Bitcoin Surges Past $100,000 For The First Time Following Trump’s Crypto-Friendly SEC Chair Pick

Several cryptocurrency stocks gained, while bitcoin surged ahead, following President-elect Donald Trump’s Wednesday announcement nominating Paul Atkins as chair to the Securities and Exchange Commission (SEC), according to multiple reports.

The premarket trading session on Thursday revealed “substantial gains” for multiple companies with exposure to cryptocurrency, according to Investing.com. Riot Platforms saw a 6% uptick in its shares, Bit Digital’s shares increased by 5%, MARA Holdings’ stock climbed by 5% and MicroStrategy saw a 8% increase in shares, according to data collected by Investing.com.

Bitcoin, the first and most widely traded cryptocurrency, topped $100,000 for the first time ever late Wednesday following Atkins’ SEC chair nomination. The cryptocurrency was at $102,885.41 as of Thursday morning, according to Yahoo Finance. Bitcoin has soared since Trump won reelection, climbing from $69,335 at market close on Election Day to $75,621 at market close on Nov. 6, according to data from CoinGecko. The crypto market overall has jumped by roughly $1.3 trillion since Nov. 5, according to the Financial Post.