Bitcoin has surpassed the $100,000 mark as a post-election rally continues, largely fueled by the election of Donald Trump.
The big picture: The cryptocurrency hit six figures soon after Trump mentioned nominating Paul Atkins, a cryptocurrency advocate, to be the next chair of the Securities and Exchange Commission.
- Bitcoin has experienced a significant surge since Trump’s election win, going from $69,374 on Election Day to a high of $103,713 recently.
- Despite hitting new all-time highs, Bitcoin dropped below $100,000 by Thursday afternoon.
Driving the news: Cryptocurrency is digital money that operates through an online network without central authority and uses blockchain technology to record transactions.
- Trump’s pro-crypto stance, plans to make the US a crypto capital, and nomination of Atkins have all contributed to Bitcoin’s rally.
