Bitcoin Hits $100, 000 with New Crypto-Friendly SEC Chief

Bitcoin made history by crossing the $100, 000 mark late on Wednesday. This milestone came just hours after former President Donald Trump announced his choice for the new Securities and Exchange Commission (SEC) chair, Paul Atkins. Atkins is known for his support of cryptocurrency, which could lead to more favorable regulations for the industry. Bitcoin's price has been on a rollercoaster ride since Trump's projected election win in November, hitting $74, 000 and then $90, 000 in quick succession. Trump, who once was skeptical of crypto, has changed his tune, aiming to attract younger voters. He even launched his own cryptocurrency business, World Liberty Financial, and bought burgers with bitcoin. The crypto industry backed Trump's campaign, hoping for more support under his leadership. Meanwhile, not everyone is on board, with Federal Reserve Chair Jerome Powell labeling bitcoin as a "speculative asset. "