After several weeks of hovering just below the $100,000 mark, Bitcoin surged past the milestone on Wednesday, driven by a significant political development.

This breakthrough came after President-elect Donald Trump announced his nomination of Paul Atkins, a former commissioner in the U.S. Securities and Exchange Commission (SEC) to lead the country’s financial regulatory body. This move injected a fresh wave of optimism into the cryptocurrency market, as many investors saw it as a signal of further crypto-friendly policies under the new administration.

The milestone for Bitcoin capped off a remarkable year in which the cryptocurrency gained growing legitimacy on Wall Street, with many major financial institutions beginning to recognize it as a legitimate asset class. This shift in attitude, coupled with Trump’s election—a victory widely regarded as positive for cryptocurrencies—led to a surge in investor confidence.

Crypto enthusiasts and Wall Street traders alike rushed to capitalize on the perceived potential for further growth, contributing to Bitcoin’s climb. Throughout the year, Bitcoin’s price had frequently tested the critical $100,000 threshold, repeatedly approaching the level only to retreat in subsequent days.

However, with Trump’s recent appointment of Atkins and the broader political climate favoring digital currencies, Bitcoin managed to break through the barrier, marking a historic achievement for the asset. Investors, who had long been closely monitoring the cryptocurrency’s movements, now see this moment as a sign that the broader market’s acceptance of Bitcoin and other digital currencies is becoming increasingly inevitable.

This is just the beginning!