President Trump has responded to the soaring cryptocurrency market after Bitcoin and other cryptocurrencies saw a massive surge following the 2024 election.
As The Gateway Pundit previously reported, President Trump spoke at the Nashville Bitcoin Conference while campaigning for President in July and promised he would fire current SEC Chairman Gary Gensler “on day one” and “appoint a new SEC Chairman who believes America should build the future, not block the future.”
He further declared that under his Administration, the United States will become the “Crypto capital of the planet and the Bitcoin superpower of the world.” He continued, “If crypto is going to define the future, I want it to be mined, minted, and made in the USA.”
“And if Bitcoin is going to the moon, as we say–It’s going to the moon–I want America to be the nation that leads the way, and that’s what’s going to happen.”
WATCH:
Bitcoin hit the coveted $100,000 price point on Wednesday and was still trading at $103,000 this morning following a more than 50% increase since election day.
“YOU’RE WELCOME!!!” Trump said in a Truth Social post, crediting his election victory for the increased excitement that drove the price to a new all-time high.
Trump: CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!
Bitcoin’s $100,000 milestone also came just hours after President Trump announced his nomination of Paul Atkins, CEO of Patomak Global Partners and co-chair of the Digital Chamber’s Token Alliance, as SEC Chairman. Trump noted in his announcement that Atkins, who previously served as SEC Chair under Bush, “recognizes that digital assets and other innovations are crucial to Making America Greater than Ever Before.”
JUST IN: Trump picks pro-crypto Paul Atkins for SEC Chair pic.twitter.com/RmTLomGAbX
— Jordan Conradson (@ConradsonJordan) December 4, 2024
The Gateway Pundit recently reported that Trump was weighing the cryptocurrency market in his nomination of a new SEC Chair. He is further rumored to be considering a separate position and appointing the country’s first “Crypto Czar.”
Throughout 2024, Trump surrounded himself with and nominated pro-crypto figures to his cabinet, including Secretary of Health and Human Services nominee RFK Jr. and Secretary of Commerce nominee Howard Lutnick.
Additionally, Elon Musk, who has been referred to as “the Dogefather” in light of his support for the Dogecoin meme currency, was also selected to lead the Department of Government Efficiency, nicknamed “DOGE,” a nod to Dogecoin. The cryptocurrency has seen gains of nearly 200% since election day and has more than quadrupled in value since September, currently costing around 45 cents per coin as of Thursday morning.
Trump’s pro-crypto administration is expected to create a strategic reserve of Bitcoin and other currencies, which may play a role in future asset prices.
