Bitcoin has topped the $100,000 mark for the first time as a massive rally in the world's most popular cryptocurrency sparked by the election of Donald Trump rolls on, the AP reports. The milestone comes just hours after the president-elect signaled a lighter regulatory approach to the crypto industry when he said he intends to nominate cryptocurrency advocate Paul Atkins to be the next chair the Securities and Exchange Commission. Bitcoin has soared to unprecedented heights since Trump won the election Nov. 5. The cryptocurrency has climbed dramatically from $69,374 on Election Day and rose as high as $103,713 Wednesday, according to CoinDesk. Just two years ago, bitcoin dropped below $17,000 following the collapse of crypto exchange FTX.
How long bitcoin will stay above the $100,000 mark is uncertain. As with everything in the volatile cryptoverse, the future is impossible to predict. And while some are bullish on future gains, other experts continue to warn of investment risks. Trump, who was once a crypto skeptic, has pledged to make the US "the crypto capital of the planet" and create a "strategic reserve" of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies. Crypto industry players have welcomed Trump's victory, in hopes that he would be able to push through legislative and regulatory changes that they've long lobbied for—which, generally speaking, aim for an increased sense of legitimacy without too much red tape.
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