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On Truth Social, U.S. President-elect Donald Trump extended his congratulations to bitcoin enthusiasts as BTC hit the $100,000 milestone. In a playful post, he added, “You’re welcome.”
Crypto’s Biggest Cheerleader? Trump Congratulates Bitcoiners
Bitcoiners got a shoutout from Donald Trump on Truth Social after bitcoin broke through the $100,000 barrier, hitting a record high of $103,639 per coin on Bitstamp on Dec. 5, 2024. The President-elect’s post read:
CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!
After the U.S. election in early November, where Trump secured both the electoral college and the popular vote, bitcoin soared to impressive price levels. Many believe the Trump administration will take strides toward clearer regulations, putting an end to the enforcement-driven tactics seen during Joe Biden’s tenure.
Many believe bitcoin mining is set to grow across the United States, with talk swirling about the possibility of a U.S. strategic bitcoin (BTC) reserve. Following Donald Trump’s election win, there’s increasing confidence that his administration could take a crypto-friendly approach to regulation. Much of this optimism stems from Trump’s pick for the next chair of the Securities and Exchange Commission (SEC), Paul Atkins.
A known advocate for cryptocurrencies, Atkins has consistently spoken out against heavy-handed market regulation, signaling a potential pivot toward a lighter regulatory touch for the crypto world. This sentiment aligns with Trump’s broader support for crypto, which he highlighted during his campaign and events like the Bitcoin conference in Nashville, where he floated the idea of a federal BTC reserve. With a Republican-led Congress and a Trump administration, the crypto sector is hopeful for clearer regulations and potential new laws that could foster growth in the market.