In this YouTube video, it is reported that Bitcoin hit a record high of over $100,000 for the first time, with President-Elect Donald Trump appointing crypto currency advocate Paul Atkins to lead the securities. Trump, who once saw crypto as a scam, is now a full supporter and took credit for the surge. David Yaffe-Bellany, a technology reporter, explains the significance of Bitcoin surpassing the $100,000 mark and its importance in the financial system. The surge in Bitcoin’s value is attributed to Trump’s support and the accessibility of investment products tied to Bitcoin. Traditional financial firms offering exchange-traded funds have also contributed to the increase in investment in the crypto world. Paul Atkins is expected to deviate from the previous approach of Gary Gensler, who was seen as a villain by the crypto industry. Trump’s change in attitude towards crypto is seen as opportunistic, influenced by campaign contributions and his sons’ enthusiasm for the industry. Overall, the video discusses the rapid rise in Bitcoin’s value and the changing dynamics within the crypto industry.
