President-elect Donald Trump is celebrating the rise of bitcoin, which recently hit the $100,000 mark. He took credit for the increase, stating on his Truth Social platform that “Together, we will Make America Great Again!” Trump’s victory in November led to a $20,000 jump in bitcoin’s price within seven days, a trend that has continued throughout the year with the digital asset’s value increasing over 130%. He also nominated Paul Atkins to head the Securities and Exchange Commission, signaling a pro-crypto stance in his administration. Atkins has expertise in digital assets and has worked with the Chamber of Digital Commerce on regulating crypto. The crypto community is optimistic about the incoming administration’s support, with other key figures like treasury secretary pick Scott Bessent and Vice President-elect JD Vance voicing their support for digital assets. Trump has made courting the crypto industry a focus, speaking at a Bitcoin Conference and promising to make America the “crypto capital of the planet” if elected. The appointment of crypto-friendly officials and Trump’s enthusiastic embrace of the industry suggest a positive outlook for the future of cryptocurrencies in the US.
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