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Bitcoin topped $100,000 for the first time this week as a massive rally in the world's most popular cryptocurrency, largely accelerated by the election of Donald Trump, rolls on. The cryptocurrency officially to rose six figures Wednesday night, just hours after the president-elect said he intends to nominate cryptocurrency advocate Paul Atkins to be the next chair of the Securities and Exchange Commission. Bitcoin has soared since Trump won the U.S. presidential election on Nov. 5.

BOSTON/LONDON (Reuters) -Bitcoin traded near $100,000 on Thursday as investors bet on a friendly U.S. regulatory shift, while world stocks pulled back slightly but held near record highs ahead of a key U.S. jobs report. France's government lost a confidence vote late on Wednesday for the first time since 1962, with far-right and leftist lawmakers joining forces to topple Michel Barnier's government. The move had been widely anticipated by investors, so the euro, French stocks and bonds were largely steady on Thursday as Barnier officially resigned.

The memecoin sector was worth 11.21% of crypto market capitalization, excluding bitcoin and ether, as of Dec. 1.

The huge rally for U.S. stocks lost momentum on Thursday as Wall Street counted down to a big jobs report that’s coming on Friday. The crypto market had more action, and bitcoin briefly burst to a record above $103,000 before pulling back. The Dow Jones Industrial Average fell 248 points, or 0.6%, while the Nasdaq composite slipped 0.2% from its own record set the day before.

Once it broke $100,000 in Thursday's Asian morning, boosted by U.S. President-elect Trump's nomination of pro-crypto Paul Atkins to run the Securities and Exchange Commission, it was soon at an all-time high of $103,649. The total value of the cryptocurrency market has almost doubled over the year so far to hit a record over $3.8 trillion, according to data provider CoinGecko. Bitcoin has more than doubled in value this year and is up more than 50% in the four weeks since Donald Trump's sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.

Bitcoin hits $100,000 in a major win for crypto bulls.

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