Bitcoin Breaks Record: A New Era Under Trump

Bitcoin has surged past USD 100,000 following the election of Donald Trump. The price hike is attributed to Trump's choice for SEC chair, signaling possible regulatory easing. The cryptocurrency experienced a dramatic rise from Election Day's $69,374 and faces an unpredictable future amidst market volatility.

Bitcoin has surpassed the USD 100,000 threshold, driven by a significant rally following Donald Trump's election. This milestone was reached shortly after the President-elect indicated a potential reduction in crypto industry regulation with his decision to appoint Paul Atkins as the next chair of the Securities and Exchange Commission.

On Wednesday, Trump announced his intention to nominate Atkins, a former SEC commissioner during George W. Bush's presidency, known for advocating against excessive market regulation. Since Trump won the election on November 5, Bitcoin has climbed to unprecedented levels.

The cryptocurrency made a dramatic leap from $69,374 on Election Day to reach $101,512 on Wednesday, marking a significant recovery two years after its steep decline post-FTX collapse. Despite its current highs, Bitcoin's future above $100,000 remains uncertain as experts continue to caution against investment risks inherent in the volatile crypto market.

(With inputs from agencies.)