Bitcoin’s (COIN:BTCUSD) price rose over $100,000 for the first time as its recent bull run continued. The cryptocurrency has been boosted by Donald Trump’s victory in the recent U.S. election. It is currently at $102,717.
Trump supports cryptocurrency, and he has pledged to make the U.S. “the crypto capital of the planet.” Crypto enthusiasts have seen this as a sign that there will be a loosening of the regulatory stranglehold that has been holding cryptocurrency back; Trump has said that he will sack Gary Gensler, the current chair of the Securities and Exchange Commission, who has led the crackdown on the crypto industry.
The new milestone for Bitcoin was reached after Trump said he would nominate former SEC regulator Paul Atkins to run the Wall Street regulator.
Trump has also talked about creating a strategic bitcoin stockpile.
This has led to a renewed interest Bitcoin, and the price has been rising steadily since the result of the presidential election, when it was at $67,333 – a 52% increase.