President-Elect Donald Trump Claims Credit for Bitcoin Surpassing $100,000

President-elect Donald Trump attributed Bitcoin’s surge past the $100,000 mark to his victory in the November 5 election, noting that the cryptocurrency had appreciated 50% since then.

“CONGRATULATIONS, BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will make America great again!” Trump wrote on Truth Social. The president-elect had launched his own cryptocurrency platform in September.

Bitcoin’s rapid rebound—from dipping below $16,000 at the end of 2022—was fueled by the approval of Bitcoin exchange-traded funds earlier this year in January.

Many analysts attribute Bitcoin’s historic $100,000 milestone—and its bullish trend since November—to Donald Trump’s victory in the U.S. presidential election.

Bitcoin Rally Reasons

Trump’s openly pro-crypto campaign, coupled with expectations of upcoming regulatory changes under his administration, is seen as a significant factor. A key development fueling optimism is Trump’s recent appointment of Paul Atkins to replace outgoing SEC Chairman Gary Gensler.

Atkins, a vocal cryptocurrency advocate and former co-chair of the Digital Chamber’s Token Alliance since 2017, is set to lead the U.S. Securities and Exchange Commission. His appointment signals a potentially friendlier regulatory environment for the crypto industry.

Speculation that Donald Trump might establish a Department of Cryptocurrencies or create a U.S. strategic Bitcoin reserve has further fueled enthusiasm in the market.

Following the U.S. presidential election, many crypto-related companies saw their stock prices soar, including Bitcoin services provider MicroStrategy and exchange platform Coinbase.

Even Dogecoin, the meme-based cryptocurrency championed by Elon Musk since 2019, has been on the rise. Musk reacted to the Bitcoin milestone with a simple post on X, saying, “Wow!”

The growing optimism highlights the market’s anticipation of a crypto-friendly environment under Trump’s leadership.

ABOUT THE AUTHOR See More

Ignacio Teson

Economist and Financial Analyst

Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.

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