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Bitcoin Surpasses $100,000 Benchmark For The First Time

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Bitcoin Surpasses $100,000 Benchmark For The First Time

Reading time: 2 min

Posted on Dec 5, 2024

Written by Andrea Miliani Tech News Expert

Bitcoin surpassed $100,000 for the first time today, a milestone linked to recent policy decisions by the incoming U.S. administration under newly elected President Donald Trump.

In a Rush? Here are the Quick Facts!

Bitcoin reached an all-time high of $103,619 this Thursday, surpassing the $100,000 milestone
The record was hit just a few hours after Donald Trump announced Paul Atkins as Chairman of the Securities and Exchange Commission
Atkins is known for his pro-crypto approach and crypto supporters expect the new Chairman to ease regulation in the United States

According to Reuters, the world’s largest cryptocurrency hit an all-time high of $103,619 a few hours after Trump announced Paul Atkins—a strong advocate for cryptocurrency adoption—to run the Securities and Exchange Commission (SEC).

Bitcoin has more than doubled its value this year 2024 and rose over 50% after the recent U.S. election. Last month, the cryptocurrency hit a record high of over $82,000 just a few days after Donald Trump was elected as the next president of the United States, as the candidate had shown support for the crypto market during his campaign.

Now, with Atkins as chair of the SEC, crypto supporters gained confidence in the market. According to the New York Times, the lawyer has previously served as an SEC commissioner and founded Patomak Global Partners, a financial consulting firm that advises clients on crypto assets as part of its services.

Atkins will probably ease cryptocurrency regulations and has been working on a draft, along with the Token Alliance—an initiative from the Digital Chamber of Commerce, on “best practices” for trading in the crypto market.

Trump announced Atkins as Chairman through the platform Truth Social on Wednesday afternoon, and a few hours later shared his excitement for Bitcoin’s new record.

“Congratulations, bitcoiners! $100,000! You’re welcome! Together, we will Make America Great Again!,” wrote Trump.

Andrea Miliani

Written by: Andrea Miliani

Andrea Miliani is a Tech News Writer at Wizcase. With a strong background in journalism, Andrea covers the most important stories in the tech industry. She researches and writes digestible content with the most relevant information for readers. Andrea has previously covered tech-related stories in other markets and has a keen interest in cybersecurity and generative Artificial Intelligence. As a freelance journalist and SEO writer, Andrea has lent her expertise to various brands and remote teams worldwide and authored pieces for esteemed publications such as Vogue and Business Insider. When she is not monitoring the tech market, Andrea enjoys working on Era Freelance, her online project for remote workers, learning languages online, trying the best travel apps, and connecting with nature at the beach or on a hike.

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