto market by the new administration of Donald Trump. This is reported by The Financial Times.
The price of Bitcoin rose 6.1% to $103,800, representing a more than 50% increase since the presidential election in November.
Donald Trump previously nominated Paul Atkins to be the chairman of the US Securities and Exchange Commission (SEC), a move that has fueled optimism about a possible easing of regulatory restrictions on the cryptocurrency sector.
The president has also appointed several cryptocurrency advocates to key positions, including Howard Lutnick to head the Commerce Department, and Elon Musk, known for his interest in the cryptocurrency Dogecoin, to head the newly created “Department of Government Efficiency.”
Atkins’ nomination and the launch of the first Bitcoin exchange-traded funds (ETFs) planned for January have created strong momentum for the market. In the wake of this news, Dogecoin, which Musk has been actively promoting, has also shown significant growth, rising 150% since the election.
Crypto.com CEO Chris Marschalek called Bitcoin’s $100,000 price a “historic milestone” for the industry. Analysts predict that the Trump administration could create a favorable environment for the development of cryptocurrencies. New regulatory changes are expected to attract significant investment from large asset managers, which could mark the beginning of a “golden era.”
“The demand for cryptocurrencies is almost unstoppable,” said Jeff Kendrick, head of digital asset research at Standard Chartered.
Donald Trump’s shift in rhetoric on cryptocurrencies, which he previously called a “fraud,” comes as crypto investors poured heavily into his campaign. Now, with a focus on the cryptocurrency market, the Trump administration is promising to make the United States a “bitcoin superpower.”
Analysts and investors are optimistic about the further development of the industry, seeing significant potential for the expansion of the cryptocurrency market in the regulatory policy of the new administration.
Recall that the team of newly elected US President Donald Trump is considering the possibility of creating the first position in the history of the White House dedicated exclusively to cryptocurrency policy.
By the way, billionaire Elon Musk promised to cut hundreds of federal agencies in the US, but asked to be notified if important expenses were included in the cuts. On the social network X, the businessman, who will head the structure for reducing budget expenditures under the administration of US President-elect Donald Trump, said that he would make a list of the stupidest expenses in the US budget.
