Michaela
President-elect Donald Trump is reportedly set to make Bitcoin a central focus of his administration, with expectations of a potential price surge to $150,000 early in his term.
According to Axios, sources from the Trump transition team stated that the President-elect considers Bitcoin to be “another stock market,” aligning with his broader vision of positioning the U.S. as a global leader in emerging technologies.
The President-Elect recently expressed his enthusiasm for Bitcoin in a post on Truth Social, his social media platform, celebrating the cryptocurrency’s milestone of reaching a record-breaking $100,000.
“YOU’RE WELCOME!!! Together, we will Make America Great Again!” Trump wrote.
Sources revealed that the Trump administration aims to establish a “legal framework” to provide the cryptocurrency industry with the regulatory clarity it has long requested.
Related: Strategy Sells $1.4B in Stock to Cover Bills Amid Bitcoin Slump
The administration is also set to grant Silicon Valley executives unprecedented influence at the federal level, with a strong presence of tech-friendly officials and policies embedded throughout the government.
Consequently, former PayPal executive David Sacks has been nominated as the White House’s AI and Crypto Czar, with the responsibility of creating a comprehensive legal framework for the cryptocurrency industry.
Trump has also nominated former U.S. Securities and Exchange Commission (SEC) Commissioner Paul Atkins, a strong proponent of clearer crypto regulations, as the new Chair, following the departure of Gary Gensler.
Related: The History of Altcoins: How Bitcoin’s Rivals Changed the Crypto Game
Before launching his presidential campaign, Trump had mixed views on cryptocurrency. In 2019, he called Bitcoin “highly volatile” and questioned its value. He later shifted his position and expressed a willingness to embrace cryptocurrency during his second term.
Trump has promised to usher in a “golden age of America,” and as part of his vision, he is expected to focus on sectors that drive market growth, including cryptocurrencies. Industries such as oil and gas, financial services, private prisons, and crypto have attracted significant investor attention, with many betting on the potential benefits of the new administration’s policies.
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- Trump Administration Eyes CFTC for Crypto Oversight, Potentially Sidelining SEC
MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
