The price of Bitcoin surpassed the $100,000 threshold for the first time on the Bitstamp platform on Thursday.
The oldest and best-known cryptocurrency climbed by about 4.8 percent more than 24 hours, reaching $103,252 at about 0300 GMT.
The leading cryptocurrency has gained more than 7 percent in value in the past seven days.
Analysts attribute the steady increase to the new political landscape in the United States following Donald Trump’s victory in last month’s election.
The president-elect was backed by most of the crypto community during the election campaign.
Trump had been very negative about Bitcoin during his first term in office from 2017 to 2021, but actively courted the crypto community in this year’s re-election campaign.
At a major Bitcoin conference in Nashville, Tennessee, Trump promised to keep the crypto market largely unregulated and ensure cheap electricity for the mining of new Bitcoins.
On Wednesday, Trump said he intended to nominate Paul Atkins, considered a cryptocurrency supporter, to chair the U.S. Securities and Exchange Commission (SEC).
The commission regulates and supervises the securities markets and is therefore also responsible for protecting investors.
The post Bitcoin price surpasses $100K mark for 1st time appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.