Bitcoin broke $100,000 for the first time on Thursday, December 5, as traders elated over Donald Trump’s decision to pick a crypto fan to head the United States (US) securities regulator, reinforcing optimism the President-elect will push through measures to deregulate the sector.

New Telegraph reports that the cryptocurrency soared through the mark, having enjoyed a blistering rally since the November 5 election that saw Trump’s victory.

Trump pledged on the campaign trail to make the United States the bitcoin and cryptocurrency capital of the world.

The digital unit has jumped more than 50 per cent since the trump victory and around 140 per cent since the turn of the year.

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However, the unit’s advance hit a record of $103,800.44 before easing to just below $103,000, which had stalled in recent weeks, sitting just below $100,000 as traders awaited new catalysts to buy in.

The news came as Trump picked major crypto proponent Paul Atkins to take over as chair of the Securities and Exchange Commission.

The announcement from the Trump transition team noted that Atkins had been co-chairman of the Digital Chamber of Commerce, which promotes the use of digital assets, since 2017.

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