OAN Staff James Meyers
11:51 AM – Thursday, December 5, 2024
Bitcoin prices topped $100,000 for the first time ever on Wednesday evening and continued rising on Thursday, as the cryptocurrency added to its record-setting run after President-elect Donald Trump’s election victory and more buzz that the incoming administration will have a crypto czar.
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The price of Bitcoin went up from $69,121 the day before Election Day to what was then an all-time high of $74,445 on November 6th, the day after the election.
Since the election, bitcoin’s surge has continued, as it passed the $80,000 mark for the first time on November 10th and then eclipsed the $88,000 threshold for the first time the following day. By November 13th, the crypto currency was trading more than $92,800 before a minimal decline.
On Truth Social, Trump said “Congratulations Bitcoiners!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!.”
In recent days, the incoming Trump administration wants to expand the power of the Commodity Futures Trading Commission by granting it oversight of a significant portion of the $3 trillion digital asset market.
A possible contender is former CFTC Chairman Chris Giancarlo who recently spoke to FOX Business.
“With adequate funding and under the right leadership, I think the CFTC could hit the ground running to begin regulating digital commodities on day one of Donald Trump’s presidency,” said former CFTC Chairman Chris Giancarlo.
During his campaign, the 47th president promised to remove Securities and Exchange Commission (SEC) Chair Gary Gensler, who has drawn criticism from pro-crypto supporters.
Meanwhile, Trump announced Wednesday that he is nominating Paul Atkins to serve as the SEC chair.
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