Bitcoin Just Hit a Major Milestone. Here’s Why It’s Surging.

Bitcoin hit $103,000 Thursday morning after reaching the coveted $100,000 level Wednesday night.

On Truth Social, Trump posted about the milestone offering congratulations and taking credit for the rally, writing, “You’re welcome!”

Why Is Bitcoin Surging?

Since Donald Trump won the 2024 election, Bitcoin has grown by 40%, and experts are enthusiastic that the President-elect’s policies will be a boon for cryptocurrency.

Bitcoin hit the $100,000 mark after Trump named the “crypto-friendly” CEO and Founder of Patomak Global Partners Paul Atkins to lead the SEC, per the WSJ.

On Truth Social, Trump wrote that Atkins, a former SEC commissioner, is a “proven leader for common sense regulations.”

“He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before,” Trump wrote.

Senator Kirsten Gillibrand, D-NY, told Yahoo Finance Wednesday that Atkins “could very well be a good SEC head.”

Reports that Trump is looking into creating a “crypto czar” role in his administration have also helped the rally, per Reuters.