- Donald Trump “would love” for bitcoin to hit $150,000 during his presidency, according to a report from Axios citing an anonymous transition source.
- Bitcoin surpassed $100,000 after Trump won the election, and he congratulated “bitcoiners” on Truth Social, appearing to take credit for the price increase.
- Trump plans to promote crypto-friendly regulations, including nominating Paul Atkins, who has serviced crypto exchanges and DeFi platforms, to run the SEC.
In a surprising turn of events, former US President Donald Trump has expressed his enthusiasm for Bitcoin’s potential rise during his return to the office. As reported by Axios, an American news website, Trump has shared his desire to see Bitcoin reaching $150,000 during his presidency.
Trump’s Aspirations for Bitcoin’s Milestone
As the president-elect, Donald Trump is set to return to the White House in January. According to an anonymous source cited by Axios, he would love for Bitcoin to reach the unprecedented value of $150,000. This comes after Bitcoin saw a significant rise, surpassing $100,000 following the announcement of Trump’s election victory to become the next President of the United States.
Bitcoin and Broader Cryptocurrency Market
Bitcoin and the broader cryptocurrency market have been experiencing an upswing since Trump’s victory over Vice President Kamala Harris. Axios reports suggest that Trump is very focused on the price of Bitcoin, likening the cryptocurrency to another stock market for the politician. During his previous term, Trump often referred to the performance of the US stock market as a measure of his administration’s successful management of the nation’s economy.
Bitcoin’s Performance Since Trump’s Election
Since his election in November, Bitcoin’s price has increased from about $68,000 to as much as $103,000. Trump had previously congratulated Bitcoin enthusiasts on the digital currency surpassing the $100,000 mark in a post on Truth Social, where he appeared to take some credit for the price increase. As of the time of Axios’ report, Bitcoin was trading at $95,205.73
Trump’s Plans for Crypto-friendly Regulations
Further, Axios reported that Trump is planning to promote crypto-friendly regulations, including proposing Paul Atkins to run the US Securities and Exchange Commission. Atkins, a well-known figure in the crypto world, is the founder of Patomak Global Partners, a consulting firm servicing crypto exchanges and DeFi platforms.
Conclusion
In conclusion, Trump’s expressed interest in Bitcoin and his plans for crypto-friendly regulations signal a potential shift in the US government’s approach towards cryptocurrencies. As the world watches on, the impact of these potential changes on the crypto industry and the broader economy remains to be seen.
