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Born from the ashes of the 2008 global financial crisis, bitcoin arrived after trust had withered in the financial system and in Washington's ability to protect those who must participate in it. Now, it's Washington's very embrace of bitcoin that's helping to send its price to records and lining the pockets of its believers. Bitcoin briefly surged above $103,000 after President-elect Donald Trump said he intends to nominate Paul Atkins, a former regulator who's seen as friendly to crypto, as the next chair of the Securities and Exchange Commission.

Bitcoin bulls remain confident that despite a history of volatility, the cryptocurrency will continue to trade higher than $100,000.

Bitcoin prices have been on the rise this year, and the cryptocurrency has reached the $100,000 price point for the first time on Wednesday. The cryptocurrency's price has jumped more than 5% in the last 24 hours. The latest rally began with the election of Donald Trump as president, as he promised a more crypto-friendly regime than current president Joe Biden.

Paul Atkins’ selection as incoming chair of the SEC has boosted sentiment.

The new all-time high coincided with the appointment of a libertarian SEC chair by President-elect Donald Trump.

Here’s how much you’d have now if you invested in Bitcoin 10 years ago.

President-elect Trump congratulates bitcoiners and El Salvador's President Nayib Bukele takes victory lap after bitcoin surpasses $100,000.