Bitcoin reached an extraordinary milestone late Wednesday evening, surpassing the $100,000 mark for the first time in its history. The flagship cryptocurrency surged more than 2% to $101,510.10 by early Thursday. This came after hitting an all-time high of $103,844.05 the previous night. The slight dip that followed was attributed to profit-taking by some investors, but the landmark achievement remained intact.

The monumental rise in bitcoin’s value coincided with President-elect Donald Trump’s announcement that Paul Atkins will be nominated as chair of the Securities and Exchange Commission (SEC). Atkins’ appointment signals a major policy shift for the cryptocurrency industry. Under current SEC Chair Gary Gensler, the agency adopted a stringent regulation-by-enforcement approach, often criticized as overly hostile to the digital asset space. Trump’s move to replace Gensler fulfills a key campaign promise to the crypto community and has already invigorated confidence in the market.

President-elect Trump took to Truth Social on Thursday morning to acknowledge the milestone, cheekily congratulating bitcoin enthusiasts. “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!!” he wrote, adding, “Together, we will Make America Great Again!” His remarks further cemented the connection between his administration’s policies and the cryptocurrency’s explosive rally.

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This marks a day of vindication for long-term bitcoin investors who have weathered numerous market cycles, holding steadfast through both dramatic surges and crushing declines. These “HODLers,” as they’re affectionately called in crypto circles, have seen the digital currency rise more than 140% in 2024 alone. Even more impressively, bitcoin has climbed 48% since Trump’s election victory.

The ascent to $100,000 is more than just a symbolic achievement; it’s a turning point for bitcoin’s legitimacy as a global asset. Financial institutions and governments, once skeptical of cryptocurrencies, may now be forced to reassess their stances in light of this unprecedented growth. For bitcoin believers, the milestone represents not just a financial success, but a validation of their long-held conviction in the digital currency’s potential to reshape global markets.

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