Bitcoin (BTC) Smashes Through $100,000 Following Trump’s Pick of Paul Atkins for SEC Chair

Bitcoin (BTC) shattered the $100,000 mark for the primary time after newly elected President Donald Trump introduced his new choose as chairman of the US Securities and Trade Fee (SEC).

Trump has picked former SEC commissioner and present Patomak Companions CEO Paul Atkins to steer the regulatory company, in line with a brand new report from AP Information.

As Trump says on Reality’s social media, in line with AP:

“[Atkins] believes within the promise of sturdy, progressive capital markets that reply to investor wants and supply capital to make our financial system the most effective on the earth. He additionally acknowledges that digital belongings and different improvements are vital to creating America larger than ever earlier than.”

Moreover, Trump stated he’s a “confirmed chief in common sense rules.”

Atkins will change Gary Gensler as chairman of the SEC. Gensler, who stepped down from the function final month, is understood for his powerful stance on crypto belongings. Beneath his management, the SEC has taken a number of high-profile enforcement actions in opposition to outstanding crypto corporations, together with Coinbase, Binance, Kraken, and Ripple Labs.

After serving as SEC commissioner from 2002-2008, Atkins believes there may be an excessive amount of market regulation, in line with the report.

In 2022, whereas at Patomak, Atkins wrote a letter noting that as People turn out to be extra conversant in crypto belongings, they might turn out to be concerned about buying them for his or her retirement plans.

Information of the announcement precipitated the key crypto belongings by market capitalization to take off, as BTC went from a low of $94,890 on December 4 to a excessive of $103,425, a brand new all-time excessive. It has since stabilized and is buying and selling at $101,194 on the time of writing, a acquire of 6.5% on the day.

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