Bitcoin surges on Trump’s pick for the SEC

Catalytic pick: A cryptocurrency exchange in Hong Kong. Trump has named crypto-proponent Paul Atkins to head the Securities and Exchange Commission. — Reuters

New York: President-elect Donald Trump’s pick of a crypto proponent to be the next head of the US securities regulator lifted bitcoin to US$100,000 for the first time as traders warmed to the prospect of relaxed regulations.

The digital asset rose as much as 6.1% to US$103,801 yesterday before changing hands at US$103,420 as of 1:23pm in Singapore.