President-elect Donald Trump is wasting no time celebrating bitcoin's recent surge and the wealth it’s generating for cryptocurrency holders.
In a post early Thursday on his Truth Social platform, Trump wrote: "CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!"
Bitcoin crossed the $100,000 milestone late Wednesday after weeks near the $90,000 mark. The cryptocurrency has soared since Trump’s decisive election victory in November, climbing by $20,000—from around $68,318—within just seven days.
Year-to-date, bitcoin’s price is up over 130%.
Crypto advocates are giving Trump credit for the rally. David Bailey, CEO of Bitcoin Magazine and the Bitcoin Conference, tweeted: "His name is President Pump. Up only."
Cabinet Picks Fuel Crypto Optimism
The crypto community has also been energized by Trump’s latest Cabinet appointment. On Wednesday, Trump nominated Paul Atkins to lead the Securities and Exchange Commission (SEC), stating that Atkins “recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
Atkins, who heads Patomak Global Partners, a financial services advisory firm that works with crypto clients, has also been an adviser to the Chamber of Digital Commerce. Through the chamber’s Token Alliance, Atkins has contributed to developing best practices for crypto regulation.
Critics of outgoing SEC Chair Gary Gensler, who was known for a tough stance on cryptocurrency, see this appointment as a major shift.
Jake Chervinsky, chief legal officer at Variant, a financial technology group, wrote: “It’s impossible to express the magnitude of the shift we’re likely to see at an SEC run by Paul Atkins. Crypto has literally never existed without the overhang of uncertainty or hostility from U.S. regulators. This moment is a regulatory singularity before a new era for crypto.”
Pro-Crypto Administration
Trump’s administration is signaling full support for digital assets. His pick for Treasury Secretary, Scott Bessent, has openly praised cryptocurrencies.
In an interview with Fox Business earlier this year, Bessent said: “Crypto is about freedom, and the crypto economy is here to stay. Crypto is bringing in young people, people who have not participated in markets.”
According to Forbes, Bessent has also invested in blockchain startups and decentralized finance (DeFi) initiatives.
As Trump prepares to take office, his pro-crypto team has fueled optimism about a more supportive regulatory environment for digital assets.
