U.S. President-elect Donald Trump on Wednesday celebrated the recent surge in the price of Bitcoin, claiming credit for its success as it reached its first-ever $100,000 price target. In a post on Truth Social, Trump congratulated Bitcoiners and stated, “You’re welcome!!! Together, we will make America great again!”
This statement comes as Bitcoin and other cryptocurrencies have experienced a significant price increase since Trump’s election victory, with Bitcoin rising by 47% in the last 30 days and reaching the $100,000 milestone on Wednesday. The asset’s all-time high now stands at $103,679.
This message highlights Trump’s growing affinity with Bitcoin enthusiasts and acknowledges the digital asset industry’s growing influence in U.S. politics. It is also the latest in a series of comments made by Trump and the Republican Party to align themselves with Bitcoiners and other cryptocurrency enthusiasts.
Trump first began engaging with the Bitcoin community last year when he made an appearance at the Bitcoin 2024 conference in Nashville, TN. Despite mixing up Bitcoin with other cryptocurrencies, he managed to win over fans during his speech. He pledged to release Silk Road founder Ross Ulbricht from prison, remove SEC Chair Gary Gensler from his position, and establish a Bitcoin stockpile in the U.S. He also vowed to support Bitcoin and cryptocurrency mining in the country, stating that he wanted them to be “mined, minted, and made in the USA.”
Since then, and leading up to his return to the White House on January 20, 2025, Trump has fulfilled at least one of these promises by nominating crypto-friendly regulator Paul Atkins as SEC chairman. Gensler announced his resignation last month, effective January 20.
Furthermore, the Republican Party has also shown support for Bitcoin and cryptocurrencies during the 2024 election cycle. In their official platform, they promised to prevent an “unlawful and un-American crackdown” on the U.S. crypto industry. They also expressed support for protecting crypto mining, preserving the right to self-custody digital assets, and opposing the creation of a central bank digital currency (CBDC) in the U.S.
This growing alignment between Trump, the Republican Party, and the Bitcoin community underscores the increasing significance of cryptocurrencies in U.S. politics.
Edited by Andrew Hayward
