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President Donald Trump celebrated Bitcoin reaching $100,000 on Thursday, claiming that he will work with the cryptocurrency industry to improve America.
Trump shared the news in a post on his Truth Social account on Thursday morning.
“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” he wrote.
Bitcoin surged above $100,000 for the first time, driven by optimism that Trump’s election victory will lead to a favorable regulatory environment for cryptocurrencies.
The cryptocurrency has more than doubled in value this year, rising approximately 45 percent in the four weeks following Trump’s decisive election victory, which also saw several pro-crypto lawmakers elected to Congress.
This sharp rebound from a low of under $16,000 in late 2022 has been fueled in part by the approval of U.S.-listed bitcoin exchange-traded funds (ETFs) in January, according to Newsmax.
The U.S. Securities and Exchange Commission (SEC) had previously blocked attempts to launch Bitcoin ETFs, citing concerns about investor protection. The approval of these funds has provided more opportunities for investors, including institutional players, to gain exposure to Bitcoin.
Since the election, more than $4 billion has flowed into U.S.-listed Bitcoin ETFs.
The surge also follows the announcement on Wednesday of Trump’s pick for chairman of the Securities & Exchange Commission (SEC) detailed in a Truth Social announcement.
“I am delighted to announce the nomination of Paul Atkins to be the next Chairman of the Securities & Exchange Commission,” Trump wrote.
“Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World. He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before,” he continued.
Trump sought to become known as the “cryptocurrency president” by making a strong pitch to industry leaders during his campaign, RSBN previously reported.
During an appearance at Bitcoin 2024, a cryptocurrency conference held in Nashville, Tennessee, in July, Trump told attendees that his new plan would “ensure” that the United States becomes “the crypto capital of the planet and Bitcoin superpower of the world.”
This major pledge earned him massive applause. “If crypto is going to define the future, I want it to be mined, minted, and made in the USA.”
