Shortly after President-elect Trump announced his selection of Paul Atkins as SEC Chairman on Wednesday, December 4, 2024, the price of Bitcoin broke $100,000 and reached new all-time highs (ATHs).

President-elect Trump commented on the appointment in his announcement on the social media platform Truth: “Paul is a proven leader for common-sense regulations. He believes in the promise of robust, innovative capital markets that respond to the needs of investors and provide capital to make our economy the best in the world. He also recognizes that digital assets and other innovations are critical to making America greater than ever before.

Commenting on Bitcoin breaking the barrier, crypto expert Stasher said: “I think this is just the beginning. You know it’s something big when the Fed Chair calls Bitcoin virtual gold. All eyes are on crypto now, thanks to Donald Trump, and there is.” I can’t say where it’s headed. I would even believe someone who says Bitcoin will be $500,000.

“Why? Because all hurdles are gradually being removed. Financial institutions are eager to invest, the new US government is open to the idea of ​​crypto, and governments around the world are building their strategic reserves for Bitcoin. “Never before have we seen a bull market supported by so many positive factors.”

“Among the sea of ​​candidates for SEC Chairman, Paul stands out as a mature, accomplished and respected candidate for the position. I trust his confirmation will pass without a hitch,” said Jennifer Lassiter, former CFPB director and board member of the Digital Dollar Project, and advisory board member of Global Digital Finance (GDF), the global digital asset advocacy group.

“Paul Atkins is President Trump’s perfect choice for SEC Chairman. He is honest, smart and knows how to move the agency forward. It will attract talent and champion technological innovation, crypto and digital finance. He will end regulation through enforcement. “Restore the SEC to its proper role of promoting capital formation and American economic growth!” commented former CFTC Commissioner J. Christopher Giancarlo in his LinkedIn post.

Giancarlo, author of CryptoDad: The Fight for the Future of Money, leads the Digital Dollar Project and is rumored to be in the running for the role of US crypto czar. Giancarlo is said to have turned down the position of SEC chairman and is the industry’s preferred candidate for the role of crypto czar due to his track record in crypto derivatives during his time at the CFTC, his commitment to digital asset advocacy, and his meeting powers interagency mandate.

Ryan Chow, CEO of SOLV Protocol – Solv.Finance, said: “Bitcoin breaking $100,000 is not just a milestone – it is a moment of validation for the ecosystem’s growth and potential. This success, along with Atkins’ appointment to the SEC, signals an era of institutional trust and regulatory clarity that will open up new opportunities for innovation. Institutions and traditional financial institutions are now fully embracing the concept of holding Bitcoin reserves on their balance sheets as a modern alternative to gold.

Bitcoin is dead

RedBull’s “A Guide for Critics and Skeptics of Bitcoin” is an interesting read, listing a who’s who of “establishment politicians and capitalists” by Nouriel Roubini, the outspoken economist also known as Dr. Doom is known for saying, “Bitcoin is neither fair nor equitable.” “To Janet Yellen, Treasury Secretary, who said, “Investors in Bitcoin are losing their money.”

Roubini added yesterday that he “does not believe Bitcoin will ever become a currency,” while Fed Governor Jerome Powell acknowledged that “Bitcoin is like digital gold” but does not compete with the dollar. Market experts point out that this last statement is pushing Bitcoin to higher highs.

Central bankers were already counting on fiat to be used as a central bank digital currency (CBDC) at some point in the future in 2018 and simply didn’t see what purpose Bitcoin would serve outside of a speculative tool, but many were not against Bitcoin. Enlightened fixed income and debt traders consider Bitcoin to be the best asymmetric trade they have ever had, fulfilling the role of portfolio insurance.

The President’s 2023 Economic Report, released in March 2023, was relatively dismissive of cryptoassets and DLTs. The report suggests that “DLT technology has delivered limited economic benefits.” “Operation Chokepoint,” an informal term used by critics to describe how U.S. government regulators are targeting the cryptocurrency industry, sent a chill through the industry.

a16z’s Marc Andreessen’s recent appearance on the Joe Rogan Experience podcast casts a dark shadow over government, democracy, crypto and technology. It’s worth a visit for anyone who has the time and interest.

“Passing $100,000 demonstrates Bitcoin’s resilience after many years of endless downturns and is the foundation of the decentralized technology’s growing reputation, from retail investors to institutional players. A powerful number that serves as a stamp of approval, forged by pioneers and shown to the skeptics. “There has been significant adoption in 2024, which will hopefully continue into 2025 as the industry continues to grow,” says Maxime Baron, CEO of Hash Consulting.

Long live Bitcoin

After the US election results we are in a different world, everything is changing for the crypto and digital asset industry. Who would have thought a few months ago that crypto would have its moment at the Berlin Wall while the US was on its way to making history? From President-elect Donald Trump promising to protect the national Bitcoin supply to Cynthia Lummis pushing the BITCOIN Act to Pennsylvania’s introduction of the Bitcoin Strategic Reserve Act, the US is expected to be the first developed economy to over has a strategic Bitcoin reserve.

Of course, Bitcoin and Ethereum ETFs as well as crypto options have helped crypto gain momentum in 2024, especially among institutional investors, sending further signals of mass adoption.

Rich Rines, first contributor to Core, said: “Bitcoin crossing $100,000 is just the beginning. This is simply a recognition of the fact that Bitcoin will continue to receive widespread support from investors, institutions and policymakers. As we approach 2025, Bitcoin will evolve from recognition to innovation as it evolves from a simple store of value into a far more comprehensive and sophisticated financial instrument. We are at the forefront of this change, unlocking new use cases and opportunities for Bitcoin asset.”

The HODLERS are now being rewarded for their HODLING, and if there has been a face, a poster boy for HODLERS everywhere, it is Michael Saylor, CEO of MicroStrategy, whose Bitcoin investment strategy is so legendary that he is preparing to give a presentation to the HODLERS Next month, MicroSoft’s board will educate the Club Mag 7 company on its Bitcoin investment strategy.

Gandhi is said to have falsely said: “First they ignore you, then they laugh at you, then they fight you, then you win” in the fight for independence from British rule.

Kit Miller, director of the MK Gandhi Institute for Nonviolence in Rochester, N.Y., told The Associated Press in an email that while the quote is often attributed to Gandhi, “he was not the original person who made the remark.” .

Nicholas Klein, a union activist, said something similar in a 1918 speech: “First they ignore you. Then they mock you. And then they attack you and want to burn you. And then they build monuments to you,” reads a transcript from the Amalgamated Clothing Workers of America meeting.

A confident lesson from more than 100 years of history that we should dedicate to all early and long-term supporters and HODLERS of Bitcoin. Bitcoin is a story about how revolutions are won. Let us now move on to developing the digital financial ecosystem and transforming it for the benefit of all citizens and companies.