Bitcoin Crosses $1,00,000 Mark For The First Time After Trump Nominates Crypto-Friendly Paul Atkins As SEC Chief

Bitcoin Is Worth $100K

Bitcoin has surged to new heights, and for the first time in its history, the cryptocurrency has surged past the USD 1,00,000 mark. This historic spike in its value is a continuation of an unmissable surge that Bitcoin and other cryptocurrencies have enjoyed in the recent past.

This particular surge has been largely attributed to the recent development from the cabinet nomination spree that President-elect Donald Trump has been on, ever since he won the US presidential election, which was held on November 5.

Trump Nominates Paul Atkins For SEC Chief

Donald Trump, after his series of abstruse nominations, the head of the incoming administration has now nominated Paul Atkins for the role of the United States Security and Exchange Commission Chairman.

Paul Atkins is a renowned crypto advocate and is a grand contrast to the current and outgoing SEC chief, Gary Gensler.

Gary Ginsler is known for his attempts to reign on the exploding crypto-universe. Ginsler has been on the radar of crypto advocates ever since.

And in light of the incoming administration, which is led by a crypto-friendly president, Ginlser announced, that he would step down from role as the SEC chief on January 20, the day Donald Trump would be inaugurated for his second and last term as the United States president.

Bitcoin

When we look at the status of Bitcoin, which arguably the biggest and the most consequential name in the crypto realm, the value of the detached, digital currency has seen a meteoric rise in the recent past.

This has especially been the case since Trump's victory, who himself has truly embraced the virtual world, with digital currencies and Trump merch in NFT forms.

As per the most recent updates, Bitcoin rose by 4.35 per cent or a monumental USD 4,299.30. This surge in its price, as mentioned before has taken it to heights never seen before. One solitary Bitcoin currently is worth a gargantuan USD 1,03,055.70.

Ethereum

The second biggest cryptocurrency, Ethereum has also seen an uptick in its value. This crypto has spiked by 58.49 per cent or USD 1,419.56 just in the month. The current value of the Ethereum stands at USD 3,846.58.