Bitcoin has surged above $100,000 for the first time, extending a dramatic rally as investors bet on greater political and regulatory support from US president-elect Donald Trump.
The price of the world’s largest cryptocurrency climbed as much as 6.1 per cent on Thursday to $103,800, up more than 50 per cent since Trump’s November election victory.
On Wednesday the former president nominated crypto advocate Paul Atkins to run the Securities and Exchange Commission, the main market regulator, raising hopes for a more favourable regulatory climate for the industry.
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