On December 5, 2024, Bitcoin reached an unprecedented price of $104,000, marking a significant milestone in the cryptocurrency market. This surge is attributed to the announcement that U.S. President-elect Donald Trump plans to appoint Paul Atkins, a known supporter of cryptocurrencies, as the head of the Securities and Exchange Commission (SEC).
In the early hours of December 5, Bitcoin's price exceeded $100,000 for the first time in history, with data from CoinMarketCap confirming the record high. The cryptocurrency was trading around $102,100 later in the day, reflecting a 5.7% increase over the previous 24 hours. The overall cryptocurrency market capitalization rose by 1.4% to reach $3.82 trillion, with trading volumes surpassing $480 billion.
This remarkable increase in Bitcoin's value coincided with Trump's announcement, which signals a shift from the regulatory stance of the outgoing Biden administration. During his campaign, Trump indicated plans to ease regulations on cryptocurrencies, aiming to position the United States as a global hub for digital currencies.