Prices have surged by over 50 percent since the tycoon's election victory, and approximately 134 percent since the beginning of the year.

Bitcoin broke the $100,000 threshold for the first time, driven by expectations that U.S. President-elect Donald Trump will push for deregulation of cryptocurrencies once he takes office next month.

The cryptocurrency reached $100,010 in early Asian trading on Thursday, having experienced a remarkable surge since Trump's victory in the November 5 election. During his campaign, Trump promised to make the United States the "bitcoin and cryptocurrency capital of the world."

Since Trump's election win, Bitcoin has risen by more than 50 percent, and it has gained approximately 134 percent since the beginning of the year.

However, its upward momentum slowed in recent weeks, with Bitcoin hovering just below $100,000 as traders waited for new factors to trigger further buying.

The market received a boost with the news that Trump had nominated prominent cryptocurrency supporter Paul Atkins to head the Securities and Exchange Commission (SEC).

Atkins, who served as an SEC commissioner from 2002 to 2008, founded the risk consultancy firm Patomak Global Partners in 2009, which works with clients in banking, trading, and cryptocurrency sectors.

According to a statement from the Trump transition team, Atkins has been co-chairman of the Digital Chamber of Commerce, an organization that advocates for the use of digital assets, since 2017.

Trump praised Atkins, calling him a "proven leader for common sense regulations." He emphasized that Atkins is committed to maintaining "robust, innovative" capital markets and recognizes the importance of digital assets and other innovations in "Making America Greater than Ever Before."

Atkins would replace Gary Gensler, who led efforts to crack down on the cryptocurrency sector following a market downturn in 2022.