Bitcoin surges above $100,000 for the first time as Trump picks pro-crypto SEC chair

Bitcoin hit $100,000 for the first time on Wednesday, surging to a new record after President-elect Donald Trump unveiled administration picks seen as holding the keys to ushering in crypto-friendly policies when he takes office in January.

Chief among the picks is Paul Atkins, whom Trump intends to nominate to lead the Securities and Exchange Commission (SEC), which regulates cryptocurrency.

Atkins, a crypto advocate and former SEC commissioner, is expected to regulate cryptocurrency with a lighter touch than Gary Gensler, who leads the commission under the Biden administration. Gensler, who aggressively fought the industry’s expansion in the US, is set to resign on Inauguration Day.