For the first time in its history: Bitcoin exceeds the threshold of 100 thousand US dollars

Bitcoin rose above $100,000 for the first time on Thursday amid expectations that the administration of US President-elect Donald Trump will provide a favorable regulatory environment for the cryptocurrency market.

Bitcoin jumped by more than 5 percent to a new record level at $102,888, by 0317 GMT, shortly after Trump announced that he would appoint Republican lawyer Paul Atkins, a supporter of the development of cryptocurrencies, as head of the Financial Markets Regulatory Authority, upon assuming office on January 20.

The value of Bitcoin has more than doubled this year, and has jumped by more than 50 percent, since Trump’s landslide election victory last November 5, which was also accompanied by the election of a large number of pro-cryptocurrency lawmakers in Congress.

The rise in Bitcoin’s value made it one of the biggest winners in so-called trades betting on Trump’s policies.

It seems that the cryptocurrency has become on the cusp of acceptance by the mainstream since its launch 16 years ago.