You’re welcome’: Trump takes credit as Bitcoin hits $100,000

Donald Trump has told Bitcoin investors “you’re welcome” after the price of the digital currency surged above $100,000 (£78,000) for the first time in the wake of his election victory.

Bitcoin hit $103,900 in trading on Thursday, an all-time high, as cryptocurrency speculators rode a wave of optimism that Mr Trump will loosen rules around digital currencies.

The price of Bitcoin climbed more than 7pc overnight on Wednesday after Mr Trump announced Paul Atkins, a cryptocurrency lobbyist, as his nominee to chair the US Security and Exchange Commission.

On Truth Social, Mr Trump’s social network, the president-elect told followers: “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!”

Mr Atkins will replace Joe Biden appointee Gary Gensler as head of the markets watchdog. Mr Gensler was disliked by cryptocurrency advocates after the regulator unleashed a series of lawsuits against companies in the sector under his watch.

Mr Trump said Mr Atkins was committed to “common sense regulations” and “recognises that digital assets and other innovations are crucial to making America greater than ever before”.

The about-turn helped bring in tens of millions of dollars in donations for his re-election campaign from cryptocurrency companies and entrepreneurs, such as the billionaire Winklevoss twins and crypto exchange Coinbase.

Mr Trump has declared himself a “crypto president” and said he will consider creating a “stockpile” of the cryptocurrency for the US government.

Speaking at a cryptocurrency conference in July, he said: “Never sell your Bitcoin. If I am elected, it will be the policy of my administration, the United States of America, to keep 100pc of all the Bitcoin the US government currently holds or acquires into the future.”

US officials have previously seized billions of dollars in cryptocurrency from scammers, hackers and defunct dark web marketplaces such as Silk Road.