It’s been a long, arduous road for many in the cryptocurrency world, but it’s finally happened: the price of Bitcoin has surpassed $100,000 for the first time.

Given that the digital currency has risen by more than 50% in the last two months, Wednesday’s milestone not only made Bitcoin holders very happy, but also provided some confirmation that digital assets are here to stay are.

President-elect Donald Trump’s promise to ease crypto regulations and his nomination of Paul Atkins as Securities and Exchange Commission chairman sparked the massive rally that included Ether (ETH=F), XRP (XRP-USD), and crypto-related stocks brought himself for the journey.

“They call it the ‘Paul Haul’ that took Bitcoin over $100,000,” Perianne Boring, founder of the Digital Chamber, told Yahoo Finance, referring to Atkins, who many crypto fans compare See outgoing SEC Chairman Gary Gensler as an ally of digital assets.

“CONGRATULATIONS BITCOINERS!!!” Trump wrote in a post on his Truth Social platform early Thursday.

Chipmakers didn’t feel the same euphoria this week, particularly Intel (INTC), whose shares took a hit after the company announced the sudden resignation of CEO Pat Gelsinger on Monday.

The company ousted Gelsinger due to a falling stock price and uncertainty over a turnaround plan focused on its foundry business. Gelsinger’s efforts to make Intel a maker of chips for rival chipmakers helped the company secure $7.8 billion in CHIPS Act funding.

“There was clearly some kind of disagreement between Pat Gelsinger and the board,” said Mandeep Singh, senior technology analyst at Bloomberg Intelligence.

“One reason Pat is gone is his insistence on getting the foundry up and running,” added Christopher Danely, head of U.S. semiconductor research at Citigroup.

As Yahoo Finance’s Daniel Howley wrote, Intel’s foundry business has been losing money and plans to continue operating it as an independent subsidiary.

“They just got the CHIPS Act money, and if you look closely at the details, it basically says Intel can’t sell more than a controlling share of the manufacturing site,” Mario Morales, IDC vice president of enabling technologies and semiconductors, told Yahoo Finance. “So that means Intel needs to maintain production control over its capacity.”

Intel CFO David Zinser and Intel Products CEO Michelle Johnston Holthaus have been named interim co-CEOs while the company searches for a new CEO.

Markets broadly received another dose of good cheer Friday from the monthly nonfarm payrolls report.

The story continues

The U.S. economy added more jobs than forecast in November, a sign that economic growth is continuing to advance and the Federal Reserve will not be deterred from cutting its key interest rate at its final meeting of the year on December 17th and 18th.

Bureau of Labor Statistics data released Friday showed 227,000 new jobs were added in November, more than the 220,000 economists expected. The unemployment rate rose to 4.2%.

“We have an unemployment rate that remains in the low 4 percent range, and that’s kind of the definition of a soft landing,” Robert Sockin, senior global economist at Citi, told Yahoo Finance.

Wage growth rose slightly more than forecast, rising 0.4% month-on-month and 4% year-on-year in November.

“For the Fed, these numbers will be exactly what it was looking for, and it is content to ease monetary policy further at least at the December meeting,” Sockin said.

Investors generally expect the Fed to cut interest rates by another quarter of a percentage point to a range of 4.25% to 4.5%, according to the CME FedWatch tool.

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