Bitcoin’s price surpassed $100,000 late Wednesday for the first time ever, marking the peak of a bull run that has driven the cryptocurrency‘s value up by more than 30% since the Nov. 5 US presidential election.
The world’s largest cryptocurrency was hovering around $68,000 on the eve of Election Day to a then-record high of $75,000 the day following the election.
Trump’s victory over Vice President Kamala Harris boosted investor sentiment, driving Bitcoin to new record highs.
Bitcoin hit $103,343 at the time of publication.
During his campaign, Trump pledged a pro-crypto regulatory approach, vowing to make the US the “crypto capital of the planet” and announcing plans during a summer conference to establish a crypto advisory board.
Earlier in the day, Trump selected crypto advocate Paul Atkins to lead the Securities and Exchange Commission, sparking optimism for a more industry-friendly regulator.