If confirmed, Bessent could act as a catalyst for a crypto and bitcoin price boom by helping to establish a clear regulatory framework for digital assets.

Bitcoin came within a whisker of closing above $100,000 for the first time on Thursday as the election of Republican Donald Trump as U.S. president spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.

Bitcoin jumped 4% in the early morning, trading around $97,920. The token, which is nearing a $2 trillion market cap, was the most-traded cryptocurrency Thursday morning, with trading volume surpassing $96 billion over the last 24 hours, according to CoinMarketCap data.