BITCOIN HITS $100,000

Summary from the TLDR newsletter

Bitcoin hit $100,000 on Wednesday. The cryptocurrency has been experiencing a massive upswing since Donald Trump, who is a crypto supporter, won the 2024 presidential election. Trump recently announced his intentions to nominate Paul Atkins, a crypto advocate, to lead the Securities and Exchange Commission after Gary Gensler, a noted crypto critic, resigns on Inauguration Day. Trump has vowed to create a national stockpile of bitcoins to help wipe out US national debt. Atkins has said before that the US' tough stance on cryptocurrency has driven investors to other markets where regulations are clearer. Shifting US regulations to be more accommodating could bring those investments back to the US.