The price of Bitcoin surged past $100,000 early Friday, a milestone fueled by optimism surrounding President-elect Donald Trump’s pro-crypto agenda. Once a skeptic, Trump has become a vocal advocate for digital currencies, promising to transform the U.S. into the "crypto capital of the world."

0% Commission

Stock Trading

16M+

Active Traders

2500+

Financial Assets

Regulated Platform Multi-Asset

Start Trading

Trump’s Crypto Renaissance

Having previously dismissed Bitcoin as a “scam,” Trump has now embraced cryptocurrencies with enthusiasm. On the campaign trail, he unveiled plans to establish a U.S. crypto stockpile, enact crypto-friendly regulations, and appoint a dedicated "crypto czar" to oversee his administration’s policies. His pivot to supporting cryptocurrencies underscores a broader effort to position the U.S. at the forefront of financial innovation.

At a Bitcoin conference last summer, Trump assured crypto enthusiasts, “You’re going to be very happy with me.” This statement, along with his victory in the November election, has helped propel Bitcoin’s price, which climbed from $20,000 two years ago to its current value of over $104,000. Trump’s endorsement has also led to a significant shift in public perception, with many traditional investors now exploring crypto as a viable financial instrument.

Crypto Advocates Celebrate

Key players in the crypto industry are throwing a “Crypto Ball” in Washington, D.C., on Friday night to commemorate the inauguration of the first “crypto president.” The event has attracted attention worldwide, not only for its extravagant nature but also for the strong message it sends about the growing influence of the crypto community. Tickets for the sold-out event were priced at several thousand dollars, reflecting the industry’s excitement and the high stakes involved.

Trump’s cabinet and regulatory picks include crypto advocates such as Paul Atkins for SEC Chair and David Sacks as the administration’s new “crypto czar.” These appointments signal a stark departure from the perceived hostility of the Biden administration, which industry leaders accused of stifling innovation through stringent regulations and enforcement actions. Crypto investors are optimistic that Trump’s team will bring a more balanced and innovation-friendly approach.

Trusted Brokers

Etoro

Social trading, CopyTrading, ideal for beginners.

Read Full Review

FxPro

Forex and CFD trading with advanced tools.

Read Full Review

Exness

Low spreads, instant withdrawals, easy to use.

Read Full Review

Key Actions Expected from Trump’s Administration

1. Formation of a Crypto Advisory Council

Trump has pledged to establish an advisory council to create clear and straightforward regulations within his first 100 days in office. The council will be led by crypto-friendly figures like venture capitalist David Sacks and former congressional candidate Bo Hines. This initiative is designed to reduce the uncertainty that has long plagued the industry, paving the way for broader adoption and investment.

Trump emphasized that these regulations will be crafted by those who support the industry rather than detractors, aiming to foster growth and innovation. The advisory council is expected to consult with stakeholders across various sectors, including technology, finance, and law enforcement, to create a holistic regulatory framework.

2. Strategic Bitcoin Reserve

One of Trump’s most ambitious proposals is the creation of a U.S. government-held Bitcoin reserve, similar to the gold reserves. The plan involves keeping, rather than auctioning, billions of dollars’ worth of Bitcoin seized through law enforcement actions. This unprecedented move aims to align the U.S. with the growing global shift toward digital assets as a form of reserve currency.

A draft executive order circulating online suggests the Treasury Department could eventually hold $21 billion worth of Bitcoin, positioning it as a permanent national asset. Advocates argue this move could legitimize Bitcoin and help hedge against financial risks, though critics warn of its volatility. Proponents also believe that establishing a Bitcoin reserve could enhance the U.S.’s financial security and strengthen its influence in the rapidly evolving global crypto ecosystem.

3. Commuting Ross Ulbricht’s Sentence

During his campaign, Trump vowed to commute the life sentence of Ross Ulbricht, the founder of Silk Road, a dark web marketplace that used Bitcoin for payments. Ulbricht’s case has become a rallying point for Libertarian and crypto advocates who view the punishment as excessive. By revisiting this controversial case, Trump is appealing to a segment of the crypto community that values personal freedoms and reduced government intervention.

The potential commutation has sparked widespread debate, with critics arguing that it could send the wrong message about accountability in the crypto space. However, supporters contend that it aligns with the administration’s broader goal of fostering a more open and forgiving environment for crypto-related innovation.

0% Commission

Stock Trading

16M+

Active Traders

2500+

Financial Assets

Regulated Platform Multi-Asset

Start Trading

Bitcoin’s Meteoric Rise and Challenges Ahead

Bitcoin’s unprecedented rise has been marked by its entry into the mainstream. However, its volatility and association with criminal activities remain concerns for critics. While Trump’s policies could lead to greater adoption and legitimacy, skeptics warn that the unpredictable nature of cryptocurrencies poses risks for investors and governments alike.

Despite these challenges, Trump’s pro-crypto stance has rejuvenated the industry. His administration’s focus on fostering innovation and reducing regulatory burdens could serve as a blueprint for other nations. The coming weeks will reveal how these bold plans translate into action, potentially reshaping the global cryptocurrency landscape.

As Bitcoin continues to break barriers, it remains a symbol of financial evolution. The crypto industry, buoyed by Trump’s vision, is poised to enter a new era of legitimacy and growth, proving that digital assets are here to stay.