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In summary
- Donald Trump celebrated Bitcoin’s $100,000 milestone, taking credit and reaffirming his support for the crypto ecosystem.
- Trump promised to free Ross Ulbricht, create a BTC reserve in the US, and fire SEC Chairman Gary Gensler.
- The Republican Party supports Cryptocurrency Mining, self-custody of digital assets and rejects central bank digital currencies (CBDC).
US President-elect Donald Trump celebrated alongside bitcoiners on Wednesday, taking credit for the recent price surge as BTC surpassed $100,000 for the first time in history.
“Congratulations bitcoiners,” Trump said in a Truth Social post. “$100,000!!! You’re welcome!!! Together, we will make America great again!”
Trump’s post follows a dramatic rise in the price of Bitcoin and other cryptocurrencies since his election victory, with BTC rising 47% in the last 30 days and reaching the $100,000 milestone. The asset’s all-time high price now stands at $103,679, set 13 hours ago.
The message underscores Trump’s new affinity with Bitcoin fans as the digital asset industry becomes an increasingly formidable force in American politics. It also marks the latest of several comments Trump and the Republican Party have made in recent months to reach out to bitcoiners and other crypto enthusiasts.
Trump began courting the Bitcoin community early last year, making an appearance in July at the Bitcoin 2024 conference in Nashville, TN, where he won over fans despite confusing BTC with other cryptocurrencies.
In his speech, he promised to free the imprisoned founder of the Silk Road darkweb marketplace Ross Ulbricht, fire SEC Chairman Gary Gensler, and create a Bitcoin reserve in the United States. He also pledged to secure the future of Bitcoin and other cryptocurrency mining in the United States.
“If cryptocurrencies are going to define the future, I want them to be mined, minted and made in America,” Trump said in July.
Since then — and before his return to the White House on January 20, 2025 — Trump has fulfilled at least one of those promises: The president-elect on Tuesday nominated crypto-friendly regulator Paul Atkins as SEC chairman. Gensler announced last month that he will resign on January 20.
Meanwhile, Trump’s Republican Party has also championed Bitcoin and cryptocurrencies during the 2024 election cycle. In July, the GOP promised in its official platform to thwart an “unlawful and un-American crackdown” on the US crypto industry.
Trump’s party also expressed support for three key issues that are important to bitcoiners: protecting cryptocurrency mining, preserving the right to self-custody of digital assets, and opposing the creation of a central bank digital currency (CBDC) in the United States. Joined.
Edited by Andrew Hayward
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