Key Points

• Today, Bitcoin reached a new ATH above $103,000, marking the debut of a new golden age for crypto.
• On December 4, Donald Trump officially nominated pro-BTC and crypto Paul Atkins as the next SEC Chair.

December 5 will be remembered as the day when Bitcoin surpassed the important milestone of $100,000. Bitcoin’s rally was fueled by multiple factors, including optimism stemming from the new upcoming Trump administration in the US.

Bitcoin Breaks a New ATH Above $103,000

Earlier today, Bitcoin broke a new all-time high, surpassing $103,000. Now, BTC is trading above $102,000, and the digital asset has a market cap of over $2.03 trillion.

BTC reached a market cap of $2.05 trillion, preparing to dethrone Google’s market cap of $2.1 trillion and becoming the 6th asset by market cap in the world.

BTC’s price rally has been mostly fueled by optimism flooding the crypto industry after Donald Trump announced his new pick for the US SEC Chair.

Trump Nominates Paul Atkins as Next SEC Chair

Yesterday, Trump announced the nomination of Paul Atkins to be the next Chairman of the US SEC. The US President said that Atkins is a proven leader for common sense regulations, who believes in the following core principles:

• Robust, innovative capital markets, responsive to investor needs
• Markets that provide capital to make the US economy the best in the world
• Recognition of digital assets and other innovations as crucial elements to make America greater than ever before

Atkins will replace the previous SEC Chair, Gary Gensler, whose policies have been extremely rough on crypto, suffocating innovation and strong development in the industry.

Yesterday also marked the day in which the US Fed Chair, Jerome Powell, praised Bitcoin.

Powell: “Bitcoin is Like Gold, It’s Just Virtual and Digital”

The US Federal Reserve Chair, Jerome Powell, addressed Bitcoin at the DealBook Summit on Wednesday, asserting that the digital asset is more like gold than the US dollar.

He said that people use Bitcoin as a speculative asset which is like gold, but virtual and digital.

As quoted by Benzinga, Powell dispelled notions that Bitcoin undermines the Fed or the strength of the US dollar, highlighting that the digital asset is not used as a primary form of payment or as a reliable store of value due to its high volatility.

Powell said that BTC is not a competitor for the US dollar, and it’s really a competitor for gold.

He was also asked about a potential national Bitcoin reserve and he highlighted the Fed’s objective of keeping the banking system safe and sound. He pointed out the Fed’s responsibility to regulate the crypto industry.

The entire crypto sector is celebrating Bitcoin’s important breakthrough, hoping for the best in the future.

The Crypto Industry Celebrates Bitcoin’s $100K Milestone

Binance’s CEO, Richard Teng, shared a post via X, saying that BTC’s rise to $100,000 is more than just a financial milestone, it’s a testament to how bold ideas can come to life and shape the future of the digital age.

Teng said that each milestone represents a step towards a stronger and more sustainable ecosystem, something that everyone can celebrate together. Binance’s CEO advised the industry to continue building, as there is much more to achieve.

Binance’s co-founder, Yi He, also shared a message on X, saying she is thrilled to see BTC surpassing $100,000. She highlighted the collective efforts and dedication of the crypto community, saying that every participant in this journey has played a crucial role in shaping today’s crypto sector.

She thanked everyone for their strong support for Binance, highlighting the need to keep building, HODLing, and working together towards the next era of growth in the cyrpto world.

Earlier today, Elon Musk praised El Salvador’s President, Nayib Bukele’s “impressive” initiative to create a Bitcoin reserve for his country after he shared a photo of the nation’s portfolio.

As we recently reported, the US also plans multiple Strategic Bitcoin Reserves for its states, along with other countries in the world.

Bitcoin surpassing the $100,000 milestone will probably fuel trust for more nations to start seeing the digital asset as a hedge against inflation and a digital version of gold.

Why Did Bitcoin Reach $100,000?

Beyond favorable policies surrounding crypto, beyond the metrics, accumulation, and the launch of all related crypto products, including BTC ETFs, Bitcoin continues to surge because of what it represents.

Bitcoin stands for resilience, hope, freedom, sovereignty, and unity built on faith in a better world.

It embodies a strong community united in the pursuit of peace, prosperity, the defense of freedom, and the preservation of what is right and true, regardless of its volatility which simply reflects the human nature of sentiments.

Bitcoin shelters people from crisis and its rising value reflects a growing global awareness of the gift that Satoshi Nakamoto offered humanity.

It taught people to believe in something, hold on to this belief, and fight for it, even when the battle is against strong oppressive currents.

Bitcoin is hope and more people recognize its significance and are ready to stand up for fundamental rights and freedoms, preserving core values that underpin human dignity.