Bitcoin Enters First $99,000 Line...close to $100,000

Bitcoin Price $99,055…4.88% ↑
from a day agoRising on news of White House discussions on virtual currency policy positions
Nasdaq Bitcoin Spot ETF Option Commodity Price 4.06% ↑
Trump "Dismisses Chairman Gensler on First Day of Office"...regulatory criticism

[Anchor]
The price of Bitcoin, a major cryptocurrency stock, entered the $99,000 mark for the first time in history, and is on the verge of the $100,000 mark.

Gary Gensler, chairman of the U.S. Securities and Exchange Commission, who has been tightening regulations on the virtual currency industry, sparked the rise after news broke that he would resign on the inauguration day of Trump.

I'll connect you to New York for more news. Correspondent Lee Seungyoon!

[Reporter]
It's New York.

[Anchor]
Bitcoin Hits Another All-Time High With Over $99K?

[Reporter]
Yes, it is.

The price of Bitcoin, a major cryptocurrency stock, entered the $99,000 mark for the first time in history, and is on the verge of the $100,000 mark.

On the U.S. cryptocurrency exchange Coinbase, the price per unit of Bitcoin was trading at $99,055 as of 2:15 p.m. ET, up 4.88% from 24 hours ago.

Right now, it's trading around $98,000.

The price of bitcoin, which was below $70,000 earlier this month, has been hitting a record high since Trump's presidential victory, which he promised to "become a pro-Bitcoin president."

The rise was sparked by recent reports that Trump's transition team was discussing with the cryptocurrency industry whether to open a position dedicated to virtual currency policy at the White House.

If the White House has a job dedicated to virtual currency, it will serve as an opportunity to demonstrate the impact that the virtual currency industry will exert under the second Trump administration, Bloomberg reported.

Around the same time, Ethereum, the second-largest cryptocurrency market cap, and Solana, the third-largest, jumped 11% to $3,373 and $257, respectively.

The cryptocurrency saw huge gains in unison, with Tesla Inc TSLA CEO Elon Musk's Dogecoin rising 3.53% to $0.39 and Ripple jumping 13.91% to $1.23.

The New York Stock Exchange also reacted to expectations that the second Trump administration would ease regulations on cryptocurrencies.

The price of the Bitcoin Spot Exchange Fund (ETF) "iShares Bitcoin Trust" option product of asset manager BlackRock, listed on the Nasdaq Exchange on the 19th, jumped 4.06%.

[Anchor]
Bitcoin's rise today also affected the news that the chairman of the U.S. Securities and Exchange Commission, who has tightened regulations on cryptocurrencies, will resign on January 20?

[Reporter]
Yes, it is.

U.S. Securities and Exchange Commission Chairman Gary Gensler says he will step down on Trump's inauguration day.

"The committee has committed itself to protecting investors, supporting capital raising and efficiency in the market," Gensler said, adding that he would step down from his post on Jan. 20 next year, when a second Trump administration takes office.

Gensler, who became the head of the SEC in April 2021, has been pushing for crackdowns and strong regulations on the cryptocurrency industry, which has sparked opposition from the industry.

With strong support from the virtual currency industry in the presidential election, Trump criticized the virtual currency regulation policy and vowed to dismiss Gensler on his first day in office.

Gensler has the remaining term until 2026, but some have argued that Trump should resign immediately after he is elected, so he seems to have decided to resign as is customary following the regime change.

Candidates for the next chairman include Robinhood Chief Legal Officer Dan Gallagher, former Commodity Futures Trading Commission Chairman Chris Giancarlo and current SEC commissioner Hest Pearce.

I'm YTN's Lee Seungyoon from New York.