Bitcoin surpassed $98,800 to touch a new record on Thursday after the Securities and Exchange Commission announced Chair Gary Gensler will step down effective Jan. 20, the day Donald Trump is scheduled to be sworn into the White House.
The token had crossed the $98,000 threshold in early trading before paring gains as investors remained bullish on pro-crypto policies from the incoming Trump administration.
Bitcoin has soared roughly 40% since Trump's presidential victory earlier this month, hitting multiple milestones as investors eye targets of $100,000.
January 20th becoming an even more important date to watch.
Inauguration day AND Gary Gensler stepping down...
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