Bitcoin (BTC-USD) surpasses $100,000 after President-elect Donald Trump named crypto enthusiast Paul Atkins as his nominee to fill the soon-to-be-vacated chairman position at the Securities and Exchange Commission (SEC). The rally was supported by comments from Federal Reserve Chair Jerome Powell, who said Bitcoin is a competitor to gold (GC=F) and not the US dollar (DX=F).

Digital Chamber founder Perianne Boring joins Brad Smith and Madison Mills on Morning Brief to discuss Bitcoin’s key milestone and what’s next for cryptocurrencies.

Boring says Trump’s choice of Atkins to head the SEC is “very, very optimistic news for the digital asset markets.” For many, many years, the industry has experienced significant regulatory headwinds from the SEC and the (Commodity Futures Trading Commission).”

“We’re just starting to see this. The impact of a pro-crypto administration, Congress and SEC regulators, as well as the clarification of all of this, has a huge impact on the recovery of these markets and has a direct impact on the current Bitcoin price.”

For more expert insights and analysis on the latest market activity, read the Morning Brief here.

This post was written by Naomi Buchanan.