Michaela Alvez
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.
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.
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.
Read More
- Trump Weighs Pro-Crypto Leaders Perianne Boring, Caroline Pham for CFTC Chair
- SEC Shake-Up: Trump Nominates Pro-Crypto Atkins, Gensler Leaves Enforcement Bombshell
- Trump Administration Eyes CFTC for Crypto Oversight, Potentially Sidelining SEC
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
