Bitcoin Breaks $100,000 Amid Trump’s Pro-Crypto SEC Chair Appointment

Bitcoin has soared past $100,000 for the first time, reaching over $103,000 after President-elect Donald Trump announced Paul Atkins as the new chair of the SEC. This selection is viewed as a major win for the cryptocurrency sector, signaling potential regulatory relief under Atkins compared to the stricter approach of outgoing chair Gary Gensler.

A Shift in Stance

Once a critic of Bitcoin, calling it “not money,” Trump has embraced cryptocurrency, pledging to strengthen the U.S. position as a leader in the crypto space. His administration promises initiatives such as a “strategic national Bitcoin stockpile.”

Community Reactions

Crypto advocates, like Anthony Pompliano, are excited, with Pompliano proclaiming, “If you like Bitcoin at $100,000, you’re going to love it at $1 million!” This enthusiasm reflects a growing belief in Bitcoin as a future reserve currency.

Ongoing Challenges

Despite the excitement, skepticism remains. Some regulators, including Federal Reserve Chair Jerome Powell, have labeled Bitcoin a speculative asset, highlighting ongoing debates over its legitimacy.

With Trump’s leadership and Atkins’s expected confirmation, the future of Bitcoin and digital assets looks poised for a transformative journey. The community is eager to see what supportive policies might emerge, potentially redefining the cryptocurrency landscape.$BTC