Trump cheers Bitcoin hitting record market value

President-elect Donald Trump on Thursday congratulated Bitcoin investors on the rise of the value of their investments after he won re-election to the White House. Together, they would make the United States great again, Trump said. The market value of one Bitcoin topped $100,000 for the first time Wednesday after a month-long climb for the cryptocurrency, which sat at $69,374 on Election Day.

What’s going on with Bitcoin? On Wednesday, Trump named Paul Atkins as his pick to lead the U.S. Securities and Exchange Commission. In his nomination statement, Trump said that Atkins recognized the value of digital currencies. While Trump didn’t name Bitcoin specifically as one of those digital assets, the value of the digital currencies rose in the ensuing hours.

This isn’t the first time that news about Trump’s administration has fueled a rise in the cryptocurrency market. Global cryptocurrency news and analysis site CoinDesk reported on Nov. 6 that, following reports that Trump won the presidential election held the day before, Bitcoin prices soared to within 1.3% of its all-time high at the time.

Dig deeper: Read Leo Briceno’s report in The Stew from earlier this year about how U.S. lawmakers were considering regulating cryptocurrencies.