Donald Trump, the U.S. President-elect, is taking credit for Bitcoin’s historic rise to $100,000, calling it a win for cryptocurrency enthusiasts. In a post on his Truth Social platform early Thursday, Trump exclaimed:
“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!”
Bitcoin hit this milestone late Wednesday after weeks of hovering around $90,000. Since Trump’s election victory in November, the cryptocurrency’s value skyrocketed, gaining over $20,000 within seven days. Year-to-date, Bitcoin is up by more than 130%.
Crypto advocates are praising Trump for his apparent role in the surge. David Bailey, CEO of Bitcoin Magazine, jokingly referred to him as “President Pump” on social media, highlighting the community’s optimism.
Adding to the momentum, Trump’s choice for SEC Chair, Paul Atkins, has been well-received by the crypto world. Atkins, a known advocate for digital innovation, has experience working with crypto clients through Patomak Global Partners and serves as an adviser to the Chamber of Digital Commerce. His involvement in developing best practices for regulating digital assets suggests a friendlier SEC stance on crypto under Trump’s administration.
This marks a stark contrast to outgoing SEC Chair Gary Gensler, whose punitive approach to cryptocurrencies faced criticism for stifling innovation. Trump’s leadership and pro-crypto appointments signal potential policy shifts that could further boost the digital asset market.
