NEW YORK — Bitcoin has surpassed the $100,000 threshold, fueled by a significant surge in the leading cryptocurrency that has been linked to Donald Trump’s recent election victory. This achievement was marked shortly after the President-elect announced his intention to adopt a more lenient regulatory stance toward the cryptocurrency sector by selecting Paul Atkins to lead the Securities and Exchange Commission (SEC).

On Wednesday, Trump expressed his plans to nominate Atkins, who previously served as an SEC commissioner under President George W. Bush. Since leaving the commission, Atkins has joined the conversation advocating for reduced governmental oversight in financial markets.

The ascent of Bitcoin has been remarkable, particularly following Trump’s election win on November 5. The digital currency jumped from $69,374 on Election Day to a peak of $101,512 just days later, showcasing extraordinary growth. This comes less than two years after it fell to below $17,000, a stark decline triggered by the downfall of the crypto exchange FTX.

While Bitcoin’s ability to maintain its status above the $100,000 mark remains uncertain, volatility continues to characterize the cryptocurrency landscape. Predictions about its future trajectory are challenging due to the inherent unpredictability of the market. Some analysts maintain an optimistic outlook regarding further price increases, while others caution potential investors about the associated risks.